Im not sure it was Seran that actually posted it. I think he passed his phone to someone to type out a coherent response.
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Im not sure it was Seran that actually posted it. I think he passed his phone to someone to type out a coherent response.
Actually not really, America has some of the lowest import tax in the world and it has been for a long time. While countries that America exports too, are much much higher, and who do you think pays this, to keep our products competitive in the foreign markets? Sadly the company does, hence we do. Companies make less money when the dollar is stronger, which means they spend less on labor and other things. It’s common knowledge that a weaker dollar increases the labor force in America, which brings more jobs, and more money, which drives and fuels our economy. It’s common knowledge that a stronger dollar tightens monetary policies, doesn’t create jobs, and hurts our economy.
Sure we have some of the lowest import tax in the world and sure our businesses compete globally. That also drives competition in our domestic market and focuses American businesses into what we do really well, quality services & innovation. Paying our laborers comparatively more than the rest of the world isn’t a net negative either. Speaking of fueling our economy, despite being a net exporter of energy since 2019 we still very much rely on foreign oil sources. A strong dollar helps us there.
We’ll just have to disagree on which is best for America, but agree there are pros and cons to each.
Honestly it really just depends on how you view the economy and what you think are the most important factors.
Oil is also pegged to the dollar, and most oil countries such as OPEC, their currencies are pegged to the U.S. dollar. So oil prices don’t change how you think based on the value of the dollar, and it has no influence on its price, as in a weaker dollar won’t make oil more expensive and vice versa.
Gotta remember, other countries currencies are pegged to our dollar. That is a huge reason why a weaker dollar in my opinion is more beneficial domestically
Any forecasts on how badly Jordan is going to lose today's Speakership vote? They canceled the last one because it looked so bad for him, I imagine if they go through today he'll have two few votes at minimum.