Anonymous
Anonymous asked in Business & FinanceInvesting · 1 month ago

why is the US dollar so strong when the USA is 25 Trillion $ in debt & a icnreasingly inferior GDP compared to China & EU?

nothing hardly is even made in the USA anymore. All our jobs are stupid non essential "service jobs". unemployment is over 10 - 15 percent

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  • 1 month ago
    Favourite answer

    "nothing hardly made" Sorry to burst your bubble but USA is the largest manufacturer on earth. All the good stuff is made in USA. Just not cheap household junk. I have been in mfg for over 40 years. I am grandpa. China has about equaled USA in mfg now. But their products are not acceptable quality on the world markets. We make good stuff. Building interiors, and exteriors. Equipment for all types of business use from medical to heavy machine. Mining, drilling, refining, most people have no idea how much stuff is made in USA. When you go to the gas station or department store, all that building and fixtures are made in USA. And the home you live in. plumbing, wiring, heating, drywall, lumber, all made in USA (or Canada). No doubt China is the worlds next rising superpower. But they aren't there yet. They barely make aircraft. 

  • Bryce
    Lv 7
    1 month ago

    The huge deficits and irresponsible tax cuts and handling of government finances will cause the dollar to fall sharply.

  • It's not true that "nothing is made in the USA anymore" --- the truth is that total value of manufactured goods, corrected for inflation, has never gone down.  The time of peak U.S. manufacturing is "right now", and it's been going up ever since the Hoover administration.  It certainly is true that a lot of cheap, simple stuff like clothing and consumer goods are no longer made in the USA, because they can be made much cheaper in developing economies.  That statement extends even to things as complex as automobiles, but it's not true about complex systems such as airplanes, medical equipment, internet equipment, etc..  The increase in productivity through computers and robots does mean that many fewer workers are needed to produce the ever-higher levels of value in manufactured goods.

    It is a failure of our political system that the increased value due to productivity goes mostly to the top 1%, while workers are systematically left unemployed.  A large part of that is because much of the electorate believes Republican Party propaganda.  The idea that manufacturing is no longer done in the USA is, in fact, one of those bits of Republican propaganda --- a distraction for the voters to make them believe that tariffs are the solution to their income problem.

  • Steve
    Lv 6
    1 month ago

    I honestly dont think that politicians worry about the national debt anymore. No one believes it will ever be paid off, so why worry about it?

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  • 1 month ago

    The US dollar is not that strong when I was only eight years old you can buy an ounce of gold for $40. Now it takes $1,700 to buy that same ounce of gold. The American dollar is a lot weaker than what you care to believe

  • Lv 6
    1 month ago

    because the US currently has the largest military power in the world. so people place their bets on the USA dominating world markets (at least for the moment) but China is quickly moving to surpass the USA in that area as well

  • Troy
    Lv 6
    1 month ago

    You mean less superior.

     And the US still invents nearly every new product and develops nearly every new process. We just have China manufacture it to circumvent labor and environmental regulations. No worry of sexual or racial harrassment suits over there. 

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