Being a simple soul, I’ve always wondered what the benefit of a weak dollar is supposed to be. History has shown that a weak dollar will not address the US trade imbalance – taking $/JPY down from 263.00 in early 1985 to below 80.00 a decade later made no difference. Economists will argue about things like the J-curve effect, but as that 10-year experiment showed, the US doesn’t really make anything worth exporting apart from weapons and guitars (now often better made under license in Mexico, China and Korea).
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