---John Tamny, RealClearMarkets.
This is a good piece by John Tamny on Trump's false economics of devaluing the dollar to improve the economy. I agree that this is a silly idea. To wit:
Do the average people (that Trump wants to help) realize that Trump wants to devalue the dollars they work for each day? Where’s the media coverage of this? Trump, the alleged populist, is out to devalue the dollars earned by common people who frequently lack the hedging knowledge to mitigate government’s theft of their earnings. Some would call it a scandal.
While the president-elect talks a good game about the importance of economic growth, talking down the dollar measure amounts to fakery. To believe it works is as silly as a real estate developer believing he can command more for his properties by devaluing the square foot. This is not the stuff of a serious country.I confess, I have to agree with Tamny on this: Trump is commiting a big boo boo to talk down the dollar and it hurts the middle class worker he purports to help because they're paid in dollars. Why, praytell would he want to devalue their paycheck so it will buy less, rather than more?
Hopefully, Trump will come to his senses about this soon.