Seemingly, there is now consensus among foreign exchange dealers that the greenback is likely to depreciate meaningfully over the next few years. This, however, is based on the utterly paradoxical policy that reducing the trade deficits with tariffs on the one hand, while embracing government budget deficits with tax cuts on the other, will bring home factories that were lost mainly because of automation…
A Macro Market View by Hubert Marleau
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