A year ago the US dollar was worth 4 Israeli sheqels, today 3.38 and it is sinking. What happened? I assumed Israeli exports are flooding the country with dollars, but it is the dollar that lost value. What happened to America that its currency got devalued 20%? Nothing, there is no crisis, in fact, there is raging optimism thanks to Trump's pro-business policies.
The most probable cause, I assume, is the world's panic of a North Korea vs USA nuclear exchange. The Europeans succeeded in creating a crazy image of Trump and frighten themselves and the world. They are selling their dollars. For America, this is an export bonanza.
Isn’t a devalued currency a good thing for a industrialized exporting economy? Japan, South Korea and China have all extremely devalued currencys.
ReplyDeleteNot really. Your imported materials (oil, metals, chips) become expensive. And foreigners buy your best real estate and fuck your best whores.
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