Lets look at the empirical evidence - the current state of the US economy. Its a mess. When it works, its held together with massive amounts of debt. When it doesn't, the dole queues stretch for city blocks. Lets compare that with the Golden Era for the American economy just after WWII. At that time the US was a closed economy but it had full employment and an excellent standard of living. Moreover, it managed all this by accumulating assets rather than debt.

All this has unravelled because somebody took the idea seriously that US workers could possibly compete with workers in other countries earning one tenth what they do.

The fact is that the US is a large enough market on its own. Even without foreign trade it can sustain a wealthy and vibrant economy. The US government has bought the argument, promulgated by private interests, that free trade is beneficial. So, OK wise guy, why doesn't the US government just put up trade barriers again?

In light of the above overwhelming 'empirical evidence', I would not be surprised if the powers that be in the US are tempted to go back to a closed economy. My guess is that the flow-on effects of taking such action would totally destabilise the world economy. It would set off economic armageddon. My advice (for what its worth): who is the US government accountable to? - the US citizen - and it is he/she that it should be looking after first and foremost. Good luck guys.