costa rica currency dollars
is selling more goods b/c of a devalued currency really a good thing for the economy and overall health of USA
I mean I really don’t like the fact that Europeans basically are making double what we make. I liked knowing I could buy a small place in costa rica for next to nothing because the dollar was so strong. How bad would a recession have been if the fed didn’t lower rates?
They were forced to lower rates because the markets were so stagnant. A lot of people were losing jobs and businesses were going bankrupt. Yes, this was a terrible move because it lets the markets have one more frenzy over easy cash at the expense of the dollar, but pressure from them to lower the rates was great.
Raising rates, keeping them still, or lowering them would all lead down the same road, which is to the inevitable collapse of the almighty dollar. How bad would the recession have been? Just as bad. Everyone is broke and up to their ears in debt. At least they can hold it off a little while longer.
It was either lower the rates and hold off some major bankruptcies a little while longer or let them all go bankrupt now and let the people panic when they find out their banks are crapping out on them. The system is screwed.
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