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You can’t eat your cake and have it too.
As much as the dollar is falling, it only affects importing and exporting. Inflation is occurring over fear that the oil prices are going to keep rising, but at the same time as our dollar affects imports and exports we’ll be soon have a different style of economy: instead of us importing everything we’ll be able to export just about anything at a lower cost and for a lower price-of which even China’s sweatshops couldn’t compete.
Why else do you think everything “made in China” has been so cheap for the last decade? They were able to artificially de-value their currency to the point that they could export products for a lower price at a lower cost. And now that the dollar is being degraded, we’ll soon be in China’s position when it comes to exports.
And so, the cycle will continue to occur until someone puts an end to it.
Of course, now that the housing market bubble has busted open, foreigners will inevitably start investing in real estate here at home and start paying all sorts of taxes that we pay.
TLDR version: The economy must have its ups and downs, and Roosevelt was an idiot for interfering. |
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Posted On: 04/04/2008 7:58AM | View GRX Dragon's Profile | # |