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Guest Article: America Loses When The Trade War Becomes A Currency War, by Brandon Smith

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There has been a longstanding narrative in economic circles that no matter what crisis occurs the U.S. dollar is essentially invincible. I have never been one to buy into this assumption. Reason 1: Because I remember distinctly just before the derivatives and credit crisis in 2007/2008 the majority of mainstream economists were so certain that U.S. housing and debt markets were invincible, and they were terribly wrong. Whenever the mainstream financial media are confident of an outcome, expect the opposite to happen. Reason 2: Because karma has a way of crushing grand illusions. When you proudly declare a Titanic “unsinkable,” …

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