Anyway, as a result of the strong dollar, every import that American companies use for their products—be it autos, computers, or mobile phones—is vastly cheaper. When products are finished in the USA, figuring in lower domestic-wage demands and interest rates, cheaper U.S. products will lead to stronger exports because of a sound dollar.

In fact, the King Dollar/plunging-energy-price combination has substantially reduced the cost structure of American businesses, making them more competitive. And at the same time, the buying power of consumers is significantly increased as prices for energy, food, and virtually all goods and services have dropped.

As economic editor John Tamny puts it, “When investors invest, they’re hoping to get back the dollars they invested, plus an additional dollar return.” Tomorrow’s dollar should be worth the same as today. That’s the confidence value of currency stability.

How about some more history?

Between 1982 and 2000, as the dollar skyrocketed 178 percent, King Dollar (with lower tax rates and lighter regulation) presided over a stock market gain of 1,099 percent, a jobs increase near 40 million, and 3.5 percent average annual real GDP.

During the recent dollar decline period, from 2001 to 2011, as the dollar fell 25 percent, jobs increased a paltry 2.3 million, real GDP growth averaged less than 2 percent, and the S&P gained a measly 15 percent.

And don’t forget the dreadful 1970s: The dollar plunged, the economy suffered through years of stagflation, and the real value of stocks fell significantly.

Yes, the world’s currency system is in disarray. Europe and Japan are depreciating (won’t work) and the U.S. is appreciating (nurturing growth). Yes, we need a new monetary system. Yes, we need better currency and policy coordination.

In any event, as the Federal Reserve slows its accommodation, and with pro-growth corporate tax reform is in the air, King Dollar will stay on the rise.

Stop whining, folks. It’s a good thing.

Clarification: An earlier version mentioned the rate of Japan’s yen in the 1970s and 80s. That paragraph has been removed in the latest version.