Econo-Girl first started this blog as a response to CNN Money's horrible financial and economic coverage. Honestly, what passes for business reporting in the U.S. is just embarrassing.
No announcement is made without a positive candy-cane spin to it. For example, the news that the dollar is going down is couched with the "but that means exports will go up." Of course exports will go up. They won't go up enough to cover the amount we import, however. That would take sacrifice and discipline, and we all know how far that would go.
The real upswing about a lower dollar value is that it will kick up inflation here at home. Since we import a lot of stuff, and the exchange rate puts the dollar as buying less, less can be bought with the dollar. So the price to get a foreign good will go up.
There are some that gamely point out that now Americans will buy more domestically-made products. Sure. They will. But nowhere in the U.S. are clothes made as cheap as Asia, even with the lower dollar value making the prices rise.
So the practical upswing is: run to Walmart now to buy clothing, before the prices inevitably rise.