The Euro was only initiated in 1999, and it suffered right along with the other currencies until that low in 2001-2002. The U.S. was not only bailing out the emerging countries with the stronger dollar, but the Euro as well. Between 1999 and 2002's low, the dollar moved up 25% and the Euro moved down 24%.
In 1990, we slowly started the evolution of bringing the emerging and teetering countries back from the brink of bankrupcy into an evolution of democracy. But it certainly hurt our exports and exploded our imports. Ladies and Gentlemen, that evolution is about to pay off with a huge expanision in our exports.
So today's message is that, as these currencies come into a healthy state, we will see a much stronger consumer. And with that, a much stronger and healthier United States will emerge.
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