Sunday, August 7, 2011

Obama Administration to Continue War on the Dollar - Yahoo! News

Obama Administration to Continue War on the Dollar - Yahoo! NewsCOMMENTARY | The danger of populism is that you could end up in the arms of demagogues who rail at the wealthy and expect you to be satisfied with promises that never materialize. Avoiding that trap, it is perfectly sensible to fight the cheap dollar, and the people who dilute it.

A site called defines dollar weakness as currency that can "only be exchanged for a small or decreasing amount of foreign currency."

I won't be buying any foreign currency any time soon; I can hardly afford to visit America.

The InvestorWords definition of a weak dollar explains that a weak dollar favors exports. That's an outmoded definition, though still useful in muting opposition to Obama administration monetary policies.

In fact, what a weak dollar exports most of all is jobs. The financial markets and giant corporations can get funding for free from the U.S. taxpayer and then shelter it by moving jobs, investments, and output to foreign countries where they reap profits in stronger currencies.

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