The above Sinking Currency, Sinking Country is a recent article of Mr. Buchanan; a respectful experienced political pundit with conservative inclinations who has championed and popularized an economic theme with sensitive political implications. His theme is that trade agreements such as NAFTA, WTO, and favorite nation status hurt domestic labor and manufacturing interest; that the selling of U.S. debt instruments jeopardize America’s sovereignty endangering our nation’s children with insolvency and that in the present the plunging value of U.S. dollars to foreign currencies will encourage other than American investors to purchase the vital infrastructure of this nation on the cheap.
A Global Market
By William Robert Barber
Also, please read my recent related postingbelow:
China as a Trading Partner
I take the position that the ratio of the U.S. dollar to other currencies is of insignificant material interest to the vital economic welfare of the United States.
Mr. Buchanan’s comment that the dollar has plummeted in value because America has been living beyond her means by borrowing $2 billion a day from foreign nations to sustain the American Imperium is a bold face misunderstanding of the ‘real world.’ The debtor-creditor relationship that America enjoys is for three pragmatic reasons: Firstly, America’s military is not only the world’s most efficient but the only superpower military that has world-wide distribution providing surety and direct protection of international assets. Secondly, America is the only nation on earth where the rule of law applies fairly and evenly; in other words, foreign investors (including nation states) will have vigorous in their interest proficient legal representation. Thirdly, America is the largest most voluminous consumer purchasing nation that has ever existed; all manufacturing nations want to export their goods to the American market. Read More »