There's an article on Yahoo News right now about how the USA may weaken the dollar in an effort to hurt China and win the trade war underway with that nation. If that happens, the article says, it would damage US credibility and harm America's ability to deal with its allies. It would also damage the economy. It sure sounds pretty bad, doesn't it?
There's a problem with the article, however: there's no basis for thinking that the Trump administration has any plans to weaken the dollar. None! So the article relies instead on the paradigm of "experts say" that the USA "might decide" to weaken the dollar. The experts aren't even identified in the article.
Think about this. If I wrote a post in which I said that "experts say" that Chuck Schumer could announce that the Democrats in the Senate all support repeal of the First Amendment to the Constitution and that such a change would be a bad thing, would it be any different from what Yahoo News just did? I don't think so.
Consider this. The chief economic adviser in the White House is Larry Kudlow who is known to be a very great supporter of a strong dollar. There's no way he would advise going for a weak dollar. Consider further that over the President's term of office, the dollar has gotten consistently stronger as the US economy strengthened. No action was taken to counter the strength of the currency. In other words, exactly the opposite of what the Yahoo News article discusses has been taking place.
If the President actually does something or at least announces that he is going to do something, I have no problem with anyone in the media discussing the pros and cons of that move. It's counterproductive, however, for the idiots in the media to trot out unnamed "experts" to say that something could happen just so they can write an article about what a bad move that would be by President Trump. Criticize him for what he does or says, not what some fool says he might do.
There's a problem with the article, however: there's no basis for thinking that the Trump administration has any plans to weaken the dollar. None! So the article relies instead on the paradigm of "experts say" that the USA "might decide" to weaken the dollar. The experts aren't even identified in the article.
Think about this. If I wrote a post in which I said that "experts say" that Chuck Schumer could announce that the Democrats in the Senate all support repeal of the First Amendment to the Constitution and that such a change would be a bad thing, would it be any different from what Yahoo News just did? I don't think so.
Consider this. The chief economic adviser in the White House is Larry Kudlow who is known to be a very great supporter of a strong dollar. There's no way he would advise going for a weak dollar. Consider further that over the President's term of office, the dollar has gotten consistently stronger as the US economy strengthened. No action was taken to counter the strength of the currency. In other words, exactly the opposite of what the Yahoo News article discusses has been taking place.
If the President actually does something or at least announces that he is going to do something, I have no problem with anyone in the media discussing the pros and cons of that move. It's counterproductive, however, for the idiots in the media to trot out unnamed "experts" to say that something could happen just so they can write an article about what a bad move that would be by President Trump. Criticize him for what he does or says, not what some fool says he might do.
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