Dollar defies forecasts

Pesky dollars.

The US trade deficit has hit an all-time high of $43.1 billion, disproving forecasts that a recent fall in the dollar would help exports. Figures for January show that imports stayed close to historic highs after a rise in imported oil prices. Even the politically sensitive trade deficit with China increased to $11.5bn, up from $9.9bn in December. "To me this is very worrisome. The trade deficit is not improving. It is getting worse despite the dollar depreciation," said Wells Fargo Banks chief economist Sung Won Sohn. In theory, a weakening dollar should have made US exports cheaper and thus more competitive in overseas markets. The idea was that it should make imports more expensive, reducing demand for foreign goods.

  Aljazeera article

I don't know. Maybe it might have worked that way if we actually manufactured anything here any more. And our beef exports went into the toilet with the mad cow revelation. What else do we have? Genetically modified corn. Whole world's clamoring for that, huh?

America's total outstanding debt now stands at over $7,112,000,000,000, which means that every single US citizen has a share of just over $24,000.

I think I'll default on my share.

....but hey, you do what you want....you will anyway.