The US is facing a dollar collapse by the end of 2021 and over a 50% chance of double-dip recession, economist Stephen Roach says
Roach, who is a former chairman of Morgan Stanley Asia, also sees more than a 50% probability of a double-dip recession in the United States.
"The so-called net-national savings rate, which is the sum of savings of individuals, businesses and the government sector, also recorded a record decline in the second quarter going back into negative territory for the first time since the global financial crisis." "Lacking in saving and wanting to grow, we run these current account deficits to borrow surplus saving, and that always pushes the currencies lower," Roach said."The dollar is not immune to that time honored adjustment."
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