BySteve Forbes,
Forbes Staff.
President Trump said yesterday that a declining dollar is great. No, it isn’t. It means trouble ahead.
You’d never know it from the declining value of the dollar, but the U.S. economy is in pretty good shape, especially when you look at the rest of the world. But this increasingly beautiful economic picture will be fatally damaged if we don’t shore up the sinking dollar. A wobbling greenback means future monetary inflation. And that means political disaster for President Trump and the Republican Party. The very definition of inflation is a decline in the value of a currency.
Devaluing the dollar destroyed the presidencies of Richard Nixon, Jimmy Carter and George W. Bush. Rising prices undermined the Biden presidency.
