The manufacturing sector needs a boost. What can a president do? One old trick is devaluing the national currency. When the Chinese kept their exported goods inexpensive, we stocked up at the Dollar Store (aka the " 87cents store" in Europe) and Walmart. But that dollar isn't buying you as much even in those bargain shops. We are playing the devaluation game too. Not that we have much choice, with our money being rated "junk" by some and more being printed all the time.
But Europe and Japan are playing the same game. So it's a race to the bottom, but can anyone win?
And if we all pile on to the economic luge at the same time, is a wipe out a forgone conclusion?
On the positive side, it will be easier to pay off our enormous debt if our money isn't worth anything.
On the negative side, remember those 1923 photographs of Germans pushing wheelbarrows full of money to buy bread?
"we're number 2"
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