The world has become so interconnected that it's basically impossible to initiate an action, such as devaluing one's currency, without severe implications elsewhere. It might be high time the Fed realized such - assuming they don't know already.
With globalization, might it be time for jobs to be either exported or imported? I know, in the short-term it might create nightmare scenarios for Immigration and law enforcement, but it might be reflective of such international trends. Local economies might even benefit from other cultures and people's ideas.
While all such interventions as keeping interest rates low are going on, American companies, forced by their global uncompetitiveness, are being forced to export jobs abroad to lower production overheads.
It seems the US administration under the Obama administration is more conciliatory than previous regimes. Why not target strategic partnerships abroad, with win-win economic interests being the aim, in order to get more markets abroad and create jobs both in the US and in such partner countries?
Ceasar Augustus established the Pax Romana (historian Edward Gibbons' term), spanning 27 BC to 180 AD, where relative peace replaced military expansion and full time war. It might be time for such an approach, involving more consultancy. After all, the failure of military solutions (Vietnam, Gulf War, Afghanistan-Iraq-Pakistan), has antagonized former allies. A different approach is called for when it comes to economic matters such as trade.
Read the Article at HuffingtonPost
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