The average American does not have a diversified portfolio of currencies and precious metals. When the dollar is devalued, their life savings are devalued. With increasing costs in any number of sectors, it means the average working American gets the short end of the stick.
It doesn't work that way.
Sure, in the past four years the dollar has lost 17% of it's value in terms of other major currencies. Big deal. During that same time American private wealth has increased by 41%. This not only makes up for the drop, but leaves us 24% ahead.
There's more. Americans spend 90% of their money in the US, so that 17% drop only applies to a tenth of our spending, so most of the time foreign exchange simply doesn't matter.
When it does matter, it helps more than it hurts. The falling dollar makes us rich because the stuff we're selling ends up being cheaper to foreign buyers.
Well, exactly.
Your average UK exporter isnt doing too well either!