Originally Posted By: Dogfish
One primary cornerstone of our economy is the housing industry.


The primary cornerstone of our economy is the USD. And there's a currency war going on....

Some CnP insights:

For example, the U.S. dollar peaked at 160 on the Dollar Index back in 1985–the USD Index is comprised from a basket of our 6 largest trading partners. This index has lost 50% of its value since that time and stands at just 79 today. According to the economics of today’s central bankers, this should have engendered a U.S. manufacturing renaissance, a huge trade surplus and a vibrant economy. However, the U.S. economy has been mired in anemic growth for years. The trade deficit has been a chronic problem for decades and was $559 billion last year alone. And manufacturing as a percentage of the economy has dropped from 18% in 1985, to just 12% today.

You just cannot ignore the fact that governments and central banks are engaged in a global currency war. But we already know who the losers are in this battle; they will be the middle classes and the economies of the developed world. There will be no sustained economic growth until they make peace with their currencies and put aside the notion that prosperity can come from inflation.

Source

So how does the USD compare to this?

1792 Coinage Act

Read Section 19 and smell the cognitive dissonance in the morning.....