How is that possible? They aren't sending their wealth to another country.
Well, we have a $15T deficit because we've been living a standard of living that is not something we can pay for.
Yeah, the government spends way too much. What does that have to do with my purchase of foreign coffee?
We manufacture money out of nothing, creating a US deficit
Huh? Now my foreign coffee causes Federal Reserve monetary policy?
This is not making us rich.
My original claim said nothing about making us rich, it was simply the observation that being able to buy from anywhere in the world improves our standard of living.
None of your posts since than have disproved that.
Then let me start over.
1) I agree that my standard of living would be improved if I drank foreign coffee, had a nice big TV and drive a fine Italian sportscar. My life would be pleasant and enjoyable because I have these foreign goods available to me.
2) I maintain that it is a poor national economic policy for our government to put in place corporate taxes and regulations (labor, environmental, safety, etc.) which make it difficult for Americans to run profitable businesses in this country and thereby make it easier for companies in other countries to compete against us with low cost goods.
I believe both of these statements can be (and are) simultaneously true.
I would further maintain that a trade deficit, while it may help us have pleasant lives, is probably evidence that our national economic policy is flawed. As a nation, we spent money we do not have, to fund a lifestyle that we, as a nation, have not truly earned. It's been a pleasant ride, but eventually we need to pay for it.