"But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988"
- Martin Feldstein
About this Quote
This quote by Martin Feldstein is referring to the sharp decline of the US dollar in the mid-1980s. In April 1985, the dollar began to drop in worth, and within 12 months had actually fallen by 23 percent. By the beginning of 1988, the dollar had actually stopped by a total of 37 percent. This decline in the worth of the dollar had a considerable effect on the United States economy, as it made imports more costly and exports cheaper. This caused a decrease in the need for United States items and services, and a boost in the need for foreign goods and services. This, in turn, caused a reduction in financial development and a boost in unemployment. The decrease of the dollar also had a negative impact on the US stock market, as financiers were less willing to buy United States stocks due to the reduced value of the dollar.
This quote is written / told by Martin Feldstein somewhere between November 25, 1939 and today. He/she was a famous Economist from USA.
The author also have 28 other quotes.
"Only as long as a company can produce a desired, worthwhile, and needed product or service, and can command the public, will it receive the public dollar and succeed"
"I went to school at this log school house. A white woman was my teacher, I do not remember her name. My father had to pay her one dollar a month for me. Us kids that went to school did not have desks, we used slates and set on the hued down logs for seats"
"My price is five dollars for a miniature on ivory, and I have engaged three or four at that price. My price for profiles is one dollar, and everybody is willing to engage me at that price"
"The major material advantage, financial advantage from having a reserve currency is that between 200 and 300 billion dollar bills, that may be twenty, fifty, hundred dollar bills as well as ones, exist in the world - a lot of them in Russia as you all know I'm sure"
"I really wish there was some big brother conspiracy theory. I just think it's the ignorance of trying to make a dollar. That's what the networks have done and will continue to do. If anyone doesn't think that this is about making money, then they're crazy"
