Subject: Re: Buffett’s view on current account deficits
Jim: "Market Cap" of the USA being owned by Foreigners without a countervailing amount of equity owned by American's in the rest of the world.

Well, maybe I'm an aborition, but a very large portion of my equity portfollio is made up of foreign businesses. One of the deep fears I have is that, at some future date, nationalistic tendanceies will make it (again) illegal to own foreign stock shares.

In a world where citizens of any nation can own shares of "any" country it is both difficult to acertain who owns what as well as expected for "foreigners" to have domestic interests (as demonstrated by the US government's sudden interest in protecting South Africa's Afrikaner demographic against racial bigotry).

Jeff