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Devaluing the currency is NOT all Peaches and Cream. Hell if we devalue it enough we can start manufacturing plastic dolls and shipping them to China. But is that necessarily a good thing?
What other consequences are there from a weak dollar other than increased exports and higher manufacturing? The major and most severe to our economy is as Competentone mentioned inflation. The American Consumer makes up roughly 70% of domestic GDP, and rampant inflation is a dangerous sword to be waving around. Or simply ignoring as it appears Maxy poo is doing.
His whole thesis on price control in oil isn’t all that great either. I am sure producers have some ability to manipulate price, but that is hardly the whole story. If the producers of oil were this good at controlling price we wouldn’t have seen oil as cheap as it was for 25 years from the early 80’s to the early 2000’s. It’s not like the middle east got their first econ 101 book in 2003.
Max needs to either go home and sit on his pile of money, or do some more work before he writes his next piece.
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