-During the financial crisis of 2008, the personal savings rate collapsed into negative territory for the first time ever, averaging -1.8% of national income from 3rd quarter 2008 until 2nd quarter 2010, but on June.8th, 2020, in a recent Bloomberg Op-Ed, Mr.Roach predicted that the savings rate could eventually fall by as much as -5% to -10%..Read more
– Still believes that the greenback is strong at this present moment, but could soon reverse by as much 35%, retesting July 2011 lows.
– Protectionism will result in higher costs as trade is diverted away from China
-In an interview with MarketWatch on June.23rd, he indicated that he believed dollar devaluation could happen much sooner than people might like to believe:
“I do think it’s something that happens sooner rather than later,”
“In a COVID era everything unfolds at warp speed”
Lastly, on Project Syndicate, he reiterated his 35% drop prediction, saying that it could happen within as little as 2-3 years.
“The dollar’s real effective exchange rate fell by 33% between 1970 and 1978, by 33% from 1985 to 1988, and by 28% over the 2002-11 interval“
By Shmitra at the English language Wikipedia, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=21843926