> You have a trade deficit, because you're spending more than you can afford
Nope. A trade deficit is when your trading partner buys more of your goods than you of theirs.
> to a degree that you crashed the global economy.
If you're talking about the Great Recession of 2007-2009, then, nope, you're wrong again:
"The causes of the Great Recession include a combination of vulnerabilities that developed in the financial system, along with a series of triggering events that began with the bursting of the United States housing bubble in 2005–2012."