Thursday, February 16, 2017
Such complete financial hacks.
The US dollar is becoming a problem.
When I read this headline I was like - Oh really. The dollar was never a problem under the Obama administration. The media just couldn't figure out why out exports were struggling. It was all a giant mystery. They never even noticed as the dollar rose and rose and rose, and cratered oil. For almost TWO YEARS! The dollar was never a problem then. Now? All of a sudden a problem. Now -everyone is an expert on the dollar and the economy.
"The dollar on a global trade-weighted basis has strengthened by about 20-25% over the course of the last year. In the weeks following Trump's presidential victory, the dollar had one of its sharpest rises ever against a basket of peers - and is now up more than 40% from its 2011 low."
Notice how they give a wide timeline to reinforce their stupid wrong point. The truth is that the dollar is right back to where it was when Trump took office. Most of the rise they cite is from the Obama administration. I mean, within like a penny. But everybody freak out over 1 or two cents. Not the 20 or so cents under the Obama administration.