Clyde Prestowitz
Clyde Prestowitz
Clyde Prestowitz is the founder and President of the Economic Strategy Institute. He formerly served as counselor to the Secretary of Commerce in the Reagan Administration. He is a labor economist. Prestowitz has written for Foreign Affairs...
Clyde Prestowitz quotes about
dollars exists interest pint rates sell sold spike upset value
The possibility exists that they would get upset with us at some pint and sell dollars. And if they sold all those dollars right away, the value of the dollar would plummet, interest rates would spike and the U.S. would go into a recession.
adjustment lifestyles recession sharp unpleasant
That's unsustainable. There is an unpleasant adjustment in our future. We will have to adjust our lifestyles to our means. There will be a sharp recession if not a depression.