The 2nd quarter of 2011 showed a shocking drop in net capital inflow from the Treasury Department Flow of Funds (Z1). The drop was from 478 billion to 2 billion, a net change of -476 billion or almost half a trillion dollars that fled the US. The last time a drop like that happened was the 2nd quarter of 2008 when the net change was -475 billion. Does S&P history rhyme? We are about to find out.
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