Trade deficit

A lot of people seemed to be freaked out over the widening trade deficit. I've never understood this hysteria since it also means expanding investment in the U.S. economy (we import more goods, foreigners buy more U.S. assets) -- which to me is a good thing. Indeed, as this guy notes:

If China buys lumber, concrete, steel, furniture, etc. from the US, it's considered great. But if China buys exactly the same material embedded in a building within the US, it's considered bad. Go figure.

Exactly.