The End of America’s Exorbitant Privilege

Donald Trump’s Vampire Presidency

President Donald Trump is America’s first rentier president. A rentier is a sort of capitalist parasite who extracts wealth from the economy without contributing to economic productivity. He is the precise opposite of the entrepreneur who disrupts markets and creates jobs with innovative new products, new manufacturing methods, or new ways to market goods or services. Many commentators bemoan today’s rentier capitalism. Now we’re seeing the adve…

The End of America’s Exorbitant Privilege

Desmond Lachman highlights the myriad ways Donald Trump is undermining markets’ faith in the US economy and the dollar.

Russia’s Lavrov warns out-of-control US debt situation shakes confidence in dollar

Russian Foreign Minister Sergey Lavrov has expressed concern over the escalating US public debt crisis, asserting that the unchecked growth in debt, coupled with illegal sanctions, is eroding global confidence in the US dollar.