US Dollar Woes (memories of a great USD/AUD life)

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  • Evil-Dan
    Confirmed User
    • Mar 2006
    • 464
    #1

    US Dollar Woes (memories of a great USD/AUD life)

    It struck me yesterday as I was filling up my car with gas here in the States that the USD is really fucked

    It took $60 USD to fill my car which is pretty much the norm now

    And then I remembered that back only a few years ago I used to get $2 AUD for ever $1 USD

    So that tank of Gas was the equivalent of $120 AUD from only a few years ago

    $60USD now gets me $65.19AUD

    $60USD now gets me 38Euro

    $60USD now gets me 2501 PHP (Philippines)

    I mean the USD has even dropped against the fucking Philippines

    Where is the bottom of this shitfull trend I wonder
    Evil Is As Evil Does
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    • digifan
      The Profiler
      • Oct 2002
      • 14618
      #2
      No idea but it is painful indeed.
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        • who
          So Fucking Banned
          • Aug 2003
          • 19593
          #3
          It'll get much much worse before it gets better.

            Comment

            • LauraLee
              Confirmed User
              • Sep 2003
              • 3821
              #4
              It's truly astonishing

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                • TheMaster
                  Confirmed User
                  • Nov 2003
                  • 2734
                  #5
                  I think most Americans don't realize the extent of this, they might if the overal price level of imports will start rising, all of a sudden Wallmart will become more expensive.

                  The US dollar is down against basically every currency in the fucking world

                    Comment

                    • dodger21
                      Confirmed User
                      • Jan 2003
                      • 2680
                      #6
                      only way this will be fixed is to RAISE interest rates, not cut them.
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                        • Anthony
                          Keyboard Warrior
                          • Feb 2001
                          • 9653
                          #7
                          Originally posted by TheMaster
                          I think most Americans don't realize the extent of this, they might if the overal price level of imports will start rising, all of a sudden Wallmart will become more expensive.

                          The US dollar is down against basically every currency in the fucking world
                          What the majority of people who keep bringing up what American's don't realize is that if we go down, everyone goes down.

                          Here is a graphic posted by a friend detailing how the Japanese market was affected after the Fed cut interest rates.



                          You don't think the WORLD's LARGEST Economy failing is going to affect the rest of the world? Everyone is in for rude awakening, not just Americans.

                            Comment

                            • Barefootsies
                              Choice is an Illusion
                              • Feb 2005
                              • 42635
                              #8
                              Originally posted by who
                              It'll get much much worse before it gets better.
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                                • who
                                  So Fucking Banned
                                  • Aug 2003
                                  • 19593
                                  #9
                                  Originally posted by Anthony
                                  What the majority of people who keep bringing up what American's don't realize is that if we go down, everyone goes down.

                                  Here is a graphic posted by a friend detailing how the Japanese market was affected after the Fed cut interest rates.



                                  You don't think the WORLD's LARGEST Economy failing is going to affect the rest of the world? Everyone is in for rude awakening, not just Americans.
                                  Yes, this is true, but the rest of the world will be much more able to recover than the US itself, unless all this military wealth is spent taking over china or something

                                    Comment

                                    • Bossman
                                      Confirmed User
                                      • Jun 2006
                                      • 1263
                                      #10
                                      Originally posted by Anthony
                                      You don't think the WORLD's LARGEST Economy failing is going to affect the rest of the world? Everyone is in for rude awakening, not just Americans.
                                      True, however after the dust settle - the US will still have debt, while the rest of the world "just" need to find new outlets for their products, which will probably be done via increasing home/regional markets.

                                      The US needs to do a correction to the rest of the world, rise taxes or lower goverment costs, so the debt increasing will stop. The longer the wait - the harder it will be when the bottom falls out of the USD.

                                      And yes, I love the US, and we fucking need you guys to stay afloat both political and economical, so we europeans are not left with the socialists and religious nuts in the world.
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                                        • ADL Colin
                                          Too lazy to set a custom title
                                          • Feb 2001
                                          • 11929
                                          #11
                                          Originally posted by Bossman
                                          True, however after the dust settle - the US will still have debt, while the rest of the world "just" need to find new outlets for their products, which will probably be done via increasing home/regional markets.
                                          I am pretty sure that Italy and Japan have more debt relative to their GDP than the US. Also if I remember correctly the US debt to GDP ratio is about average for the G7 countries. been a few years since I looked it up.


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                                            • Bossman
                                              Confirmed User
                                              • Jun 2006
                                              • 1263
                                              #12
                                              Originally posted by who
                                              Yes, this is true, but the rest of the world will be much more able to recover than the US itself, unless all this military wealth is spent taking over china or something
                                              Actual I could foresee social revolt in China, if the US suddenly was not able to import their products. 10s of millions unemployed people in the large cities could probably create a quick revolution, which is why the chinese government have been partly financing the US debt... the same goes for the middle east countries and their oil
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                                                • TheMaster
                                                  Confirmed User
                                                  • Nov 2003
                                                  • 2734
                                                  #13
                                                  Originally posted by ADL Colin
                                                  I am pretty sure that Italy and Japan have more debt relative to their GDP than the US. Also if I remember correctly the US debt to GDP ratio is about average for the G7 countries. been a few years since I looked it up.
                                                  difference is that Italian and Japanese people don't have so much personal debt as the American people + they have strong social structures (health care, ...) which prevent people from falling into poverty, it's those same structures that enable Europe to only need 2% growth a year instead of the US's 5% to be healthy

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                                                    • SuzzyQ
                                                      Confirmed User
                                                      • Dec 2006
                                                      • 1557
                                                      #14
                                                      Originally posted by who
                                                      It'll get much much worse before it gets better.
                                                      Might as well get use to it. Its not going to get better. Big Oil wants $5.00 a gallon and they will get it sooner than we think.

                                                        Comment

                                                        • IllTestYourGirls
                                                          Ah My Balls
                                                          • Feb 2007
                                                          • 14311
                                                          #15
                                                          two major factors have hidden the dollar woes from the avg US citizen. Illegal immigration and chinese/cheap imports. I feel bad for the rest of the world

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