{"id":2211,"date":"2024-07-18T13:24:44","date_gmt":"2024-07-18T13:24:44","guid":{"rendered":"https:\/\/trusteconomics.eu\/?p=2211"},"modified":"2024-07-18T13:24:44","modified_gmt":"2024-07-18T13:24:44","slug":"trump-presidency-2-0-the-dollar-will-be-sacrificed-to-deal-with-the-huge-public-debt","status":"publish","type":"post","link":"https:\/\/trusteconomics.eu\/index.php\/2024\/07\/18\/trump-presidency-2-0-the-dollar-will-be-sacrificed-to-deal-with-the-huge-public-debt\/","title":{"rendered":"Trump Presidency 2.0: The Dollar will be sacrificed to deal with the huge Public Debt"},"content":{"rendered":"\r\n<p class=\"wp-block-paragraph\">The US must abandon its \u201cmammoth deficits\u201d if it is to keep US debt levels manageable for decades to come. The over-indebted US economy can no longer bear, in the context of geopolitical realignments, to support the &#8220;excessive monetary privilege&#8221; of the dollar, and in order for the new presidency of Donald Trump not to be characterized by the &#8220;explosion&#8221; of the fiscal bomb, i.e. bankruptcy, the priorities must change.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">The Republican National Committee released Donald Trump&#8217;s presidential platform this week, a list of 20 points that will guide economic policy. At number 13, the former president pledges to keep the dollar as the world&#8217;s main reserve currency.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">However, a second Trump term may actually erode the dollar&#8217;s dominant role. Instead, the risk comes from a &#8220;severe deterioration&#8221; in economic and financial conditions in the US, as fiscal strength under Trump based on the current situation is unlikely.<\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" class=\"wp-image-19345\" src=\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2024\/07\/image-61-1024x768.png\" alt=\"\" \/><\/figure>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">&nbsp;<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\"><strong>The fiscal cliff<\/strong><\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Trump&#8217;s promises:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>for big tax cuts and no cuts to Social Security or Medicare.<\/li>\r\n\r\n\r\n\r\n<li>the implementation of a 10% universal tariff, which most economists agree would be inflationary.<\/li>\r\n\r\n\r\n\r\n<li>plans for mass immigration are expected to slow US growth.<\/li>\r\n\r\n\r\n\r\n<li>All this will simultaneously burden the stability of the dollar, although they do not give an opening to another currency to dethrone it.<\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Dollar reserves would slide if the geopolitical environment continues to fragment. This also seems likely under the Trump administration.<\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">During his first term, Trump threatened to withdraw from NATO and pulled the US out of key agreements such as:<\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li>the Iran nuclear deal,<\/li>\r\n\r\n\r\n\r\n<li>the Paris Climate Agreement and<\/li>\r\n\r\n\r\n\r\n<li>the Pacific Partnership.<\/li>\r\n<\/ul>\r\n\r\n\r\n<div class=\"wp-block-image\">\r\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" class=\"wp-image-19346\" src=\"https:\/\/www.liberalglobe.com\/wp-content\/uploads\/2024\/07\/image-62-1024x1024.png\" alt=\"\" \/><\/figure>\r\n<\/div>\r\n\r\n\r\n<p class=\"wp-block-paragraph\"><em>Will the US remain a reliable partner?<\/em><\/p>\r\n\r\n\r\n\r\n<p class=\"wp-block-paragraph\">Trump has imposed sanctions more often than President Biden \u2013 a practice often cited as a key reason other countries seek to de-dollarize their reserves.<\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>The US must abandon its \u201cmammoth deficits\u201d if it is to keep US debt levels manageable for decades to come. The over-indebted US economy can no longer bear, in the context of geopolitical realignments, to support the &#8220;excessive monetary privilege&#8221; of the dollar, and in order for the new presidency of Donald Trump not to &hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[105,59,106],"tags":[83,640,121,141],"class_list":["post-2211","post","type-post","status-publish","format-standard","hentry","category-developed-economies","category-proposed-fiscal-policies","category-us","tag-dollar","tag-donald-trump","tag-public-debt","tag-usa"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.9 - aioseo.com -->\n\t<meta name=\"description\" content=\"The US must abandon its \u201cmammoth deficits\u201d if it is to keep US debt levels manageable for decades to come. The over-indebted US economy can no longer bear, in the context of geopolitical realignments, to support the &quot;excessive monetary privilege&quot; of the dollar, and in order for the new presidency of Donald Trump not to\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"TRUST ECONOMICS\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/trusteconomics.eu\/index.php\/2024\/07\/18\/trump-presidency-2-0-the-dollar-will-be-sacrificed-to-deal-with-the-huge-public-debt\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.9\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"\u042dI\u0404 Trust Economics - Leading the Way for Future Growth\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Trump Presidency 2.0: The Dollar will be sacrificed to deal with the huge Public Debt - \u042dI\u0404 Trust Economics\" \/>\n\t\t<meta property=\"og:description\" content=\"The US must abandon its \u201cmammoth deficits\u201d if it is to keep US debt levels manageable for decades to come. The over-indebted US economy can no longer bear, in the context of geopolitical realignments, to support the &quot;excessive monetary privilege&quot; of the dollar, and in order for the new presidency of Donald Trump not to\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/trusteconomics.eu\/index.php\/2024\/07\/18\/trump-presidency-2-0-the-dollar-will-be-sacrificed-to-deal-with-the-huge-public-debt\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2024-07-18T13:24:44+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2024-07-18T13:24:44+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"Trump Presidency 2.0: The Dollar will be sacrificed to deal with the huge Public Debt - \u042dI\u0404 Trust Economics\" \/>\n\t\t<meta name=\"twitter:description\" content=\"The US must abandon its \u201cmammoth deficits\u201d if it is to keep US debt levels manageable for decades to come. 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