Rescuing America’s economy from Trump
Under Donald Trump, the US could soon find itself in a position analogous to post-Brexit Britain. The US president himself needs a regent, similar to the role Howard Baker played under Ronald Reagan.
IN A recent podcast interview with Ezra Klein of The New York Times, Gillian Tett of the Financial Times fell into what has become a common trap: “sanewashing” the economic policies of US President Donald Trump’s second administration.
“On the one hand, they want to ensure that the dollar remains supreme as a global reserve currency and that the dollar-based financial system continues to dominate,” she explained.
“But at the same time, they also think that the dollar is overvalued by virtue of the fact that it is the world’s reserve currency, which means that people keep buying dollars and so that pushes up the value.”
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