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(NPR)   NPR wants you to know that while you may be celebrating a strong dollar, others are actually being hurt by it. For example, you haven't even thought once about poor, suffering multinational corporations, have you? Try thinking of others for a change   ( divider line
    More: Sad, United States dollar, Euro, value of the U.S. dollar, Currency, Pound sterling, strong dollar, likes of China, U.S. dollar's value  
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324 clicks; posted to Business » and Main » on 27 Sep 2022 at 11:35 AM (9 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook

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2022-09-27 9:29:20 AM  
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/Dark Brandon indeed
2022-09-27 11:46:17 AM  
But I was assured that fiat currency was dying and crypto would become ascendant.

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2022-09-27 12:00:57 PM  
But you do think of them. Daily, sometimes, if you have Prime.

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2022-09-27 12:27:49 PM  
It's not so much the multinational corporations, but 1) basically everybody in foreign countries who buys dollar-denominated goods, and 2) everybody in foreign countries who has dollar-denominated debt. I understand the latter applies to a lot of third-world countries that have unreliable financial systems.
2022-09-27 12:45:28 PM  

Mad_Radhu: But I was assured that fiat currency was dying and crypto would become ascendant.

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The dollar is going to die... from being TOO strong!

/Multinational corporations have no excuse. They have the resources to hedge foreign exchange volatility, no need to feel sorry for them.
//It definitely does hurt the average person in Europe or Asia who has their commodities priced in USD
///luckily commodities are crashing... I mean, due to a forecasted global recession, but still... good, I guess...
2022-09-27 4:45:57 PM  
It's not multinationals only. Everything slows when the dollar is strong.

Imports become cheaper so the American industries become less competitive.

Huge amounts of cross currency transactions occur in the USD, so when the dollar strengthens my friend in Peru can't buy as many goods from the factories in China producing the wares she sells in Lima cause she has to buy dollars first and gets less Peruvian Sol for her money.

Obviously it's great for American citizens traveling and often at the store, but it reverberates a lot through out the world when the dollar strengthens against whichever currency is being used for a transaction.
2022-09-27 6:15:06 PM  
No amount of self sacrifice can fix a century of bad economic policies in India.
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