Gee, Ben Bernanke does everything possible to devalue the dollar, including QE2 (which, as everyone knows, now stands for Quantitative Easing 2, not the ship once known for fast passage across the Atlantic), and what happens? European financial crises resurface, that’s what. We not only have QE2; we have PIIGS, reborn. If we have to fit more countries in there, the acronym could be dangerous.
For example, if we added Turkey and Yemen to Portugal, Ireland, Italy, Greece and Spain, we could have PIIGSTY. (Sorry, Turkey and Yemen. Your finances may be fine, and it’s nothing personal. I simply couldn’t resist.)
The dollar devaluation would be good, in that it would make our exports more attractive. It’s kind of the manufacturing version of the old chaos theory thesis — instead of a butterfly flapping its wings in Brazil and causing a tornado in Texas, a dollar being devalued in the United States sells a Buick in China.
Things seem to have sold well over the all-important Thanksgiving weekend. Retail sales, according to Bloomberg reports, were up, and Internet sales increased substantially.
I wrote about the expansion of Internet sales in this column some years back. I guess it would be heaven for manufacturers if we all sat at home and ordered things through Amazon. Then, there wouldn’t need to be retail stores and malls.
However, it’s hard to beat the tactile experience of retail, isn’t it? Sometimes, one has got to see, touch and experience the merchandise before buying, right? It’s the same argument I have with e-readers. Readers of this online and nontactile blog know I am still wrestling with reading books on the devices. So far, I miss the touch and feel of paper and ink.
Have a wonderful week and try to find a way to help someone you don’t know.
Check out more blog entries from Richard Hoe.