The Dollar’s Woes: A Comedic Tragedy in Global Trade 🎭💰

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Ah, the grand machinations of trade! One might say that the esteemed vice president of private banking—yes, our dear Elias Haddad—has unveiled a rather tragicomical farce at the expense of the illustrious US dollar.

In an interview that might have been better suited for the theater than CNBC, he regales us with tales of fiscal folly. The greenback, it appears, is not merely suffering a passing malaise, but rather sinking under the weight of America’s own protectionist policies, much like a ship weighted down with an overabundance of cargo, or perhaps like a hapless actor forgetting their lines.

“Clearly the decline in the dollar reflects the loss of confidence in the US trade, security, and perhaps even fiscal policy,” he muses, as though recounting a somber fable of yore—one in which the villain is, alas, a bit too close to home.

Oh, those higher tariffs! By some cosmic jest, the average effective tariff rate in the US has leaped from a rather amiable 2% to a staggering 18%. If only we could blame this on the delightful whims of fate, but no! It is indeed a downside risk to growth, yet an upside risk to inflation. How, pray tell, could one not view this as bearish for the proud US dollar?😅

Moreover, Haddad goes on to paint a picture of our beleaguered currency’s future, suggesting that our ongoing trade war might just accelerate its march towards irrelevance in the hierarchy of reserve currencies. One can only hope that the government’s attempts to narrow the trade deficit find the same success as an untrained puppy learning to fetch—a comical endeavor at best!

“The policies aimed at narrowing the trade deficit mean you’ve got less US dollar flowing overseas,” he states, as though he has stumbled upon the secret to eternal youth. Less dollars flowing back into US securities? What a charming paradox we’ve found ourselves in!

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2025-07-11 23:01