Saturday, July 12, 2008

Demand Destruction Stops at the Border

Peter Schiff
Jul 11, 2008

When the dollar was king, demand here was strong. American consumers, armed with the mighty greenback, flexed their muscle and priced foreign consumers out of the market. Now that the dollar is a 98 pound weakling, foreign consumers are returning the favor, and are kicking sand in our faces. So as more goods and resources are consumed abroad, Americans will be forced to consume less. Demand creation abroad leads to demand destruction at home.

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