“Tariffs are like throwing sand into the gears of the global economy.”
— David Kelly, JP Morgan Asset Management
The dollar has plunged 10.8% in 2025, marking its worst start since 1973—a year defined by oil shocks, soaring inflation, and Watergate-era political turmoil. Behind the headlines, one has to wonder: Could America be headed for a crisis reminiscent of that turbulent era? A volatile mix of President Trump’s trade wars, sweeping tax cuts, and assertive executive actions fuels uncertainty. The dollar’s slide isn’t merely a currency-market blip—it’s a warning that America’s economic stability and global standing are under threat.
Already, many Americans are feeling the squeeze: the falling dollar has driven up prices for imported goods, such as electronics and cars, and overseas travel has become more expensive, hitting family budgets and sending consumer…
