cross-posted from : https://lemmy.zip/post/69898212

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3 comments in c/world view that post
[–] 7 points 2 months ago (2 children)

So much for bribing Japan to hold theirs. Good job, republicans, you destroyed the dollar, something everyone thought was impossible at one point.

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  • [–] 2 points 2 months ago (1 child)

    I am not sure how I should interpret your comment, but weakening the USD - if it happens in the long term - isn't a bug in Trump's policy but a feature. Trump's former economic advisor Stephen Miran explicitly formulated that more than a year ago.

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  • [–] 5 points 2 months ago

    Trump literally said he likes a weak dollar. They think all it will do is let them buy up all the property from poor people and take out cheap to free loans. They are sorely mistaken that disrupting the global economy and forcing investment into the dollar and potentially losing it as a global base currency will end up well for all rich people and bad for all poor people.

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  • 2 comments in c/world@lemmy.world view that post
    [–] 7 points 2 months ago

    Gee. All the bullshit makes our country a bad investment?

    Who knew? (Plenty of us did know)

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  • [–] 4 points 2 months ago* (last edited 2 months ago)

    Full context from the article:

    Holdings of U.S. Treasuries slipped to $9.299 trillion in June from $9.371 trillion in the previous month. But compared with a year earlier, Treasuries owned by foreigners were up 2.3%.

    Also relevant context are the various exchange rates to foreign countries... Not going to list all of them but here's to a multi-currency index: https://www.marketwatch.com/investing/index/dxy

    As well remember this is a nominal number.

    Edit to add: the fact that it's going down is not great, but the headline references only monthly which is noisy. Here's also a trend over time from FRED (quarterly): https://fred.stlouisfed.org/series/FDHBFIN

    TLDR: this might just be a blip, not really any bigger news than the stock market being slightly down any given month. As much as I dislike the current administration don't add this to your doom scrolling just yet.

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