Originally Posted by
Shareholder
I'd be more amazed when the US media started making Americans aware of how much Bush and his crew have devalued the US$ since coming to power. In any other major country, the declining value of the currency vis a vis the world's other currencies would be front page news...and of great concern. In fact, it is as significant as any interest rate change by the central bank. Yet I've not caught a single mention of this on even CNBC, nor seen it on the front page of the WALL STREET JOURNAL.
Perhaps the border cities are covering it better.
http://archives.seattletimes.nwsourc...4&query=canada
http://seattletimes.nwsource.com/htm...bparity20.html
The US always complains when other countries devlue their currency so their goods will be available to Americans more cheaply, or bash the Chinese for not raising the value of theirs. Of course, a lower US$ is good for American manufacturers and US products sold abroad, but it increases the cost of imported goods and this will have an impact on levels of imports in coming months/years.
One can argue on the other hand that the USD is already (even) artificially overvalued as it is (or was) seen as the world's reserve currency.