GM.
Chapter 13 of Broken Money is called "Heavy is the Head that Wears the Crown".
It focuses on the US trade deficit and why it arises structurally. In short, since the USD is the global reserve cu...
But isn't that trade deficit anyway just fictional? Only the trade in manufactured goods or raw materials are taken into account and it doen't include the whole service economy, from which the US exports a lot. Or am I mistaken here?
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