President Donald Trump on Tuesday said he has no problem with the sharp decline in the dollar that’s been triggered by convulsions in global bond markets and growing skepticism about the U.S.’s reliability as a trading partner.
“I think it’s great,” Trump told reporters in Iowa when asked about the currency’s decline. “Look at the business we’re doing. The dollar’s doing great.”
Trump has long maintained that a weaker currency helps industries that he’s seeking to boost — particularly manufacturers, but also oil and gas. And U.S. corporations that export goods and services abroad typically report stronger earnings when they can convert foreign payments into a weaker greenback.
Is my smooth brain processing this correctly?
He wants a dollar to be less valuable so that a company can convert their foreign sales into “more” US currency, saying “hey look, because of Trump I made $1billion” but that $1 billion is actually only as valuable as $500 million would have been? So we can all go “hur dur big numba good good!”
Is that it?
Ha, I’d say to try not to align anything he does with logic - you will likely not be able to make much of a connection, unfortunately. Your smooth brain processing still isn’t smooth enough to be at their level.
Damn, I’m still not stupid enough to comprehend their greatness lol
He’s just pushing for whatever Putin tells him to do.
Yeah, but don’t worry, they defeated inflation!
Except that the company does make actual profit from the declining value of its employees’ salaries.