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Strong dollar creating headwinds to US businesses

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Posted By: Moritz55, 10/28/2022 12:47:30 AM

The US dollar is flying high. For much of the world this is a tragedy, as currencies around the globe depreciate and economies come under strain as a result. But it's not just non-US citizens, businesses and governments that are feeling the pain. Some American businesses are also feeling headwinds on their revenues from the surging greenback. While American tourists relish their cheap holidays in the UK and Japan, and importers enjoy cheaper goods from abroad, US exporters and businesses with international operations are experiencing losses as their products and services become too expensive for foreign buyers.

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Interesting foreign perspective

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Reply 1 - Posted by: DVC 10/28/2022 1:15:09 AM (No. 1316509)
One of my investment advisors for many years put the problems with the US economy in perspective. He said, "Yes, the US economy has all sorts of problems, no question. But contrast it with any other economy and the world. The best way of thinking about it is that the US economy is the least ugly fat girl at the dance. Yep, fat and ugly, but not nearly as fat and ugly as all the others." So.....yep, we have problems, but the reason that the dollar is strong is that everyone wants to have dollars, not their own 'fatter and uglier' currency so the dollar stays strong.
9 people like this.

Reply 2 - Posted by: chumley 10/28/2022 7:18:47 AM (No. 1316616)
I see these stories from time to time, and I call BS. A strong dollar means my savings and retirement accounts will buy more. My paycheck will buy more. Thats a good thing. The alternative is a weak dollar that will buy less. Why is that good? People overthink things too much. Good is bad. Truth is lies. Dumb is smart. Ugly is pretty. What a stupid world we live in.
6 people like this.

Reply 3 - Posted by: red1066 10/28/2022 7:44:27 AM (No. 1316636)
The Euro finally made it back to being even with the dollar. All summer it was a few cents shy of that. I don't recall a time when the Euro was priced under a dollar.
1 person likes this.

Reply 4 - Posted by: NamVet70 10/28/2022 9:17:12 AM (No. 1316752)
We don't have a strong dollar now while we are experiencing high inflation. The Biden regime is devaluing the dollar and reducing faith in the government by spending, burying us in debt and destroying our economy. There may be other currencies that are worse but the dollar is not strong.
3 people like this.

Reply 5 - Posted by: czechlist 10/28/2022 9:32:33 AM (No. 1316785)
BRICS we are a debtor nation and things could chage quickly
1 person likes this.

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