Ryan Miller

speaker
4,581 appearances 12 recordings 2 series first heard Mar 2026 last heard 10 Aug

Ryan Miller’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months
4 · Jul OctJan 26AprJulnow

Recordings per month over the last 12 months — 12 in all, peaking in Jul 2026 with 4.

Appearances

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Bull doesn't pay a yield and can't run a global economy.
So the de-dollarization trend, while it is real, is happening at the margin, a few percent of reserves, not a wholesale abandonment.
Then there's two.
The U.S.
has been about to collapse under its debt every decade since the 80s.
And the people who bet on that collapse have been run over again and again while U.S.
assets outperformed the entire world.
Being early on this has cost people fortunes.
And then there's three.
American productivity and innovation are genuinely exceptional around the world.
If AI and energy drive a real productivity boom, the U.S.
could grow its way into a much more manageable debt-to-GDP ratio without any dramatic debasement at all.
That's not a fantasy.
It's happened before, after World War II.
Those are real arguments, and I respect them.
Here's why they don't change the move.
Notice that none of them require me to be right about a collapse because I'm not predicting everyone.
Even in the optimistic case where the dollar stays dominant and growth is strong, the most likely path still runs through a period of real rates held below inflation.
That's a problem.
and it needs to manage its interest burden.
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