[exDemMom]

For example, the early-nineteenth-century economist, Jean-Baptiste Say, observed that "products are always bought ultimately with products." This is known as "Say's Law," which tells us that in a market economy, one must produce marketable goods or services in order to be able to purchase goods or services, including imports. In essence, growing imports reflect expanding domestic growth.

The whole problem with current trade is that we are importing goods and exporting cash. That is, our politicians really do believe we can get something for nothing.

Eventually, this trade imbalance will catch up with us when our trading partners realize that they are getting nothing in return (cash alone is worthless; its value is only as a proxy for goods and services).

In addition, much of the trade these days is for items we used to make ourselves. When companies leave the US for lower taxes and cheap labor, most of the jobs lost in the US are not being replaced. Unlike during the industrial revolution, when small farmers were able to move to the cities and get manufacturing jobs, there are no replacements for manufacturing jobs.

[Beagle8U]

“Unlike during the industrial revolution, when small farmers were able to move to the cities and get manufacturing jobs, there are no replacements for manufacturing jobs.”

Balderdash! They will just become software engineers./sarc