"Devaluationist Bunk".

• Author: Rees, Matthew
• Position: Just the Facts: TIE's Executive News Service: THE DOLLAR ISSUE

"The trade-weighted value of the greenback has fallen 21 percent since 2001. So did this weakness in the currency create prosperity or even shrink the trade deficit? No. Since 2001 exports increased 78 percent, but imports increased even more, 85 percent. This left the trade deficit twice as large in the third quarter of 2007 as it was in the last quarter of 2001."

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