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theking

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#1

Why is it that it is only foreigners that

11-26-2004, 04:32 AM

are crying about a weakened dollar? Are there any Americans here that are personally suffering from a weakened dollar? All of my stock market investments are going up every month. I have two different money market funds and as of the last statments they have not been effected by a weakened dollar.

The US economy is growing and has been growing during the last four years. Unemployment levels are normal. Outside of an increase in the cap on the National Debt...every economic sign seems to be within normal ranges...but even the debt cap has been repeatedly raised in my lifetime...so I do not see cause for alarm.

Is there any reason I personally need to become concerned about a weakened dollar?

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who

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#2

11-26-2004, 04:34 AM

No, you don't have to worry as much as foreign pig dogs. They have to convert to their own currency, which in most cases now means they're getting up to 40% less than they were when they converted it 4 years ago.
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Libertine

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#3

11-26-2004, 04:37 AM

You don't need to worry... unless ofcourse you don't like the prospect of very severe inflation, which is almost inevitable if the dollar stays this low or continues to drop.

Ofcourse, there are some people with a somewhat more grim outlook on things... http://business.bostonherald.com/bus...rticleid=55356

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#4

11-26-2004, 04:40 AM

Inflation and higher interest rates

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#5

11-26-2004, 04:43 AM

Originally posted by BRISK
Inflation and higher interest rates

yep, it's inevitable. and certainly anyone who's interested in travel outside the US, will have a much tougher time of it.

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#6

11-26-2004, 04:43 AM

IMO Americans should be much more concerned about a continuing falling dollar than foreigners.

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StuartD

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#7

11-26-2004, 04:43 AM

How many sponsors do you know that pay out in Canadian or Euros?

If they pay out in US, then yes... people outside the US tend to worry about the fact that we're getting less because the US dollar sucks ass.

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#8

11-26-2004, 04:45 AM

As a foreigner living in the US, it's even better for me, especially as I'm currently in the process of selling property in England - should mean an extra $25,000 compared to what I'd get if I was selling this time last year
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#9

11-26-2004, 04:46 AM

Originally posted by BRISK
IMO Americans should be much more concerned about a continuing falling dollar than foreigners.

Eventually, yes.

I think that part of the strategy behind this, though, is to damage foreign industries heavily enough to make up for the eventual damage the low dollar will do to the US.

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#10

11-26-2004, 04:52 AM

U.S. consumers, who are in debt up to their eyeballs, will get pounded.

I've been reading for years about how much record amounts of debt the average American has these days. Even with interest rates as low as they are now, people are in debt at precarious levels, imagine if interest rates start rising?

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Libertine

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#11

11-26-2004, 04:55 AM

Originally posted by BRISK
I've been reading for years about how much record amounts of debt the average American has these days. Even with interest rates as low as they are now, people are in debt at precarious levels, imagine if interest rates start rising?

On the bright side, inflation might make up for that by reducing the actual value of the debts. If only wages would rise as quickly as inflation could rise in the near future, all would be well

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#12

11-26-2004, 04:59 AM

I've watched the $ go from $1.43:£1 to last night $1.90. With avs sales in general dropping dramatically over the last 18 months, it has hit quite a few webmasters over here who relied on their avs business. There were some very rich webmasters who got in at the start back in 1997, and were making a fortune. A couple of these guys have given up the biz due to the general drop.

I for one have seen my avs income, from 3 of them, drop from $2000+ a month to not even $300... Thank god I have pay sites, where I've seen a 100% increase in sales over the same period and I get to keep !00% of the sales most of the time against a % from the avs. A simple reason why we outside the US moan is this:

Early last year $1000 = £699 at $1.43
Today at $1.90: $1000 = £526

Is that a good enough reason for us to moan ?

In the US $1 is $1 but in the rest of the world it isn't any more . I've told US friends who are coming over here that if they smoke to make sure they bring enough with them as they cost almost $9 a pack in the UK !! The current exchange rate is great for those of us visiting the States but you'll soon find the cost of goods imported to the States rising dramatically and then you to will be affected.

