Here is a classic example of hiring someone who knows hardly anything to bloviate about something that is fairly easy to understand. Namely, our trade partners all do the same exact thing: they hold US dollars in their central banks to make the dollar stronger against their own currency in order to run perpetual trade surpluses with the US which is deeper and deeper in the red each generation: The Strong Dollar Is Always Good, Except When It Isn’t – NYTimes.com
The European Central Bank significantly loosened its monetary policy on Thursday, in the process driving down the euro and bolstering the dollar. Measured against a basket of currencies, the dollar’s value has soared 19 percent since May, and the momentum seems to be building.
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