Gundlach: We're running our economy 'like we're not interested in maintaining global reserve currency status'

finance.yahoo2021-08-25

Billionaire bond investor Jeffrey Gundlach, the founder and CEO of $137 billion DoubleLine Capital, says his number one conviction over several years is that the U.S. dollar will decline as a ...

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Comments

Angsana
2021-08-25
Angsana
Like
SillyOldBear
2021-08-25
SillyOldBear
Like pls
phtan68
2021-08-25
phtan68
Devalue sooner很快就貶值
EdTigor
2021-08-25
EdTigor
Good perspective.

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(AP Photo/Richard Drew)\nHe pointed that in the aftermath of the global coronavirus pandemic and lockdowns, China's economy has been \"the strongest economy in the world by far.\" While U.S. GDP has \"bounced back with a lot of consumption, a lot of that consumption is going to China,\" he added.\n\"That's one of the reasons why China has such a strong economy. So, what we're seeing in the United States is starting to fall behind in economic growth. That's not a new thing. That's been going on for a generation, the U.S. falling behind,\" Gundlach said.\nThe investor also pointed out that estimates for when China's economy will be the largest \"keep getting pulled forward,\" noting some economists' projections show China's economy will surpass the U.S. by 2028.\n\"We have debt-to-GDP that is fueling the majority of our so-called economic growth. So, is it really economic growth when you borrow money or print money, send checks to people who turn around and buy goods on Amazon in addition to maybe paying down debt and speculating and these goods come in from China?\" Gundlach said.\nHe added: \"We're running our economy in a way that is almost like we're not interested in maintaining global reserve currency status or the largest military or global call it superiority or control. As long as we continue to run these policies, and we're running them more and more aggressively, we're not pulling back on them in any way, we are looking at a road map that is clearly headed towards the U.S. losing its sole reserve currency status.\"\nAccording to Gundlach, with the current economic policies in place, it's \"almost certain\" the U.S. dollar should be going down.\n\"The value of the dollar is so high because we enjoy global reserve currency status, and we don't really respect it enough. We take it for granted, I guess. We seem to take a lot of things for granted these days in the United States relative to how we thought about things in prior decades and generations. And, I believe we are setting the stage for us to, unfortunately… experience the consequences of our actions the way we have been running a non-serious economic program now, really since 1980, but it's really accelerated so much in the past decade and there's no signs of it abetting,\" he said.\nIt's Gundlach's view that the U.S. dollar has \"already peaked\" when the U.S. Dollar Index hit 103.\n\"I believe the dollar will take out the lows of the past down cycle. The dollar has been in a series of declining highs for decades — it goes back to the '80s. For that reason, I think when we get to the next break to the lower level, the dollar will go past the most recent low of around 80 and even take out the low of 70. So, I think there's easily 25% downside in the U.S. dollar.\"","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":837378354,"gmtCreate":1629860233178,"gmtModify":1676530154856,"author":{"id":"3575326435298567","authorId":"3575326435298567","name":"Angsana","avatar":"https://static.tigerbbs.com/3c8492153d7059ec1aa704a1bd541c14","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3575326435298567","authorIdStr":"3575326435298567"},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/837378354","repostId":1180783116,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":837357262,"gmtCreate":1629859171656,"gmtModify":1676530154541,"author":{"id":"3559770113710833","authorId":"3559770113710833","name":"SillyOldBear","avatar":"https://static.tigerbbs.com/ef207140107fde8983f710c746a5b404","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3559770113710833","authorIdStr":"3559770113710833"},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/837357262","repostId":1180783116,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":837357949,"gmtCreate":1629859154581,"gmtModify":1676530154494,"author":{"id":"3574739732742262","authorId":"3574739732742262","name":"phtan68","avatar":"https://static.tigerbbs.com/6e3f25ca6f0628d3425ae8bb0e944aab","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3574739732742262","authorIdStr":"3574739732742262"},"htmlText":"Devalue sooner很快就貶值","listText":"Devalue sooner很快就貶值","text":"Devalue sooner很快就貶值","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/837357949","repostId":1180783116,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":837328499,"gmtCreate":1629858492411,"gmtModify":1676530154093,"author":{"id":"3582116885862894","authorId":"3582116885862894","name":"EdTigor","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3582116885862894","authorIdStr":"3582116885862894"},"htmlText":"Good perspective.","listText":"Good perspective.","text":"Good perspective.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/837328499","repostId":1180783116,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":59,"commentSize":4,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1180783116"}