Dollar Collapse Soon (recession, job, government, prediction)
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The Very Serious People (VSP), who are the Wall St. and business types, as well as conservatives who believe in Austrian economics, have been predicting a collapse of the U.S. dollar since 2009, as the Fed engaged in monetary expansion and the government engaged in fiscal expansion, to address the Great Recession.
Bearded economists, who understood Keynes and Hicks, said they were wrong. We now know that the bearded economists were right. The dollar not only didn't collapse, it got stronger.
Actually, the true believers in Austrian economics have been predicting the collapse of the dollar going back to at least 1933 when the US unshackled its currency from gold.
Actually it looks more like another leg up in the US$ index IMO. The US$ has been consolidating along the downtrend line through the 1984 and 2000 highs which it broke earlier this year. Looks like a second leg up is coming. Me guesses we'll see the high of 2000 again in the next few years. This is not the right time to be a US$ bear, folks.
The Very Serious People (VSP), who are the Wall St. and business types, as well as conservatives who believe in Austrian economics, have been predicting a collapse of the U.S. dollar since 2009, as the Fed engaged in monetary expansion and the government engaged in fiscal expansion, to address the Great Recession.
Bearded economists, who understood Keynes and Hicks, said they were wrong. We now know that the bearded economists were right. The dollar not only didn't collapse, it got stronger.
The dollar got stronger? For Americans or compared to other countries?
I don't predict a collapse, but I do feel there will have to be some type of economic changes in the near future.
The dollar got stronger? For Americans or compared to other countries?
I don't predict a collapse, but I do feel there will have to be some type of economic changes in the near future.
A strong dollar makes imports cheaper, and most Americans are very dependent on cheap foreign goods. But those Americans out of work because of this aren't happy.
A strong dollar tends to support continued low interest rates, which is good for borrowers, on balance maybe bad for savers.
A strong dollar tends to counter inflation, which is bad for all Americans.
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