The World Tires of Dollar Hegemony

Great article by Paul Craig Roberts (former guy in US Treasury Dept during Reagan year), I totally agree with what is saying. -- KM

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The dollar's rise is temporary, and its prospects are bleak. The US trade deficit will lessen due to less consumer spending during recession, but it will remain the largest in the world and one that the US cannot close by exporting more. The way the US trade deficit is financed is by foreigners acquiring more dollar assets, with which their portfolios are already heavily weighted.

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