The bubble is scary, but the reason why smart, honest people like trump is because they recognize he’s actually doing shit to backfill it. The market shorters want you to panic.
It’s really stupid how contradictory people’s beliefs can be, tangentially
Like the idea that America can be a full ass country of people who do nothing but service sector and “service exports”. As I’ve explained some months ago, “service exports” almost universally fall into two categories; financial products and consulting.
Consulting is essentially selling trade secrets. Not good, and much more of an exhaustible resource than any physical commodity
But at the end of the day, if you’re in trade deficit, the system is most likely losing money. If you have US sized trade deficits, only doing shit like letting foreigners rent millions of our homes back to us is keeping the appearance of being afloat, but once those lump sums are gone and our rent keeps going overseas, we’re absolutely fucked