Every financial recovery since World War II was driven by currency depreciation

[eridani]

http://www.truth-out.org/dont-buy-currency-devaluation-its-been-done-before65710

Hard-money types tend to take a sort of "Lives of the Saints" approach to history.

They reverently reference certain iconic examples of hyperinflation (Weimar Germany! Zimbabwe!), while remaining utterly ignorant of all examples to the contrary.

<snip>

My question is this: Why go back to the 1930s for examples?
— How about Britain, which saw a strong recovery from its economic doldrums after it devalued the pound against the mark in 1992?
— And Sweden, which recovered from its deep banking crisis in the early 1990s with an export boom, driven by a devalued kronor?
— And South Korea, which roared back from its 1997-1998 economic troubles with a strong export boom, driven by a depreciated won?
— What about Argentina, which also roared back from its 2002 crisis with an export boom, driven by a depreciated peso?
And the list continues.

The truth is that every financial recovery since World War II that I know of was driven by currency depreciation.

[whyverne]

1. And what about Reagan and the Japanese?

I know I remember Reagan borrowing a ton of money from Japan to cover his tax cuts and then devaluing the dollar and the Japanese were not happy. Does anyone else remember that? I've been googling it without success.

[pscot]

2. Nixon devalued as well

This is another one of those things that's only bad when Democrats do it.