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Markets better under Biden than Trump


Brock Landers
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Trump intends to devalue the US currency to increase exports

According to Politico, advisers to the Republican candidate, if he wins the election, intend to devalue the US currency in order to increase exports. It is assumed that the mechanism will be similar to the Plaza Agreement concluded in 1985 , which significantly reduced the competitiveness of Japanese industry as opposed to American industry. 

This idea was proposed by the luminary of American trade policy  Robert Emmett Lighthizer, who worked with Reagan. He is a representative (lobbyist) of the so-called American “rust belt”.

He advocates and pushes for strict protectionist measures. So, at his instigation, a number of laws were indeed passed restricting imports from China and Japan. 

It would seem that it was now possible to once again push through laws to increase import duties, etc., but, apparently, the situation has completely worsened and really tough measures are needed. 

It is already becoming clear that sober and arrogant industrialists appeared in the United States, who began to firmly defend the revival of the classical manufacturing economy in the United States. The first and easiest way to reduce the debt burden while reducing the ability to increase public debt is, of course, to trade in what is not necessary to produce and lies simply underfoot: oil, gas. 

But in order to move further along the export path, real competitive advantages are needed. And here industrialists are really ready to take radical measures.

Devaluation of the dollar is a tough measure and apparently society is being prepared to take tough measures. 
 

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3 minutes ago, vitalyo said:

Around $22 CAD so with exchange rate it's about same price. 

Minimum wages have been revised in Vermont, United States of America, with effect from 01 January 2024. The minimum wages have increased: For all except tipped workers, from $13.18 to $13.67 per hour; and. For tipped workers, from $6.59 to $6.84 per hour.Jan 1, 2024

 

TORONTO — The Ontario government is increasing the minimum wage from $16.55 per hour to $17.20, effective October 1, 2024. This 3.9 per cent annualized wage increase is based on the Ontario Consumer Price Index (CPI) and brings Ontario's minimum wage to the second highest in Canada.Mar 28, 2024

 

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