The definition of inflation is a rise in the cost of goods and services. However the obvious corollary is that the value of the inflated currency drops as compared to other currencies. Think of them as being something you buy, for which you must pay a bit more.
Just shows why the US dollar is the reserve currency of choice. We have the gold and the market reserves, even during a recession, to hold things steady. The oil bourses will retain the dollar as any other currency fluctuates even more. I never trusted bitcoin and the other made up currencies. Some say they are a hedge. I prefer gold and greenbacks.
Actually, the strong dollar is going to make an upcoming trip to the UK much cheaper than it usually is for me. That said, it makes Brits trips to the States a bit more expensive than it usually is. Eventually, things will balance again. It’s the nature of the beast.
So, does Biden get credit? I’ve always thought that presidents rarely have direct impact on the ups and downs of the business cycle, but fair is fair, right?
Concretionist almost 2 years ago
The definition of inflation is a rise in the cost of goods and services. However the obvious corollary is that the value of the inflated currency drops as compared to other currencies. Think of them as being something you buy, for which you must pay a bit more.
hawgowar almost 2 years ago
Just shows why the US dollar is the reserve currency of choice. We have the gold and the market reserves, even during a recession, to hold things steady. The oil bourses will retain the dollar as any other currency fluctuates even more. I never trusted bitcoin and the other made up currencies. Some say they are a hedge. I prefer gold and greenbacks.
GiantShetlandPony almost 2 years ago
Actually, the strong dollar is going to make an upcoming trip to the UK much cheaper than it usually is for me. That said, it makes Brits trips to the States a bit more expensive than it usually is. Eventually, things will balance again. It’s the nature of the beast.
Panic does no one any good.
Havel almost 2 years ago
So, does Biden get credit? I’ve always thought that presidents rarely have direct impact on the ups and downs of the business cycle, but fair is fair, right?