Many economists believe the dollar will decline in value – and needs to decline – relative to other currencies. The reason: The record US trade deficit shows no signs of shrinking on its own accord. The larger it grows, the greater the risk of a lsquo;hard landing’ for America if other nations become worried about America's ability to repay foreign creditors, who are now lending some $1.6 million per minute to finance overall US spending. (Christian Science Monitor, Thursday)
Forget the fuss–and remember the benefits of trade.
FEE Timely Classic
The Trade Deficit: Much Ado About Nothing by Lawrence W. Reed