Kindle Posted April 14, 2017 Group: Royal Member Followers: 53 Topic Count: 88 Topics Per Day: 0.03 Content Count: 4,064 Content Per Day: 1.37 Reputation: 3,748 Days Won: 8 Joined: 02/23/2016 Status: Offline Share Posted April 14, 2017 U.S. dollar drops sharply after Trump calls it 'too strong' President Trump caused the U.S. dollar to slump Wednesday. The dollar dropped 0.7%, a major move, after Trump told the Wall Street Journal that the dollar is "getting too strong." "I think our dollar is getting too strong, and partially that's my fault because people have confidence in me," Trump said. "But that's hurting -- that will hurt ultimately." The dollar hit its highest level in 13 years shortly after Trump won the election. It was widely viewed as a sign that investors believe America will grow faster than other parts of the world. But now the dollar might be getting too mighty. The president is worried that US businesses, especially manufacturers, won't be able to compete. American goods are more expensive relative to European or Japanese products when the dollar's value is too high. "It's very, very hard to compete when you have a strong dollar and other countries are devaluing their currency," Trump said. http://money.cnn.com/2017/04/12/news/economy/us-dollar-donald-trump-wsj/ Link to comment Share on other sites More sharing options...
other one Posted April 14, 2017 Group: Worthy Ministers Followers: 29 Topic Count: 593 Topics Per Day: 0.08 Content Count: 55,875 Content Per Day: 7.55 Reputation: 27,625 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted April 14, 2017 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. Link to comment Share on other sites More sharing options...
MorningGlory Posted April 14, 2017 Group: Royal Member Followers: 0 Topic Count: 1,022 Topics Per Day: 0.16 Content Count: 39,193 Content Per Day: 6.13 Reputation: 9,977 Days Won: 78 Joined: 10/01/2006 Status: Offline Share Posted April 14, 2017 Having the value of the dollar come down a bit is simply a correction. It's actually beneficial for U.S. businesses. But I don't understand how it falls just by the POTUS saying something either. Link to comment Share on other sites More sharing options...
Kindle Posted April 14, 2017 Group: Royal Member Followers: 53 Topic Count: 88 Topics Per Day: 0.03 Content Count: 4,064 Content Per Day: 1.37 Reputation: 3,748 Days Won: 8 Joined: 02/23/2016 Status: Offline Author Share Posted April 14, 2017 18 minutes ago, other one said: I'm not sure I understand how the president lowers it just by speaking about it. That's what I don't understand. Link to comment Share on other sites More sharing options...
The_Patriot21 Posted April 14, 2017 Group: Worthy Ministers Followers: 28 Topic Count: 338 Topics Per Day: 0.05 Content Count: 15,676 Content Per Day: 2.46 Reputation: 8,498 Days Won: 39 Joined: 10/25/2006 Status: Offline Birthday: 02/27/1985 Share Posted April 14, 2017 Because it's always trumps fault...the mighty dictator speaks and it happens... Link to comment Share on other sites More sharing options...
other one Posted April 14, 2017 Group: Worthy Ministers Followers: 29 Topic Count: 593 Topics Per Day: 0.08 Content Count: 55,875 Content Per Day: 7.55 Reputation: 27,625 Days Won: 271 Joined: 12/29/2003 Status: Offline Share Posted April 14, 2017 but there is notthing wrong with the dollar weakening.... it lets people buy more of our products and helps stop the wealth leaving our country. Link to comment Share on other sites More sharing options...
Guest Posted April 14, 2017 Share Posted April 14, 2017 This is very good for Americans who have money invested in foreign currency. It is also good for corporations who have investment or do business oversees. IOW good for business, not so much for individuals. The main way that this affects the average American is in relation to the exchange rate. For example, my husband and I are vacationing in the Caribbean at the end of the month. Our vacation just became more expensive due to the exchange rate. This is a bad time of year for the dollar to go weak for those Americans who wish to travel outside the U.S. for vacation or business. Link to comment Share on other sites More sharing options...
The_Patriot21 Posted April 14, 2017 Group: Worthy Ministers Followers: 28 Topic Count: 338 Topics Per Day: 0.05 Content Count: 15,676 Content Per Day: 2.46 Reputation: 8,498 Days Won: 39 Joined: 10/25/2006 Status: Offline Birthday: 02/27/1985 Share Posted April 14, 2017 If business is good, it will help the individual as well. More business equals more jobs and more money. Link to comment Share on other sites More sharing options...
Guest Posted April 14, 2017 Share Posted April 14, 2017 7 minutes ago, The_Patriot2017 said: If business is good, it will help the individual as well. More business equals more jobs and more money. 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. Link to comment Share on other sites More sharing options...
Guest shiloh357 Posted April 14, 2017 Share Posted April 14, 2017 5 hours ago, MorningGlory said: Having the value of the dollar come down a bit is simply a correction. It's actually beneficial for U.S. businesses. But I don't understand how it falls just by the POTUS saying something either. It doesn't. Link to comment Share on other sites More sharing options...
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