Quote:
Originally Posted by spunkmaster
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In that case, what's the problem? Everything in the garden is obviously rosy
Do you realize how irrelevant (it's not really irrelevant, does matter and is some benefit) that $30 billion export increase actually is?? It's peanuts.
To try and put it in perspective - the Fed dumped almost $72 billion of fake money into the banking system in one week recently to retain solvency and liquidity. In less than week other nations have dumped more than $30billion in dollar assets. Each day the government borrows a further $30billion (give or take a few billion) from other nations - around 30% of that from the Central Bank of China alone.
Sure, it is correct that a weaker dollar is good for exports, but this is nowhere near the level which would indicate a stable or balanced economy. It's nice to see manufacturers patting each other on the back, but there are clearly not enough manufacturers. They have probably been exported to Asian countries.
Seriously - if that article was supposed to be reflection of a rosy economy and terminology like "record successes" - it failed. The evidence lies with the weak, and getting weaker, dollar.