Oil is not inflated. American goods that involve oil might be inflated because of it, but oil actually is not.
Gold too, if you revalue it using Canadian or Euros, appears to have barely gone up in value.
Our country has so far avoided the two major problems of a weak currency, inflation and high cost of borrowing. If the benefits of a weak dollar materialize, we will not see those in a damaging fashion.
Oil is not inflated. American goods that involve oil might be inflated because of it, but oil actually is not.
Almost all American goods involve oil. It’s how the veggies and milk get to the supermarket as well as a key ingredient in everything plastic.
Now that’s plain wrong. You could sell oil for 20 bucks a barrel and well cover all costs and a sensible margin.