Mr. Hawkins said: "This [large trade deficit] is a situation usually associated with underdeveloped countries on the brink of financial collapse."
THAT is a FALSE STATEMENT, rather easily disproved.
Uganda Trade Deficit Swells
And We have the SAME amount of Public Debt! 62% of GDP !!!
(Okay, Uganda's debt situation is a little better than ours.
Theirs is actually 62.2% and ours is 62.4%
So why quibble over a mere 0.2%???))
Willie, debt and deficit are two different words that you seem to be confusing.
"Public debt" is not the same as "trade deficit"
Hmmmmm... Uganda's Trade Deficit isn't as bad as ours, either.
It only sucks out 2.36% of their GDP.
Ours is hemorrhaging at a staggering 5.19% of our GDP.
Crap. We're worse the stinkin' Uganda for cripes sake.
Sorry, Willie...
Uganda, with GDP growth of 5.2% and inflation of 4.8% does NOT seem to be on the "...brink of financial collapse..." You'll have to "try harder".
On the other hand, I have found two countries with BOP SURPLUSES that just might be on the "brink":
Country "A" has GDP growth of 1.1%, public debt of 102% of GDP and unemployment at 8.1%.
Country "B" has GDP growth of 2.7%, public debt at 155% of GDP and unemployment at 5.3%.
Does this prove that trade surpluses are a sign of economic WEAKNESS?
No need to answer...
I've concluded that the fact that your data mining has become biased and selective is sufficient proof that you have lost the argument -- although you will be the last to admit it.
P.S.:
"A" is Belgium
"B" is Japan