I find this to be straight false. "To be sure, the international view of U.S. global leadership has taken a dreadful turn for the worse."

If we view the fiat world order as collapsing under the weight of US largesse and fraud and money printing, then any attempt at fiscal responsibility and cleaning house would improve the view, not worsen it.

Wasn't the whole premise of BRICS "If you, the US, want to play silly games with currency debasement then that is your prerogative, but just don't expect us to keep using the USD."

I have no horse in the race, but I think the statement doesn't track.