CHART OF THE DAY: The Trade Deficit Ripped Higher In August

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Dreams of a global rebalancing continue to fade, as the trade deficit ripped higher in August.

Analysts were looking for a $44.5 billion deficit — — up from $42.8 billion in July — but instead we got a $46.3 billion deficit.

Quick, China, revalue your currency already!

chart of the day, international trade, oct 2010

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