The dollar crisis. Causes. Consequences. Cures

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In this updated second edition of a highly acclaimed international bestseller, Richard Duncan explores the flaws in the international monetary system that have destabilized the global economy, potentially leading to a deflation-induced worldwide slump. The book is structured into five parts: Part One outlines how US trade deficits, currently exceeding US$1 million a minute, have created a global credit bubble. Part Two discusses the unsustainability of these deficits, predicting an inevitable US recession and a collapse in the Dollar's value. Part Three examines the detrimental effects that a US recession and Dollar collapse will have on the global economy. Part Four presents original recommendations aimed at mitigating the damage from the impending worldwide downturn and establishing the groundwork for balanced, sustainable economic growth in the future. Part Five, newly added in this edition, details the evolution of the crisis since the first edition in September 2002, analyzing how the Dollar Crisis is likely to unfold in the coming years, the anticipated policy responses, and the reasons these responses are unlikely to succeed. The inherent flaws and instability of the Dollar Standard suggest that its collapse will be one of the most significant economic events of the 21st Century.