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People who tune into politics knew J.D.
Those in literary circles knew him as the author of Hillbilly Elegy.
Also see what eliminating income taxes would do for the economy and your wallet.
He also founded and co-chairs an annual energy conference at Yale University.
It slipped a bit in 2023.
The Republican candidate for vice president, Sen.J.D.
Vance, has picked up a prior Trump policy goal of devaluing the dollar,' Hirs said.
Whats To Gain by Devaluing the Dollar?
There are pros and cons to a strongU.S.
But first, what is a strong dollar?
Proponents like Vance believe a weaker dollar could narrow that trade deficit by makingU.S.
exportscheaper and more attractive to foreign buyers.
It would increase the cost of imports, Hirs said.
According to Foreign Policy magazine, thats the whole point for Vance and his camp.
If the dollars value is cut in half vs. other currencies, the cost to theU.S.
consumerof buying goods from overseas will double, Hirs said.
If that were theonly dollar-weakening propositionin play, the potential impact on your wallet might not be so pronounced.
Regarding the potential cons, Hirs thinks gas prices could rise if the dollars value falls.
OPEC+ will, naturally, raise the price of oil to maintain their members purchasing power, he said.
Currency values arent tied only to trade.
They also influence debt, which America has in heaping doses.
With much of this held by our trading partners overseas, the U.S. will be hammering them.
It may be the economic equivalent of a nuclear attack.
Would a devaluation help theU.S.
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