For example how does the presence of the US military in 750 overseas bases affect trade? How about all the intangible services like banking and investment trading? What about all the revenues from various types of intellectual property sales? What about sales of military equipment and/or support to third world countries?
It is to the benefit of US corporations to make earnings appear higher overseas so they don't have to pay higher US taxes, does this get factored in?
Even the prototypical Chinese imports don't present a clear picture. If the item is made in a factory with foreign part owners how is the revenue treated?
It is not even clear that we know how to define money any more. Money can now be created with no collateral on the loan just by using your credit card. Hedge funds seem to be creating money by using margin and as non-banks they don't have the reserve requirements.
I also believe in the The Coming Crash, but I have a feeling that the way it will unfold has not been anticipated. Afterwards the pundits will all say "it should have been obvious that having XXX would lead to a crash", but what is the XXX? Policies not Politics ---- Daily Landscape
