] The United States is overextended, not just militarily
] but economically. We are trying to do too much, borrow
] too much, spend too much, and sooner or later we will
] have to suffer the consequences. We are a country in the
] beginning stages of what can best be described as
] hegemonic decay. Empires take decades if not centuries to
] wither, a process more clearly viewed through a rearview
] mirror; Edward Gibbon's masterful account of the decline
] and fall of the Roman Empire is perhaps the greatest
] example of this truth. But here and now, we're much less
] inclined to Gibbon's viewpoint than we are to Alfred E.
] Newman's. "What, we worry?" is pretty much the national
] motto when it comes to our finance-based economy and its
] future prospects.

Another major investment guru weighs in on the trade deficit.

What, We Worry? Yes. (washingtonpost.com)