2 ms·
Why is the dollar going up? I can understand that the Fed's actions are good for Wall Street. Is it going to take a while for the rampant printing of money to c
by rms 19y ago
Why is the dollar going up? I can understand that the Fed's actions are good for Wall Street. Is it going to take a while for the rampant printing of money to catch up?
- bokonist 19y agoSimple: every other major currency block is also pursuing a highly inflationary policy. For instance, the Chinese central bank prints money to buy US bonds. It does this to keep its own exports strong. This is a terrible way for China to maximize its standard of living. But that's not the goal. The goal of the Chinese government is to maintain strong employment and prevent a second coming of the Taiping rebellion. If that means subsidizing Joe Sixpack's HDTV, then so be it.
- pmjordan 19y agoSimple: every other major currency block is also pursuing a highly inflationary policy. Hmm, I don't know, in the Eurozone inflation is high (~3.4%) at the moment, but it doesn't seem to be policy as much as they've been unable to prevent it. Target inflation for the ECB continues to be 2%.