Currency devaluation pumps exports and dumps assets/services, so it's not necessarily a bad thing. It promotes a diversified economy that builds real things. Ma

Currency devaluation pumps exports and dumps assets/services, so it's not necessarily a bad thing. It promotes a diversified economy that builds real things. Many countries seek it out as a matter of policy. Currency appreciation dumps exports and pumps assets/services. You know how "we used to make shit in this country, build shit. Now we just stick our hand in the next guy's pocket"? Yeah, that's what currency appreciation does (or, more specifically: reserve currency status where we can/must run a current account deficit without seeing the usual depreciation). Economists call it "Dutch Disease" because they first described it in the Dutch empire, but it happened to the British and American empires too. Think of it like a resource curse, but the resource is finance. It's good for people with fat brokerage accounts, it's good for Wall St, but if you earn your money by building regular shit for regular people, it's bad news for you. I agree with your conclusion -- our taxation and monetary policy is run for the benefit of wealthy Americans at the expense of poor Americans -- I just think you have the particular issue of currency devaluation a bit backwards. I didn't downvote, but I imagine this is why someone else did.