The accumulated trade deficit since 1950 tracks closely the accumulated public debt, as shown in the figure above. The money we've sent overseas, buying cars from Japan, fabric from China, shoes from South Korea, plastic products, soda straws, flyswatters--the aggregate of all of that has turned America into the largest debtor nation in the world, of all time.
How did this happen?
The answer is this: America has been sacrificed on the alter of Free Trade. Historically, free trade is un-American. Until recently, America protected its industries. We became rich by doing so.
That all changed in the past few decades. It was changed by those who wanted to see America fade away, to see it replaced by a global government.
As Bill Clinton said: "There are a lot of very brilliant people who believe
that the nation-state is fast becoming a relic of the past."
In other words, America will soon be obsolete.
© 2002, 2003, 2004 by Louis Dischler