The price of food staplesin nominaldollartermshasmore than doubledsince 2005 although the impact is smallerwhen adjusted for domesticinflationandexchange rates.
Indeed, while their earnings may increase in nominaldollar terms, the very devaluation that Johnson seeks will properly cause investors to dismiss the increase as entirely illusory.
U.S. corporate profits (which are expressed in nominal terms) have tended to rise and fall at about twice the rate of world nominaldollar 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.