They just penned a letter to Bernanke, in an effort to stop him from implementing QE3. They cite the need to preserve the strength of the US dollar. What they fail to acknowledge is a weaker dollar is beneficial to US exporters. And, moreover, the dollar is barely down over the past two years.
3 month dollar return: +1.9%
6 month dollar return: +0.64%
1 year dollar return: -7.24%
2 year dollar return: -3.95%
Comparatively, the euro is -7.16% over the past two years.
Political bullshit.
If you enjoy the content at iBankCoin, please follow us on Twitter
They’re all full of shit — left, right, and center.
No QE3 = Bloodbath!
Export is about 10% of our economy. We’d be far better off with a strong dollar since we’re consumer-centric.
Hondas half off, bitchez!
__________
WRONG AGAIN.
Exports are more like 13-14% of GDP and one of the few bright spots in this economy. It’s growing.
It’s growing artificially, because we’re zapping our currency. I’d rather people bought our products because they’re good, not cheap. That’s a loser’s game.
And exports were about 12.24% as of last year. Nothing compared to the remainder of our economy. Not enough to move the needle at least.
_____________
“It’s growing artificially, because we’re zapping our currency.”
Your blinders are engaged. Please remove them and refer to the table Fly posted.
Fed will do what is good for the big banks. Other concerns are others’ responsibilities. GOP/Dem public comments/letters are theater for fundraising.