"...a provocative new book..." (Grant's
, 15 August 2003)
"...we strongly recommend...the man seems to have hit the nail right on the noggin..." (The Daily Reckoning)
"...is impeccably researched...provides a useful resume of how the dollar came to be the dominant force in world currency markets..." (www.iii.co.uk (AMPLE), 6 January 2004)
From the Inside Flap
The world economy is sinking into the worst industrial and financial downturn since the 1930s. Stock markets are plunging, major corporations are going bankrupt, and governments are begging for bailouts from the IMF. In The Dollar Crisis
, Richard Duncan explains the nature and the origin of the imbalances that have destablized the global economy.
The books theme is that the global economy has been destabilized by the United States' enormous trade deficit which now exceeds US$50 million. . . AN HOUR or 1.5% of Global GDP per annum. That trade imbalance, financed through debt, has created tremendous disequilibrium in the global economy and an economic bubble in the United States. When that bubble pops and the global economic disequilibrium unwinds, the world will not be able to avoid a very serious economic slump.
The Dollar Crisis is divided into four parts:
Part One describes how the US trade deficits have destabilized the global economy by creating a world-wide 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 extraordinarioy 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 sutainable economic growth in the decades ahead.
The Dollar Crisis is a must read for investors, bankers, brokers, exporters, economists and anyone else who wants to understand what has gone wrong with the world economy.