Drudge Retort: The Other Side of the News
Wednesday, January 24, 2018

Whether or not the White House choreographed the dollar's slide to its lowest level in three years, the U.S. administration is certainly providing ammunition for those betting that the greenback will continue to weaken. "Obviously a weaker dollar is good for us as it relates to trade and opportunities," Mnuchin said at Davos. "The currency's short term value is "not a concern of ours at all." In the past, Mnuchin has said President Trump's $1 Trillion infrastructure package will depend heavily on foreign investment. "Working with foreign investors is going to be a critical part of any plan we put forward," Mnuchin said in June 2017. Saudi Arabia made a tentative pledge to invest $20 billion in an infrastructure fund managed by The Blackstone Group, a private investment firm led by Trump economic advisor Steve Schwarzman, according to The Hill article.

Advertisement

Advertisement

More

Comments

Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

More debt = weaker dollar.

$1 Trillion annual deficits will kill the dollar.

I guess so long as dotard can blow $3 million per golf weekend traveling to Mango Lameo, its all good.

#1 | Posted by 726 at 2018-01-24 12:07 PM | Reply | Newsworthy 2

Prepare for your money to buy less. For things to become more expensive.

#2 | Posted by BruceBanner at 2018-01-24 12:20 PM | Reply | Newsworthy 1

All of Trumps family and staff are going to be in Davos.

It will be like a European Vacation with the whole gang.

But, I hear there is a lot of high potential for avalanches this year.

And I hear this God fellow works in mysterious ways.

Now let us pray.

That God will Bless America.

#3 | Posted by donnerboy at 2018-01-24 02:45 PM | Reply | Newsworthy 1

White House Happily Flaunts a Weak Dollar at Davos

Lets break this all down, ------------- style ...

White House = aka, Trump
Weak Dollar = aka, Little Trump, aka Tiny Trump
Davos = Stormy Daniels, aka Stormy Daniels
Flaunts = Trump daring Evangelicals to criticize him for banging porn stars

Welcome to XXX-rated-Griftopia-America.

#4 | Posted by PinchALoaf at 2018-01-24 05:49 PM | Reply | Funny: 1

He won't be flaunting Melania.

#5 | Posted by morris at 2018-01-25 12:27 AM | Reply

"Obviously a weaker dollar is good for us as it relates to trade and opportunities"

When Trump, Mnuchin, Cohen, and Wilbur Ross all showed up, I wondered what asset they'd manipulate for their plunder.

The most obvious answer I could see was the strong dollar...so I rebalanced my investments, and targeted all new investing into worldwide funds, betting on a purposefully weaker dollar.

Best year of my investing life.

Betting against Dubya's lies made my first killing. Betting against the Dotard is like taking candy from a baby.

#6 | Posted by Danforth at 2018-01-25 12:35 AM | Reply | Newsworthy 2

All part of MAGA, eh?
"Obviously a weaker dollar is good for us"...yes, and the sky is green and up is down, in Trumpworld. And there was no collaboration!
Trumpvoters©, this is what happens when you elect a mentally unstable incompetent who surrounds himself with NOTHING but unqualified donors and sycophants.

You own this.

#7 | Posted by e1g1 at 2018-01-25 08:25 AM | Reply | Newsworthy 1

#6 Had this discussion with my wife last night. We know how this will turn out. Let's go ahead and make the wise choices.

#8 | Posted by BruceBanner at 2018-01-25 11:34 AM | Reply

Haha!!! China publicly acknowledges they devalue their currency and the Reps try to fight it but the Dems disagree and argue a weak currency isn't a problem. Then a Rep takes their queue and starts devaluing our dollar and HOLY CRAP THE WORLD IS ENDING AND THIS IS TERRIBLE AND OUR BABIES WILL BE EATEN!!!

#9 | Posted by humtake at 2018-01-25 11:42 AM | Reply | Newsworthy 1

Here's a positive side of a weak US dollar:

"There are other benefits to a weaker dollar for large U.S. exporters. ... If the dollar stays consistently weak for extended periods of time, U.S. multinationals may also be compelled to keep more manufacturing and production operations in the U.S., because the cost of foreign goods can be higher."
How U.S. Firms Benefit When The Dollar Falls - Investopedia
www.investopedia.com


"Prices on imported goods rise. Consumers must pay more for imports and foreign travelers may need to scale back a vacation because it is more expensive when the dollar is weak. However, a weak dollar also means our exports are more competitive in the global market, perhaps saving U.S. jobs in the process.Mar 21, 2017"
Strong Dollar vs. Weak Dollar: What Does it Mean? - The Balance
www.thebalance.com

Like anything in economics [and life] there are pros and cons, but as you can see, it is not all 'bad news'.

#10 | Posted by MSgt at 2018-01-25 08:59 PM | Reply

The thousand dollar loaf of bread is one problem.

#11 | Posted by BruceBanner at 2018-01-26 01:08 AM | Reply

The thousand dollar loaf of bread is one problem.
#11 | POSTED BY BRUCEBANNER AT 2018-01-26 01:08 AM | FLAG: Please DO let us know when you find it here.

#12 | Posted by MSgt at 2018-01-26 01:51 AM | Reply

#12 Sure bro. Why would that be the best plan? Ring the alarm after we be effed? Welcome to GOP management 101.

#13 | Posted by BruceBanner at 2018-01-26 12:40 PM | Reply

Comments are closed for this entry.

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2018 World Readable

Drudge Retort