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#13

11-26-2004, 05:06 AM

I love the weak dollar however , peeps in the us should WORRY !

the US is strong due to many overseas investments, american companies that invest many overseas ,

with the low dollar it is much harder for a company to take over foreign markets
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#14

11-26-2004, 05:07 AM

Originally posted by Fake Nick
with the low dollar it is much harder for a company to take over foreign markets

Or much easier, depending on where you are.

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#15

11-26-2004, 05:09 AM

Originally posted by Fake Nick
with the low dollar it is much harder for a company to take over foreign markets

and much easier for foreigners to buy up US companies

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#16

11-26-2004, 05:10 AM

You play at the stockmarket and you dont know? Better take your investments somewhere else then. IMHO.

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#17

11-26-2004, 05:21 AM

yeah it was great back in the day when the australian dollar was earning low 50cents.. to the US dollar

$1000US was just about doubling when converted to Aussie dollars, was a wonderful time

Its now sitting at around 76cents, hope it doesnt keep going up. Only good factor is its good to buy products from the US now, and travel there

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#18

11-26-2004, 05:23 AM

Originally posted by ozmatt

Only good factor is its good to buy products from the US now, and travel there

wonder if this is what they wanted you think

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theking

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#19

11-26-2004, 05:27 AM

Originally posted by grumpy
You play at the stockmarket and you dont know? Better take your investments somewhere else then. IMHO.

I don't play...I invest...and do not have anything on margin. My investeents for the most part are "safe" investments...with only a couple of "higher" risk investments. I have only lost money for a one month period and it was of little consequence ($8,000) in all of the years I have been invested.

I am a single retired person. My needs and desires are rather simple. I own everything and pay cash when I buy. I do not take out any dividends from my investments as I do not need to. Higher interests rates or inflation will affect me only indirectly but will not cause me any financial pain.

I suppose those that live on the edge will be affected by higher interest rates and inflation...but I do not have a lot of sympathy for those that live on the edge...they "made their bed...so".

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#20

11-26-2004, 05:37 AM

Originally posted by jimmyf
wonder if this is what they wanted you think

I am not sure...

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#21

11-26-2004, 05:42 AM

the world revolves around the all mighty dollar.

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#22

11-26-2004, 05:47 AM

Originally posted by ajpiii
the world revolves around the all mighty dollar.

Well, until recently it did, but the Euro is quickly becoming the new standard. But that shouldn't be a surprise since the EU is the world's largest economy.

Last edited by BRISK; 11-26-2004, 05:48 AM.

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#23

11-26-2004, 05:56 AM

http://story.news.yahoo.com/news?tmp...rade_sanctions

Ouch! Spanked by the WTO

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#24

11-26-2004, 06:08 AM

Originally posted by BRISK
http://story.news.yahoo.com/news?tmp...rade_sanctions

Ouch! Spanked by the WTO

What did you expect?

The US has a shameful history of NOT participating in the spirit of FREE TRADE.

It seems to be a one-way street all the way.

If a nation does not want to accept US economic bullying or political policies, they face (unofficial) financial punitive punishments (visa vi illegal tariffs, protracted industry killing border closures) which the 'international democracy' has repeatedly deemed wrong.

It seems that trade mechanisms like NAFTA are just more terms to use in news sound bites and do not really express any forward movement in fair international trade.

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directfiesta

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#25

11-26-2004, 06:12 AM

Outsourcing will cost more ....

Walmart will pay more for goods

and so on. ....

" Why is it only the Americans that think their economy is great " .

I know that Asspimple is stoopid ... As he says, it is a FACT !

But I can't figure out how he can breathe or type , at the same time ....
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#26

11-26-2004, 06:31 AM

USA = FUCKED.

end of thread.
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#27

11-26-2004, 06:34 AM

Return Of The Yen

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#28

11-26-2004, 06:37 AM

Originally posted by BRISK
IMO Americans should be much more concerned about a continuing falling dollar than foreigners.

right on the money. If this continues the costs will be biiig!

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#29

11-26-2004, 06:42 AM

An interesting article:

http://www.businessweek.com/magazine...9/b3911401.htm

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lawked

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#30

11-26-2004, 06:44 AM

The USD will effect the economy in like 6-12 months.

Just think of the imports from Canada alone... You're losing 40% off the top.

With the trade deficit growing, and products now costing more to import... how is it that good for the US?

