So long and goodbya-eee
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At least wait to see if this continues
This is actually one of Trump’s stated goals, to weaken the U.S. dollar. He believes that it will make American industry more competitive.
It is at odds with his goal of maintaining the U.S. dollar as the international reserve currency…
Are we that suprised coming from a guy that bankrupt a casino?
Just like a real-life Trump business! Seriously, have you seen his business track record? The only thing he was good at was getting richer while his companies went bankrupt. Grifter from start to finish.
Haha I was thinking that when I made it. Hopefully this is the kind of meme that would bother them if they saw it (since ‘Business Man’ is a core identity characteristic to them)
I don’t think they read Lemmy.
And you’d think this would be bad for people invested in the US market like Elon, but it helps them concentrate wealth. Recessions are good times to buy up shit for cheap if you are one of the few who can afford it.
What does this graph means?
It’s the value of the US dollar over the past 5 days. This is too short of a timespan to assign much meaning to this, but if it keeps dropping, US citizens will eventually have to spend more dollars for the same goods.
In theory, they would also receive more dollars from their job, since they still do the same job and that should be valued the same. But in practice, that’s going to naturally lag behind and companies also have to spend more dollars for resources, so they might never hand out a big enough number of dollars to match the current pay.
No, you don’t understand, it’s all just part of a 5D chess gambit. If they crash the economy hard enough, then it will be cheap to manufacture things in the US! Plus there won’t be any filthy foreigners coming to take the jobs, since the wages will all be worthless, so that’ll fix immigration as well! As an added bonus, the garbage, worthless wages will also make it so it’s cheaper to run understaffed call centers from the US as well, so you’ll never have to worry about hearing someone with an Indian accent after you’ve been on hold for 6 hours. Isn’t it great?
It’s all part of a plan to avoid the mistake of transitioning to an economy that provides well paying jobs for everyone. It’s time to get back to our roots of manufacturing and agriculture, so we can bring back the good old days that are remembered as warmly as that river that caught fire.
I wonder much new construction will cost less imports and immigrant labour. 12/10 foresight. Definitely won’t lead to unrest.
i hope people destroy rich neighborhoods in the riots rather than immigrant ones
I’m leaving the country in a few months and my savings tanking is a legitimate concern. I don’t know a lot about finances. Any ideas how I can squirrel away a bunch of it in case the US goes full sideways before I can leave and move everything over to my target country’s money?
I don’t want to be that guy, regardless of my username!
Gold is probably going to be the easiest intermediary for you to travel with, it’s a pretty good hedge against inflation - but it has been on a bit of a tear lately; so there’s always a risk of pullback.
Alternatively, you can exchange part of your current savings into your target country’s currency? (There will be caps on how much you can travel with, so research that first).
Might be worth seeing if you can buy/invest in Gov’t bonds in your target country, or open up a bank account and deposit the funds into a high-yield savings account or term-deposit.
Lastly, there is always crypto - but that’s probably even more volatile than what the US would be over the next few months.
if you have a brokerage account, you may be able to sell USD for your target currency in it. you could do this slowly over time.
if you can’t do that, you might be able to buy an ETF that tracks your target country’s stock market, but some of these are “currency hedged” and in this case you wouldn’t want that. the ETF would have a fee (MER) that is worth looking up. 1% is high.
tl;dr: it sounds like you want to hedge currency risk and there are products for that, but it requires a brokerage account and some decipline, ymmv
I like the nice touch of Musk driving.
Art of the deal ofc!
