Global economies depend on U.S. dollar assets, Mike Shedlock notes

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Global economies depend on U.S. dollar assets, Mike Shedlock notes — Global economies require U.S. dollar assets

Mike Shedlock, author / blogger at MishTalk, discusses the challenge facing the world in moving away from the U.S. dollar.

He points out that the U.S. consumer acts as the global consumer of last resort and the country runs significant trade deficits, which together necessitate global accumulation of U.S. dollar assets.

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Shedlock has previously questioned labeling an 8% and falling recession probability as "doom porn". He has also advised that refinancing car loans can help reduce expenses, adding that he does not generally favor these types of loans in his commentary. Shedlock continues to share views on U.S. economic conditions.

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