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Title: B O R I N G!
Review: Duncan takes 324 turgid/boring pages and way too many graphs to communicate the obvious: A dollar-based world-economy cannot last while the U.S. is running very large and increasing1)Trade deficits2)Government deficits3)Household deficits, and4)Business deficits (eg. pension funds).Much of the world (especially Asia) is financing economic expansion through sales to the U.S. by loaning us the money. Each of those nations will eventually become increasingly nervous about others' bailing out of dollars before they do - leaving them holding a bag of worthless paper. And if you don't believe me, read Paul Volker (former Federal Reserve Chairman) - he thinks the odds of a dollar-crisis in the next five years are about 75%.
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