In This Article:
A reading of a piece by a Yale professor and former head of Morgan Stanley Asia arguing the U.S. dollar’s status is changing rapidly.
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On this episode of The Breakdown: Long Reads Sunday, we look at Professor Stephen S. Roach’s piece “The COVID Shock to the Dollar.”
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In it, he argues:
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Americans have been squandering their savings potential
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Because of this, we are forced to borrow surplus savings from abroad
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We have usually been able to do this on favorable terms
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That window may be coming to a close
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There could be a 35% drop in the dollar over the next two to three years
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.