To The Moon

On strong USD.. https://www.straitstimes.com/business/economy/the-very-very-strong-us-dollar-is-weighing-down-the-world But American companies with large international operations are taking a hit when they convert foreign sales back into dollars. Profits at both Microsoft and Nike, for example, have recently eroded. Apple generates more than 60 per cent of its sales outside the US; it and other tech giants, which dominate many stock indexes, are likely to suffer from the dollar's strength when they reveal their latest financial results in the coming weeks. Many companies and governments abroad also borrow in US dollars, and the currency's strength is a big problem. This is particularly true for poorer countries attracted to dollar-denominated debt as an alternative to less developed local markets. Likely to be most affected are countries where dollar debt represents a large portion of their gross domestic product. Paying interest to creditors in dollars has become particularly difficult for countries with rapidly depreciating currencies, like Argentina and Turkey, especially as interest rates on any new debt will also go up. For some, including Sri Lanka, it has become seemingly impossible.