Comment Re:Bad News for USD (Score 1) 519
ignorance is a bliss. If a worthless currency was such a great thing for economy, Zimbabwe would have ruled the world, Argentina would have been up there with it, USSR would have dominated, Weimar Republic of Germany would have drowned the world in its currency.
The GP wasn't talking about a worthless currency. I'm pretty sure theres a middle ground between what we have and Zimbabwe.
NO. It's not the 'overvalued' currency that drives manufacturing jobs overseas. It's WEAK currency coupled with government regulations that destroy incentive to save capital and invest it in local economy, it's all the shit that drives prices up - printing and borrowing and rules that create asset bubbles and minimum wage laws (yes, even that), and all the social obligations that destroy jobs.
I'm not an economist, so you probably know this subject matter better than I do, but some of what you're saying sounds a little off to me. Didn't China kept their currency artificially low to help their economy? A lack of regulation might be one factor in companies moving their manufacturing operations to China, but wasnt the fact that the yuan was weaker than the dollar also a factor? Also, even with all those regulations, the USA is still the https://www.cia.gov/library/publications/the-world-factbook/rankorder/2198rank.htmlmost invested in country in the world. But without the minimum wage law and all those social obligations, what kind of jobs would we have? Again, Im not an economist, but would the size of the middle class shrink if these protections are lifted?
