Book description
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 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.
Richard Duncan has worked as a financial analyst
for more than 16 years. During his career, he has worked in many
leading companies such as Salomon Brothers, HSBC Securities,
International Monetary Fund and The World Bank.
