(Someone should mention to him that recessions will do that. If you want a really big trade surplus, try a depression --- like in the 1930s.)
There was alot of money lost in those days. It could happen again too, by the looks of all the graphs and charts etc. The difference is, the consumer drives the economy, not charts and graphs, and we have a strong consumer market going on right now, it's created it's own monster. That was missing in the late 70's and early 80's. I think we are going to consume right past this bubble.