Should Congress Abolish the Debt Ceiling?
Open to Debate
00:00
The Disadvantages of De-Dollarization
Since World War II, at least the dollar has been the global currency in the one in which most international business is done and puts the US in a fantastic position. Park: I think that we want to really separate here the distinction about a short-term disruption and a long-term disruption. The bigger issue is what happens if we have large 5% of GDP deficits for years and years, decades into the future. That's what drives the rest of the world to decide that they no longer want to borrow Treasuries.
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