MoneyClimb.JPGThe falling dollar is the best thing that could have happened to the U.S. economy, given today’s difficult circumstances, former U.S. Treasury Secretary John Snow insisted in a speech last week in Manhattan before the insurance industry’s best and brightest at a gala dinner hosted by Lloyd’s. While I appreciated his point, I begged to differ.

While acknowledging that the economy is sputtering, “we’d have a real crisis if the dollar was not trading as [low] as it is now,” he told the gathering. “The American economy is resting on the dollar. Exports, fueled by a cheap dollar, are the only thing keeping the economy going.”

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