The Dollar Is Strong. Sound Good? It Isn’t. ...Middle East

The current rise of the dollar against foreign currencies has me remembering a 1987 photo op in which sledgehammer-wielding Republican House members—the Capitol dome looming behind them—smashed a large battery-operated Toshiba radio/cassette player. The proximate cause for the protest was Toshiba’s sale of high-tech equipment to the Soviet Union. But that was just a pretext. The legislators’ real complaint was against a ballooning trade deficit with Japan, worsened by a too strong dollar.The next time the dollar peaked was in 2002. It didn’t rise as high as in the mid-1980s, so less fuss was made about the damage that did to United States exports, but there was some fuss. Now the dollar is p

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