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The Return Of King Dollar

If you haven’t noticed, the value of the dollar is soaring against almost every competing currency – including the yen, the euro, the franc, and the pound. We view this as a mostly positive development. The strengthening of the dollar lowers the price of imports and should help bring down inflation over time.

Why is it happening? Arthur Laffer explains that the  U.S. is the “tallest midget right now,” meaning that Europe, Japan, and Britain are in worse shape than we are. Also, Fed tightening – and its signaling more tightening – means a stronger dollar.

Another factor, alas, is the whole world is ruled by a confederacy of dunces, who are peddling anti-free market/income redistribution/green policies. These are all wealth-destruction machines. This is causing global capital flows to high-tail it toward a safe haven – and that’s still the dollar.

Dollar Reigns Supreme

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