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I disagree with you that this is just part of the ebb and flow. Never before have we had a Trade and Budget deficit like today's. Never before have we given away technology to a Communist country. Never before have we offshored millions of heretofore American jobs. Never before have we had so little manufacturing. Never before have we been dependent upon even hostile nations for our own military purchases. Never before have we allowed 1.2 million visa workers stay here taking American jobs while Americans are unemployed. Never before have so many illegals crossed our borders and taken so many jobs. Never before has the middle-class been gutted like this. No, this is not part of the ebb and flow.
And, like Mr. Gun, tens of thousands of previous Silicon Valley residents have already left. The traffic is remarkably less and the cost of housing/rents have dropped-off. Unfortunately, there are not enough places/positions to handle all that have lost their jobs.

Of the two (trade and budget deficits), the latter is the greater concern, though very understandable in times of war. Under restrictions that are severe enough to substantially reduce the deficit (some of those "solutions" can be found in #7 above), both imports and exports would ultimately decline much more than the deficit, disrupting the economy and causing unemployment in the export sector and possibly elsewhere.

In general, the government policies that are most likely to have a large impact on the deficit are not trade policies but budget policy and any other policies that substantially influence saving and investment in the economy. Such are the things the current administration is implementing.

Take heart (if you are able) - the middle class is still there and it's numbers increase and decrease as per usual. Besides, the greater impact on middle class status is not employment, but rather it is family stability factors such as divorce.