XPost: alt.fan.rush-limbaugh, alt.politics
| Trump's tariffs are 'biggest policy mistake in 95 years,'
| Wharton's Jeremy Siegel says
|
| There's a lot going on at the moment, but the most
| interesting might be how the dollar has been absolutely
| tanked by yesterday's tariff news.
|
| The DXY dollar index has plunged 1.7 per cent today, taking
| it to its lowest since last autumn and extending its 2025
| decline to almost 6 per cent.
|
| In fact, the dollar is sliding against every single other
| major currency (oh, and the Swedish krona). Given how so
| many analysts long proclaimed that tariffs would be dollar
| positive, this is pretty notable.
|
| Why is this happening? The orthodox view was that tariffs
| were positive for the dollar because they are inflationary
| -- and therefore keep rates high -- and make the US
| currency scarcer.
|
| However, the dollar's recent weakness could be indicative
| that these factors are getting swamped by broad and growing
| international misgivings over the US. The madness behind
| the methodology of the recent tariffs certainly doesn't
| encourage faith in the coherence of US policymaking.
| ...
<
https://www.ft.com/content/7664bc1e-9551-430d-b64b-ccae1b7d1916>
--bks
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