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Monday, April 12, 2010

Wal-mart Also a "Currency Manipulator"?

Dr. Mark Perry satirically offers his take on Wal-Mart's announcement that they will be cutting prices on over 10,000 items:
MP: In other words, Wal-Mart is engaging in a new round of currency manipulation by cutting its retail prices, which makes the U.S. dollar artificially overvalued in relation to Wal-Mart's goods. This attempt to manipulate the currency and lure customers into buying more of its products with an overvalued dollar will create job losses at Target and other retailers, and should be investigated by the government. If found guilty, Wal-Mart should be forced to stop manipulating the U.S. dollar, and should be pressured to raise its prices back to the pre-price cutting campaign levels.

I must emphasize that his post was satirical in case anyone from the Congress is reading.

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