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Originally Posted by elysiantraveller
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What evidence of "getting our clock cleaned"?
Massive levels of consumption? High standards of living? Highest manufacturing output in history? Cheap goods? $18 Trillion GDP? Full employment?
You keep saying this and others but I've seen no evidence of the global trade economy kicking our ass...
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When you are running consistent huge trade deficits you are losing.
You are getting depreciating goods. They are getting dollars which they use to buy US stocks, bonds, and real estate. The income from the government bonds comes out of our tax dollars and since they control the sale and purchase of trillions dollars of US bonds, they have influence over our interest rates and thus have political clout in the US also.
When you USED to have a vibrant middle class and it is evaporating because the jobs to produce goods have moved overseas, your are losing.
But hey, some of us bought blue chips stocks in the 80s and get cheaper goods at Walmarts so everything must be great.