In the late 70s, hard to believe, the US was still a creditor nation. Now our debt is at a world record. The only things keeping the dollar up are the other crappy currencies and depressed economic growth.
“the US was still a creditor nation”
You understand the problem. If you or me want to live a nice existence (for our family too) we have to sell something we make to other people. The same applies to nations. Even in 1981 after Jimmy Carter and when Reagan came in. We still ran trade surpluses or minor trade deficits. Even Carter could not wreck this nation