Re: [PEN-L] A worthless piece of paper

[Paul]

Doug H., responding to me, writes:

Nor have U.S. (non-agric) export
prices fallen

Their dollar prices. But what about their yen or euro prices?

The IMF's real effective exchange rate has the USD down over 25%
since 2002, and 5% for the year ending in September.

Ipso facto, US export prices have risen in yen or euro prices.  That is the
point  (a nice situation if you can get away with it...let's see).

Paul