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Inflation and Devaluing the Dollar Does NOT Lead to American Prosperity
A couple days ago, my idol - Larry Kudlow - highlighted the effects of inflation and how it is destroying the dollar.
A stable reliable dollar is a cornerstone of prosperity in out nation. As a matter of fact, continued inflation of the world’s reserve currency is an inflationary tax hike and will affect food, retail gasoline, imports and will ultimately impoverish our nation.
- The dollar has fallen 2% against the Euro this month.
- The dollar index has fallen 4.8% since Sep. 21 Fed meeting
- The following commodities/indexes are up: Industrial prices, imports agriculture, CRB foodstuff, raw material, and oil
- The Fed has made it very clear that they want higher inflation and is determined to print more money
- Weak dollar is not good for manufacturing because domestic companies are paying higher prices for imports
- As the world’s reserve currency, we have an even higher obligation to maintain the value of the US dollar
- A weak dollar will lead to high inflation, high interest rates, and a tax hike on all US consumer
(Source: cnbc.com)
