" But ultimately, as long as people are spending their own money (as they want to spend it) I can't see how a trade deficit/surplus will ever affect them." Lon

" But ultimately, as long as people are spending their own money (as they want to spend it) I can't see how a trade deficit/surplus will ever affect them." Long-term, risk avoidance is a weakness in people. They'd be spending it thinking of one result with another, worse one on the way. That's a way it might happen.