by John Rubino, Dollar Collapse:
The premise of a currency war is that by devaluing its currency a country is able to sell things overseas more cheaply, which gooses its growth at the expense of its trading partners.
If it actually works that way, then you’d expect this chart of the euro plunging against the dollar…
…to be reflected in some sort of strong-dollar related downturn in the US. And right on cue, the Fed reported this morning that American manufacturers are now in the sixth month of a new-orders slowdown:
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