American households go into massive debt in order to consume/buy way over what they can afford, while real wages are close to stagnant since half a century. Same for the government, astronomical debt but you still cut taxes. The US' fiscally inept behavior is directly responsible for some of the largest financial crisis, including 2008, which lead to a massive wealth transfer from workers to owners.
You have a trade deficit, because you're spending more than you can afford to a degree that you crashed the global economy. And have the audacity to say that your allies are taking advantage of you.
The reason nobody has been calling it out, is because financial institutions are licking their fingers from the massive debt Americans accumulate. But everyone knows that the next crash will happen and everyone knows where it will originate from _again_.
Trump is probably right when he repeatedly said that the US in in decline. But what he's doing is shifting the blame to foreigners instead of pointing the finger to where it hurts.
> You have a trade deficit, because you're spending more than you can afford
Nope. A trade deficit is when your trading partner buys more of your goods than you of theirs.
> to a degree that you crashed the global economy.
If you're talking about the Great Recession of 2007-2009, then, nope, you're wrong again:
"The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012."
That is literally an example of household debt and irresponsible fiscal behavior.
The trade deficit is based on many things. But ultimately the asymmetric purchasing power of one side leads to a higher deficit. If that purchasing power is drastically increased via irresponsible debt, you are creating an imbalance.
You have a trade deficit, because you're spending more than you can afford to a degree that you crashed the global economy. And have the audacity to say that your allies are taking advantage of you.
The reason nobody has been calling it out, is because financial institutions are licking their fingers from the massive debt Americans accumulate. But everyone knows that the next crash will happen and everyone knows where it will originate from _again_.
Trump is probably right when he repeatedly said that the US in in decline. But what he's doing is shifting the blame to foreigners instead of pointing the finger to where it hurts.