Crash of the US dollar
Many economists and analysts have predicted the coming crash of the US dollar. The primary driver is the huge deficit of $31 trillion. I want to give my perspective of how this event might occur. The US Fed starting increasing interest rate in March 2022 and has made a few rounds of increases in the subsequent months. This caused...
Developing countries can mobilize internal savings
Many developing countries need funds for their economic development. They issue bonds in US dollar in the international markets. When the US dollar rises, as has happened in 2022, the developing countries find it costly to repay the borrowings. Some have defaulted in the process. Many developing countries have the means to mobilize...
Does Singapore have a surplus of $2.2 billion or a structural surplus of $30 billion?
Does Singapore have a surplus of $2.2 billion or a structural surplus of $30 billion? It depends on the accounting treatment. This is my opinion. The SG govt adopts two unusual accounting methods. 1. Sale of land, mostly 99 year leases, are not taken as govt revenue. Instead, it disappears as transactions involving "past reserves". 2....
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