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So.. Does obama want the dollar to keep falling so the US can offer more manufacturing? What does this mean for the US compared to other countries? Can anyone enlighten me?
Imagine your dollar bill is only worth 10 cents. How many dollars would it take to buy a soda? A loaf of bread? Hey, at least you can screw the government. They'll only be getting 10% of what thyey used to get through taxes. But they'll only print more money to make up for it and then give it to themselves. But then the dollar is only worth a nickel. Hello, Zimbabwe.
Imagine your dollar bill is only worth 10 cents. How many dollars would it take to buy a soda? A loaf of bread? Hey, at least you can screw the government. They'll only be getting 10% of what thyey used to get through taxes. But they'll only print more money to make up for it and then give it to themselves. But then the dollar is only worth a nickel. Hello, Zimbabwe.
That would not be a function of the value of the dollar against other currencies but rather one of domestic inflation. While I see some inflation in the future, right now it isn't happening.
So.. Does obama want the dollar to keep falling so the US can offer more manufacturing? What does this mean for the US compared to other countries? Can anyone enlighten me?
I wouldn't single out Obama.
A hundred years from now all presidents from Reagan to Obama will be lumped together as presiders over the empires collapse.
So.. Does obama want the dollar to keep falling so the US can offer more manufacturing? What does this mean for the US compared to other countries? Can anyone enlighten me?
I think Obama recognizes that he cannot do anything about the value of the dollar against other currencies until the US economy comes out of recession. At that point, the value of the dollar will become a function US interest rates and the extent to which he is willing to keep spending on other programs as well as the deficit he intends (if any) to run. It will also be a function of the economic policies and economic stability of those other countries that we are comparing the dollar against.
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