Trump calls General at 3am to ask if a strong or weak dollar is best for the economy

[Cyberowl]

Has anyone in this thread answered the question of whether a strong or weak dollar is best for the economy, because I would like to know.

Well, there is no simple answer to that question. Even professors in macroeconomics disagree about it, because for every scenario it is different. An easy answer is the wrong answer. You don't have to factor in exports, imports, but also the terms of trade, the reactions of the FED, capital movement, expectations on the market, the interest level, manipulation, consumption quotas, price levels...all while modelling the world economy, your own economy and there are always unknown variables. How multiply the factors I listed by 1000 and you have all the things you would have to also consider. It's a bitch to solve that question.

[Tack980]

The fact that we can't tell Trumps real stupidity from his fake stupidity should be of concern to any rational person.

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To be fair to Trump - it depends on what you are trying to achieve.

If your own currency is weak it encourages other countries to buy stuff and revs up the economy
HOWEVER
If your own currency is weak, it means that you may find capital purchases may be more expensive.

If your currency is strong, other countries will buy less from you and your interest rates will be high leaving investment to be a problem.
However it means capital purchase are cheaper, and infrastructure spending is more feasible.

That's why most countries aim for a range, rather than any fixed amount. Australia aims for around 80c in the USD.

i.e. - complicated

In other words - irrespective of the article's veracity Trump asking someone is reasonable, but asking the wrong person - not so much.

Yeah to be fair, this is a touchy subject to be debated for. Problem is lately he has directly released stupid fake information, that Huffington post seems believable in this story. (Until I see a source... yeah.... i dont trust it.... I will just make fun that he believes terrorist attacks arent reported by the media... because fox news will ignore them while Obama was in office.... )

[Deleted]

Dear Donald,

if you want to export a lot of things, the dollar has to be worth less.

If you want to buy more things from others, the dollar should be worth more.

You dont need to thank me, Donald.

[Elba]

ITT Trumpites calling news they don't like and make their Dear Leader look bad fake. Typical. You can't just yell fake and put your fingers in your ears.

[Hey There Guys its Metro]

No source, and Huffington Post being the one reporting it.

Yeah...

Ya exactly. Title of this should be "Huffington post claims ......" then the rest.

I'm sick of seeing nonsense like this appear on a gaming forum, especially when its not even legitimate.

[gyrados]

lol huffington post seriously?

[Celista]

...did he really not take one economics course when he was at Wharton? This is like, Econ 101 stuff.

[zEmini]

fake news strikes again?

[Breccia]

Huffington Post, easily one of the least credible news sites.

lol huffington post seriously?

fake news strikes again?

How's that murder rate working for you?

This argument has no weight as long as Trump himself routinely uses objectively false information. Sorry, but if you dismiss HuffPost as false because of an unverified source, you must dismiss Trump as worse because of a proven factually false source. Otherwise what you are doing is blatant hypocrisy.

...did he really not take one economics course when he was at Wharton?

Um, actually...there's not a lot of stories about his time at Wharton.

[want my Slimjim]

He's asking a question to find out. There's no such thing as a stupid question.

[Breccia]

He's asking a question to find out. There's no such thing as a stupid question.

So, you're arguing that it's fine that Trump allegedly didn't know something from a high school economics course? Leaving aside his current role, how do you survive in international business for 50 years not knowing?

And why ask a general?

This is a very odd defense of Trump. Would you want your heart surgeon to ask, just before you pass out, "hey what do blood types mean?" And would you want him to ask the security guard in a room filled with nurses?

[Celista]

Um, actually...there's not a lot of stories about his time at Wharton.

Wow. How do none of his classmates remember him? That is quite astounding.

Honestly though, he seems to be lacking fundamental knowledge about things that are covered in undergraduate intro-level econ classes (effects of tariffs, influence of currency valuation on economies). I took some graduate level finance courses and the shit he's inquiring about was covered at the undergraduate level.

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He's asking a question to find out. There's no such thing as a stupid question.

Considering he went to Wharton, it is in fact a stupid question.

That being said, I would prefer he ask the question (to someone qualified) than not ask it at all. But he should have known the answer to that question already.

[Turaska]

President Trump turned out to be shit at his job? I feel the need for a Nicholas Cage meme right about now.

[Thelin]

Can medias in US not be held accountable before the court for spreading false information and defamation?

...it's the huffington post..they're not what you'd consider to be real/reliable media.

[Darkeon]

I don't know what's worse, the scenario written in this piece, or that some people will actually believe it.

[cubby]

http://www.huffingtonpost.com/entry/...b04061313a1fbb

WASHINGTON – President Donald Trump was confused about the dollar: Was it a strong one that’s good for the economy? Or a weak one?

So he made a call ― except not to any of the business leaders Trump brought into his administration or even to an old friend from his days in real estate. Instead, he called his national security adviser, retired Lt. Gen. Mike Flynn, according to two sources familiar with Flynn’s accounts of the incident.

Flynn has a long record in counterintelligence but not in macroeconomics. And he told Trump he didn’t know, that it wasn’t his area of expertise, that, perhaps, Trump should ask an economist instead.

Trump was not thrilled with that response ― but that may have been a function of the time of day. Trump had placed the call at 3 a.m., according to one of Flynn’s retellings ― although neither the White House nor Flynn’s office responded to requests for confirmation about that detail.

Wow. Just . . . wow. My 10 year old would know who to ask about this - and would probably do a better job.

Who the fuck voted for this clown again? And why?

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He's asking a question to find out. There's no such thing as a stupid question.

Wanna bet?

[SDMF]

I don't know what's worse, the scenario written in this piece, or that some people will actually believe it.

It doesn't matter whether it's true or not. If it fits their narrative they will believe in anything.

[Allerius]

Ah yes, anonymous 'leaks' from a left leaning site saying ridiculous crap. Seems legit!

[Deleted]

Fake news, the end.

[want my Slimjim]

Wow. Just . . . wow. My 10 year old would know who to ask about this - and would probably do a better job.

Who the fuck voted for this clown again? And why?

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Wanna bet?

Um yes go ahead