The dollar slips to it's lowest level since 1973. What this means for you and me.

[justoffal]

They're not gonna be able to give another Plaza Accord a go. I guess they're rebranding that as a Mar-A-Lago Accord now.

I only mention this because some of the humorous justification invoked by some of the usership in this thread seem to be implying that.

Anyway. Devaluation of a nation's currency is pretty much the de facto path toward the insolvency of a nation.

Like I said in a previous thread time to get off of the dollar before it dies.

 

[JimH52]

The previous admin printed money to the tune of $1400 weekly checks and some numbskull starts a thread as though the dollar just now lost value? How did I miss this stupid thread? Oh, that’s right. I have the OP on ignore.

Thanks, Magat!

 

[whitehall]

What does "fastest clip" mean in economic terms? My guess is that it's a desperate attempt by CBS to manufacture bad economic news just before the dollar shows a 3% gain in July. Lefties claimed (but few apologized) that Trump's tariff agenda would throw the U.S. into economic crisis by July 4 but the opposite is happening and the anti-American TDS media hates it.

 

[Frankenstein]

They pissed that away.

LINK

 

[JimH52]

What does "fastest clip" mean in economic terms? My guess is that it's a desperate attempt by CBS to manufacture bad economic news just before the dollar shows a 3% gain in July. Lefties claimed (but few apologized) that Trump's tariff agenda would throw the U.S. into economic crisis by July 4 but the opposite is happening and the anti-American TDS media hates it.

There is a reason the founders gave Congress the responsibility to levie tarrifs. trump's "emergency powers" reason for levying tariffs is maga BS. He says the economy is growing like never before, but then says we need to tariffs to strengthen the economy. He is using tariffs as a political tool. Look at the tariffs on Brazil. They were levied because the Brazilian President prosecuted a trump friend. That is just one example of his stupid reasoning.

As for the damage that these tariffs will inflict, it is a long term damage that we are only beginning to see. I says much money is coming in from the tariffs. Guess whose money that is? It is US tax payers. Companies my be able to absorb the initial tariff levy, but the costs of goods are eventually going to sky rocket. It is a matter of time, You stay tuned, Magat.

 

[Delldude]

Companies my be able to absorb the initial tariff levy, but the costs of goods are eventually going to sky rocke

In some cases. In a lot, the company bringing goods here to sell pays the government a fee or duty to market their products...the product prices aren't affected.