Working Life

   I have made this point before–I know that it sounds counter-intuitive to say that a strong dollar is NOT a good thing but it isn’t–except maybe for Wal-Mart and American tourists. I certainly have sympathy for tourists, less so for Wal-Mart. I’m reminded of this because of this article in today’s Wall Street Journal: […]

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   For at least three years, I’ve been arguing that one of the problems we have, in the larger economic scheme, is that the value of the dollar is too high. Yup–a high dollar basically helps American tourists traveling abroad (and I am sympathetic to that) and Wal-Mart (because a high dollar means, basically, that […]

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The world currency markets were abuzz on Friday when China’s currency, the renminbi (“the peoples’ money,” also known as the yuan), traded for 20 minutes above the mark it has held for almost a decade. Was it a mistake, quickly corrected, or a little test by the the People’s Bank of China, the central bank, […]

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