Pabst HOWEVER: I can't argue against a weak dollar being the CORRECT policy. My life savings are in CD's and coupled with low CD interest rates, it's grand larceny.
Blows the weak dollar policy as it relates to employment right outta the water now doesn't it? No nation has ever prospered by killing their currency. Ever.
Doc, guy's like you and me use that tired line all the time but is it really true? The Pound was 4 bucks to the dollar. It went to 1.05. Did the U.K. die? Even a place like Argentina that goes through currencies like we do shoes has an ok standard of living with minimal social unrest. The spend more than they make to keep up with the Jonses American consumer coupled with greedy trade unions caused our manufacturing to decline.
There's a ying and yang bro. If the dollar was stable then assets would also be unchanged. Rarely can we have our cake and eat it too.
I bet that still seems cheap to non-dollar holders. Reminds me of 1993 when I was Sydney and they were selling condo's in the CBD when the Ozzie $ was .63 ..and guaranteeing a rent back of 7% for 3 years.
Yeah...it did. The UK has never been the same since. I also remember when the French Franc was 8 to 1$...I don't know many people who want to live now in that shit hole either.
Excellent Commentary, Pabst Pabst Prime wrote... 3. The dollar is STILL too strong in what it affords Americans in global purchasing power. I marvel that a welfare recipient in America makes more than an MD in much of the emerging world. Someday an assembly line worker or technician in Brazil, China or India will be paid the same amount of purchasing power per unit of labor as an American or European. From a justice standpoint it's only right. ........................................................... Agreed ........................................... This also implies that currencies are in unison....