You are talking about an unsustainable war economy that is overheating. Soaring inflation, brain drain and a falling ruble are only just the short term phenomena.
If you would truly believe what you say, you should convert all your savings from dollar to rubles. No serious economist would think that doing so would be a masterstroke though.
the dollar as the reserve currency already has a serious impact on the US (ie. the big upside is that it allows the US to borrow for very cheap, but the nasty downside is keeping the purchasing power of the USD artificially high, which is not great for the non-finance sectors of the US, not great for people who work in those sectors, and double-plus-not-great for US exports [which are not the dollar itself]), basically it's the "natural resource curse" again
A weak dollar is good if you own a company that relies on exports. For the rest of us who are paid in dollars and need to buy imports, a weaker dollar hurts.
That is one opinion. We can already see China and Japan selling off their US bonds and the BRICS countries are working on solutions to get off the dollar with high priority.
Germany's economy shrunk last year while Russia's grew. Dedollarization has accelerated which will impact the US not immediately but in near future.
You are talking about an unsustainable war economy that is overheating. Soaring inflation, brain drain and a falling ruble are only just the short term phenomena.
--> https://www.reuters.com/breakingviews/russian-war-economy-is...
If you would truly believe what you say, you should convert all your savings from dollar to rubles. No serious economist would think that doing so would be a masterstroke though.
To be fair, other European countries are doing better. It's a Problem specific to Germany and their mishandling of the energy shock.
the dollar as the reserve currency already has a serious impact on the US (ie. the big upside is that it allows the US to borrow for very cheap, but the nasty downside is keeping the purchasing power of the USD artificially high, which is not great for the non-finance sectors of the US, not great for people who work in those sectors, and double-plus-not-great for US exports [which are not the dollar itself]), basically it's the "natural resource curse" again
that said, dedollarization is unlikely even in the mid-term https://www.noahpinion.blog/p/threats-to-the-dollar-are-just...
A weak dollar is good if you own a company that relies on exports. For the rest of us who are paid in dollars and need to buy imports, a weaker dollar hurts.
That is one opinion. We can already see China and Japan selling off their US bonds and the BRICS countries are working on solutions to get off the dollar with high priority.
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