Indeed, while their earnings may increase in nominal dollar terms, the very devaluation that Johnson seeks will properly cause investors to dismiss the increase as entirely illusory.
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U.S. corporate profits (which are expressed in nominal terms) have tended to rise and fall at about twice the rate of world nominal dollar GDP, suggesting double-digit profit growth again in 2006.
Not only does the sagging, unstable dollar create the nominal illusion of bank health, that the dollar remains historically weak means that limited capital necessary to fund company and job creation is still locked up in the houses on which dead-banks walking teeter.
Between 2005 and 2008, the yuan appreciated by 20% against the dollar in nominal terms.
Considered from an investment standpoint, commodities such as oil and gold continue to rise in nominal terms while the dollar falls, but sticky consumer prices remain relatively stable.
Mr Gerashchenko's main success was to keep the rouble stable against the dollar, in nominal terms (see chart).
In a nominal sense you have a twenty dollar profit, but in a real sense, you have suffered a loss.
Since 2005, when China started de-pegging gradually from the dollar, the yuan has appreciated around 25% in nominal terms and about 50% in real terms relative to the dollar, according to a report by The Economist.
That means that, even with China allowing only a modest nominal appreciation of the yuan against the dollar, American firms are looking a lot more competitive than they were a few years ago.
For Canada, Texas, Iowa and North Dakota, the common denominator they all share is that the economy in each is relatively focused on commodities, and with commodities near nominal all-time highs thanks to a weak dollar, job-creating investment has followed.
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QE3 would pummel the dollar propelling stock and commodity prices up in nominal terms.
If you adjust nominal interest rates by using these measures, or even the dollar itself, which has lost 11% since June, rates are already profoundly negative.
The renminbi has appreciated by 9.3 percent in nominal terms and 12.6 percent in real terms against the dollar since June 2010.
But, as the 1970s and early 1980s agonizingly demonstrated, increasing the nominal cost of money does not necessarily undo the debauching of the dollar.
During this dreary ten year stretch stocks have essentially gone nowhere in nominal terms and, adjusting for inflation, are actually down big in real dollar terms.
The answers to those questions can be found by examining whether the rise in nominal rates is also accompanied by rising real interest rates and if the rise in the dollar is due to a decrease in its supply.
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