Ok, Professor why don't you define for us "invest in America". Let me help you; will it be manufacturing? hmmm I think we outsourced that a long time ago
It will make sense that the weakness of the dollar is to our benefit if we had a manufacturing base...Do you understand this econ 101 stuff?
Do you? There's more to our GDP than manufacturing. Just because you think we outsourced all our manfucturing doesn't mean that it's really true. From Sept 2006 to Sept 2007, US exports were up 13.6% and imports were up 4.9% (from the US Bureau of Economic Analysis) - we increased foods/feed/beverages, industrial supplies/materials, automotive vehicles/parts, and general consumer goods. Take your doom and gloom somewhere else. Not to mention, "investing in America" not only implies industrial growth/investment, but also real estate investment.
Your post seems a bit contradictory. If a "devalued dollar is a good thing", then "foreign investment will eventually make the slide reverse itself" is a bad thing, as is the reversal of said slide. You actually seem to be suggesting that a strong dollar and a weak dollar are both a good thing. That being the case, the world market is essentially irrelevant.
I'm suggesting that a "healthy balance" is what's best economically - always has been. A neverending slide obviously isn't a good thing, just like an exceptionally strong Euro isn't good for Europe because investors eventually go away - it becomes too expensive. The market corrects itself, it always does - that's why capitalism works. Eventually, the dollar will stop its slide and regain its strength. In the process, you'll see the Euro slowing down from its pinnacle and coming back down.
During this time, however, I get to hear from those who think America is crap because we outsourced everything, our dollar sucks, and no body loves us. Well, I don't think America is in the shitter - our economy is booming, unemployment is very low, GDP is rising, and our standard of living is the highest in the world. I happen to like this country, and although a dose of criticism doesn't bother me, the loud, uninformed parrots do.