In this updated, second edition of the highly acclaimed
international best seller, "The Dollar Crisis: Causes,
Consequences, Cures," Richard Duncan describes the flaws in the
international monetary system that have destabilized the global
economy and that may soon culminate in a deflation-induced
worldwide economic slump.
"The Dollar Crisis" is divided into five parts:
Part One describes how the US trade deficits, which now exceed
US$1 million a minute, have destabilized the global economy by
creating a worldwide credit bubble.
Part Two explains why these giant deficits cannot persist and
why a US recession and a collapse in the value of the Dollar are
unavoidable.
Part Three analyzes the extraordinarily harmful impact that the
US recession and the collapse of the Dollar will have on the rest
of the world.
Part Four offers original recommendations that, if implemented,
would help mitigate the damage of the coming worldwide downturn and
put in place the foundations for balanced and sustainable economic
growth in the decades ahead.
Part Five, which has been newly added to the second edition,
describes the extraordinary evolution of this crisis since the
first edition was completed in September 2002. It also considers
how the Dollar Crisis is likely to unfold over the years
immediately ahead, the likely policy response to the crisis, and
why that response cannot succeed.
The Dollar Standard is inherently flawed and increasingly
unstable. Its collapse will be the most important economic event of
the 21st Century.
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