"The dollar being the primary global currency has enormous benefits for the U.S., but with the side effect that when the U.S. tries to depreciate, there are limits on how much it can do that," said Adam Posen, president of the Peterson Institute for International Economics.
FWIW, The Peterson Institute is bigly right of center, so admitting that Bully Uncle Sam is a bad thing means something.
The Peterson Institute has been at the forefront of research on the proposals by the Trump Administration of reforming the tax code.
If you really want something to chew on
Which brings us to the case of the Peter G. Peterson Institute, which, according to SourceWatch, is "founded, chaired, and funded" by Pete Peterson, a conservative Republican billionaire who made his money as a Wall Street hedge fund manager and served as secretary of commerce under President Richard Nixon. He has devoted himself and his billions to promoting deficit hysteria and convincing the public that programs like Social Security and Medicare will destroy the economy.
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