What is the practical application of a currency devaluation - US Dollar ? (taxes, wage)
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Within reason its value is what the world says it is.
The US manipulates what the world says it is, by policy.
The oligarchs (domestic and foreign) want a high US$. They are all getting rich from trade and finance. It's only the hapless US citizens that are getting screwed on this deal.
The US manipulates what the world says it is, by policy.
The oligarchs (domestic and foreign) want a high US$. They are all getting rich from trade and finance. It's only the hapless US citizens that are getting screwed on this deal.
Mainly through interest rates and new money creation. QE demonstrates how conventional wisdom fails. Many of us have prospered due to these sorts of policies, and I assure you that I am no oligarch. (lol)
The US manipulates what the world says it is, by policy.
As circumstances may indicate to them, central banks may try to prop up a currency or not.
Quote:
Originally Posted by rruff
The oligarchs (domestic and foreign) want a high US$.
I subscribe to newsletters from United Oligarchs of the World, and have nor seen this.
Quote:
Originally Posted by rruff
They are all getting rich from trade and finance. It's only the hapless US citizens that are getting screwed on this deal.
The people who get rich from trade and finance tend mostly to be traders and financiers. You really can't just be a dastardly oligarch and expect to become wealthy.
Many of us have prospered due to these sorts of policies, and I assure you that I am no oligarch. (lol)
I also doubt that you have really prospered. If you aren't in the top 1% then you only prospered on a relative basis. You have to get above that level before the gains exceed the GDP growth rate. The top .01% are where the huge gains have been.
As history has plainly shown, importing more than we export depresses wages more than it reduces consumer costs.
The rain in Spain falls mainly on the plain. Your cost claims earlier were flawed and so are these. Further, while the global balance of trade has always added to zero, there has never been history in which someone was not running a trade deficit. Theoretically, it should be the more mature and developed economies who do this so that the up-and-comers can expand through export-driven growth.
As history has plainly shown, importing more than we export depresses wages more than it reduces consumer costs.
Show us the history. Imports create a lot of jobs. And cheaper goods from imports saves everyone money every day. Certainly some sectors necessarily lag.
No doubt you are more apt to suffer if you are immobilized in the rust belt and with low education.
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