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But never mind that. I'm trying to focus on your definition of wealth. Wealth, according to your "logic", consists of goods, so we are IMPORTING wealth according to your "logic". No wealth is flowing out of the country (according to your own logic).

Hey, you want to focus on the definition?
Fine by me, I'll post it again for reference:

WEALTH: The net ownership of material possessions and productive resources. In other words, the difference between physical and financial assets that you own and the liabilities that you owe. Wealth includes all of the tangible consumer stuff that you possess, like cars, houses, clothes, jewelry, etc.; any financial assets, like stocks, bonds, bank accounts, that you lay claim to; and your ownership of resources, including labor, capital, and natural resources. Of course, you must deduct any debts you owe.

You see that part about deducting any debts that you owe???

That's what the Trade Deficit is: DEBT!
Essentially, we've imported goods without exporting an equivalent amount of goods in return.
The paper money we send to them are nothing but IOUs.
That's how wealth is flowing out of the country, we are going into debt with our Trade Deficit.

You are technically correct. However, the problem that the holder of debt always has is -- to collect. The Jews in the middle ages got screwed that way a lot. They loaned money to a feudal lord type...who then reneged on payment. Suppose, for example, you loan me a pile of money which I invest in factories to make stuff. I then inflate my money and pay you off with inflated dollars. You get screwed and I have factories. If I have a good military and have oceans around me, you are out of luck.

Of course, I am not saying that this is the actual plan, you understand. Just pointing out a scenario.

That's what the Trade Deficit is: DEBT! Essentially, we've imported goods without exporting an equivalent amount of goods in return. The paper money we send to them are nothing but IOUs. That's how wealth is flowing out of the country, we are going into debt with our Trade Deficit.

The Trade Deficit is debt?!?!? Since when is cash a liability? If it's a liability, how is it paid off and who owes it?