Dalio To Mnuchin: Dont Be Stupid, You Moron

[bronxiteforever]

Hedge fund billionaire Ray Dalio delivers economics lesson to Treasury Secretary:

A weak dollar:
Reduces the currency holder’s buying power in the rest of the world (e.g. dollar weakness reduces Americans’ buying power relative to foreigners’ buying power)
Devalues the debt denominated in the weakening currency, which hurts the foreign holder of that debt
Supports prices of assets denominated in that currency (because of the currency weakness), giving the illusion of increasing wealth
Raises a country’s inflation rate
Stimulates domestic activity

None of this is what the U.S. economy needs right now.

https://dealbreaker.com/2018/01/dalio-to-mnuchin-dont-be-stupid-you-moron/

[spooky3]

1. It hurts American consumers, but its great for big business

That sells overseas. Products we buy are expensive; products they sell are cheap. It’s expensive for you to travel overseas and cheap for travelers to come here—nice for the tourism industry. Is it any wonder which side the Trump admin cares about?

[bronxiteforever]

2. Well said and agree 100%

[spooky3]

3. Thanks!