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U.S. dollar drops sharply after Trump calls it 'too strong'


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17 minutes ago, JaniceR said:

More money for the wealthy corporations.

The only jobs that corporations create in the U.S. are low wage jobs that you have to go through a temporary agency for.

Oh wait!!! There are also the fast food, big box store, low wage jobs that have run out all the small businesses all over America. We now have a service economy instead of a manufacturing one. 

So to the average individual, it makes no difference, unless you travel or do trade internationally.

Actually you are incorrect. But even so, low wage jobs are still more jobs. But think of it this way, let's just compare one industry I'm familiar with, coal.

We have several coal mines in our area. When business picks up, they yes, hire more entry level people (equipment operators, laborers, etc) but they also expand their higher paid positions such as electricians, geologists, etc. And that's not all, they also start calling in contractors to do the work they cannot do themselves and the process continues with the contractors.

It doesn't end there...well the contractors need tools and supplies, so you see business in the parts area pick up...and with all this you see more people enter he area....and with that you see more retail stores and service stations open up to cater to the increase in people.  And that's just in one industry.

It does, believe it or not, have a trickle down effect. It's not immediate but it does.

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15 minutes ago, The_Patriot2017 said:

Actually you are incorrect. But even so, low wage jobs are still more jobs. But think of it this way, let's just compare one industry I'm familiar with, coal.

We have several coal mines in our area. When business picks up, they yes, hire more entry level people (equipment operators, laborers, etc) but they also expand their higher paid positions such as electricians, geologists, etc. And that's not all, they also start calling in contractors to do the work they cannot do themselves and the process continues with the contractors.

It doesn't end there...well the contractors need tools and supplies, so you see business in the parts area pick up...and with all this you see more people enter he area....and with that you see more retail stores and service stations open up to cater to the increase in people.  And that's just in one industry.

It does, believe it or not, have a trickle down effect. It's not immediate but it does.

I am not disagreeing with what you are saying. But most of those jobs will be be low wage jobs through temporary agencies. 

Still, none of this has anything to do with the strength of the dollar internationally. 

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I would rather you spend your money here in the US....   Go see Yellowstone or Disney for that matter......     there are awesome beaches in Florida....

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2 hours ago, JaniceR said:

I am not disagreeing with what you are saying. But most of those jobs will be be low wage jobs through temporary agencies. 

Still, none of this has anything to do with the strength of the dollar internationally. 

Depends on the industry....for example in the coal mines, yes a lot will come from temp agencies, but our contractors rarely, if ever use temp agencies. And neither do most retail/food or parts stores around here to.

Oh, and fyi most of the "temp" workers our coal mines hire get paid on average between 26-30 dollars an hour...and average anywhere between 40-80 hours a week. So an increase in business, in this case coal, will greatly benefit everyone involved. Even those "low wage temp" jobs your railing about.

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Well, I hope the coal mining jobs in Wyoming as well as other places come back. From what I am reading it is in bad shape. I will be praying.

 

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12 hours ago, other one said:

It's kind of the curse of having the global currency...

I'm not sure I understand how the president lowers it just by speaking about it.

The dollar is traded much like stocks are, people buy and sell bonds based in dollars.  If what the president said was a cause of concern then people would dump the US bonds and invest in other currency, thus bringing the value of the dollar down.

The words of the President of the US hold great power, which is why the POTUS should choose his words wisely. 

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7 hours ago, other one said:

I would rather you spend your money here in the US....   Go see Yellowstone or Disney for that matter......     there are awesome beaches in Florida....

Been to Yellowstone, loved it. You couldn't pay me to go back to Disney.

We are going to the Caribbean to buy a home. We are moving there next year.

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Just now, JaniceR said:

Been to Yellowstone, loved it. You couldn't pay me to go back to Disney.

We are going to the Caribbean to buy a home. We are moving there next year.

Sounds good! I was thinking of at least going there for 6 months just to see what it was like. But I never had the time 

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1 minute ago, worthy said:

Sounds good! I was thinking of at least going there for 6 months just to see what it was like. But I never had the time 

It's awesome. I bet you would love it. We have been all over the Caribbean through the years. 

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