This means that over a 23 year period of time that inflation has reduced the value of the dollar.
The value of the dollar is even worse when used overseas and exchanged with the EURO dollar... it takes more dollars to buy a Euro than it did before...
This also hurts travel and tourism because it costs more for tourists to come to the USA than it did before which means we are losing revenues as a country.
To make matters worse, the dollar has less purchasing power in 2023 than it did in 1960... instead of getting stronger, the dollar has gotten weaker.
What contributes to this decline?
- Inflation
- National Debt
- GDP
- Perception of value
BRICS (Brazil, Russia, India, China, South Africa) along with some other countries are pushing the rest of the world TO STOP USING THE US DOLLAR when negotiating trade deals with other countries.
This pressure also weakens the purchasing power of the US dollar.
WHY IS THE REST OF THE WORLD AGAINST THE USA???
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