https://www.forexlive.com/news/trump-running-mate-vance-a-supporter-of-us-dollar-devaluation-make-it-easier-to-export-20240715/https://archive.md/pGgA5Donald J. Trump’s selection of Ohio Senator J.D. Vance to be his vice-presidential nominee pairs him with a kindred spirit on trade, taxes and a tough stance on China. But it is their shared affinity for a weak dollar that could have the most sweeping implications for the United States and the global economy.“As your president, one would think that I would be thrilled with our very strong dollar,” Trump said in 2019, explaining that U.S. companies like Caterpillar and Boeing were struggling to compete. “I am not!”It is not clear how Trump would go about weakening the dollar. His Treasury Department could try to sell dollars to buy foreign currency or try to persuade the Federal Reserve to just print more dollars.“I know the strong dollar is sort of the sacred cow of the Washington consensus, but when I survey the American economy, and I see our mass consumption of mostly useless imports on the one hand, and our hollowed-out industrial base on the other hand, I wonder if the reserve currency status also has some downsides, and not just some upsides as well,” J.D. Vance said.Mr. Powell responded by noting that the United States benefits from its reserve currency status, which makes it possible to buy goods all over the world with dollars. He also said there was not an obvious currency to replace it.The 2024 Republican Party platform calls for keeping the dollar as the world’s reserve currency, but Mr. Trump and Mr. Vance could still try to weaken it if elected this year. Robert Lighthizer, Mr. Trump’s former trade adviser, who could be a candidate to be his next Treasury secretary, has been mulling ways to devalue the dollar if the former president wins, Politico reported this year.Trump has called for imposing a 10 percent levy on all imports and a 60 percent duty on imports from China.
>>1316278makes sense, that's what Russia and China both want
>>1316278Fuck this shit, both parties want to destroy the US dollar. Fuck ukraine, fuck israel, fuck the niggers, fuck the jews, I hope Putin will nuke all US cities.
>>1316386>both parties want to destroy the US dollar>I hope Putin will nuke all US cities
So, how does this fight the apparently rampant inflation? The cost of inputs for food and other goods won't drop at the whims of government bureaucrats. Household needs will get much more expensive in dollar terms, and Biden has shown that people remember that shit even if their wages grow to compensate.>But Boeing and CaterpillarMaybe they should design planes whose doors don't fall off and equipment people actually want to buy.
>>1316278For what purpose? What possible benefit would this even have? Does he think it will encourage domestic industry like a tariff? If so, lol, lmao
>>1316440>For what purposeBold of you to suggest right wing fiscal policy has ever been rational.Probably some dumb bullshit like reducing the trade deficit.
>>1316278>Trump VP choice JD Vance calls forstarting to think this person is retarded.
>>1316278So he's Biden's ideal VP pick?
>>1316440You know, there's not much of an article here at all so even a retard can open the link for the full statement.Vance explains his rationale. Whether it's sound or not is the question.
Weird that the Dow is at an all-time high. That is a big GOP boast (when their guy is in office), but crickets when it's the other guy.
>>1316461Imagine celebrating corporate greed.What a fucking CHUD.
I'm a liberal but I will never understand how pointing out how rich billionaires are equates to the economy doing well. Democrats are losing their constituents will this bullshit.
>>1316560It's an appeal to people that hold stocks for their retirement savings, which is a large chunk of older voters. Both parties do it. You don't get it because you're never going to be able to retire because Reagan decoupled economic growth from worker pay with Reaganomics, and Republicans have been and are going to continue to gut social investment and safety nets like Social Security and Medicare to keep you on the hamster wheel until you die so you don't become a welfare queen.Skill issue. Should have been born 20 years earlier.
>>1316278wouldn't be any other way to work the migrants in to our country through some pass and also we would have a higher population density and thus efficiency when people finally realize the climate accords were not a jokeis what I'm hopingt. remember feeling gay ish for maybe 5 seconds my whole life
