I don't see how it's going to help with the job situation too much because Chinese labor is still much cheaper. We'll have higher prices for things we must import like oil.
Maybe Mexico will come along and bail out the dollar like we always bail out the peso when we think it's fallen --- we believe that currency must keep it's value but the dollar can fall.
Yes, it has increased the price of oil for us. That's about the only downside, though. It's jumpstarted the economy and it's even caused a dramatic upturn in the amount of drilling we are doing domestically.
If we want to strengthen the dollar, we'll just start moving interest rates back up. They're still ridiculously low. However, my 3.75% fixed mortgage interest rate is going to look even better when that happens.
George Soros eve of destruction alert! Just sit back and enjoy this one. The Federal Government brought a lot of really smart folks in for the financial part of the GWOT. This would just be a side show for them.
By the way, The Chinese export currency, the Yuan, is pegged to the Dollar! These folks are not dumb!