Alternative Visions - De-Dollarization Trends + US Economic Update
Alternative Visions - A podcast by Progressive Radio Network - Mondays
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Dr. Rasmus reports on several latest data releases showing growing slowdown of US economy: latest housing states -2.4%; manufacturing PMIs contracting faster; and US leading economic indicators down -7.8% year on year, the worst seen since 19981 recession. Second half hour of the show begins the analysis of the emerging decline of the US dollar, a key lynchpin in the US global economic empire. The forces driving up the value of the dollar in the short run recently and the emergence of longer run developments undermining the dollar as global currency are discussed. Distinguishing between the $ as dominant global trading currency and as global reserve currency. Why $ as reserve currency has thus far fallen from 80% to 60%. And as trading currency to 60%. How US sanctions on Russia is driving China and expanding BRICS toward alternative currency solutions to trade. General view of the negative implications for US economy in longer run. Why the $ will continue to decline as global currency. (Next week: A deeper look at CBO’s just released report in April: “The US Dollar as an International Currency and Its Economic Effects”)