***

Then you have to think of the market, foreign countries invest in the markets but with the US dollar getting slammed, who's going to drop their money in the US and have percentages shaved off their returns almost daily.

US is totally fucked... Guess the red states like exporting Trailer parks

It's just the rich/middle+lower divide spreading... Just gotta worry that if you have money now, that your next door neighbour can have an AK47 and come take what he thinks is his.
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#31

11-26-2004, 06:46 AM

Originally posted by directfiesta

" Why is it only the Americans that think their economy is great " .

so true !
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#32

11-26-2004, 06:48 AM

The US economy is growing and has been growing during the last four years

I don't know what country do you live in, but you not reading the papers.
If the dollars keep going like this, we will have to increase interest rate. That will stop the economy again and might hurt Real Estate.
It will be more expensive to borrow money and the only way to bring money and investors back is with higher interest rate.
Right now investors are going some other places than the USA and that hurts us all.
It is true though that when Real Estate is slow we have to look for other investments and that may well be the stock market and that's why you may think you doing great. But all it takes is one black Monday and you out of money...so I hope you lucky enough. As my old teacher once told me the difference between a gambler and a stock market investor is that a gambler know he is gambling, the gambler in the market thinks he is an investor.
Good luck
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#33

11-26-2004, 06:58 AM

Americans need to save much more so they aren't relying on foreign lending to fund the federal government and to satisfy their huge craving for imports. In the fiscal year just ended, the U.S. government ran up a $413 billion budget shortfall. The current account, the broadest measure of trade and investment and capital flows, is headed for a $620 billion deficit this year. That means foreigners are essentially lending America nearly $1.7 billion a day to support its lifestyle. Much of that shortfall is being covered by the governments of China, Japan, and other Asian countries in the form of purchases of U.S. Treasuries. Naturally it's increasingly difficult for Washington to bargain on tough trade issues when it is also going begging to its trading partners for one more loan.

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dcortez

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#34

11-26-2004, 07:08 AM

Originally posted by directfiesta
Outsourcing will cost more ....

Walmart will pay more for goods

and so on. ....

Actually, it could be a lot worse than that.

Until now, North America has tolerated the 'patience' extended to China's ongoing human rights and freedom of speech violations, but recent media stories suggest that things are getting worse than better.

Consumers are finding it harder to believe that cutting China some slack and developing a trade relationship with them (more like addiction to them) will allow for a gradual improvement in their social development.

I remember the first time a friend of mine grabbed my arm in 1996, strongly suggesting I put that 'made in China' product down in the store. I did not understand then, but you don't have to look far to realize that the North American way of life DEPENDS on the huge differential between our world and that of those who provide for us.

You try making some of the products you can pick off the shelf in any big box store. And the compare your cost to what you can buy it for - it's not even close.

If China continues on a trend of suppressing freedom of speech, censoring media and internet access, violating other human and civil rights, the critical mass of consciencious consumers might be reached and, regardless of currency values, willingness to buy goods from the currently largest source for our lifestyle may be serious squelched.

And the potential fallout from this is unimaginable.

-Dino
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project_naughty

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#35

11-26-2004, 07:18 AM

I think it's a deliberate policy to force down debt.

And just think, why buy from China when you can get better quality goods from the US at an increasingly low price.

But then again, I know very little about economics, so there we are.
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#36

11-26-2004, 07:23 AM

Originally posted by project_naughty
And just think, why buy from China when you can get better quality goods from the US at an increasingly low price.

The yuan is pegged to the usd so the price isn't increasingly low (relatively speaking, ofcourse), and the quality of most goods isn't much apart.

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#37

11-26-2004, 07:25 AM

Originally posted by punkworld
The yuan is pegged to the usd so the price isn't increasingly low (relatively speaking, ofcourse), and the quality of most goods isn't much apart.

Yes, but isn't this going to force them to "unpeg", just like the US wanted?
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dcortez

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#38

11-26-2004, 07:30 AM

Originally posted by project_naughty
And just think, why buy from China when you can get better quality goods from the US at an increasingly low price.

This is one of the many problems with globalization.

Only a very small number of huge players truly benefit.

The trade relationships which determine our shopping cart trails are crafted with tons of PR spin (which many of us have accepted or are not wealthy enough to contest) and are fortified with political corporate agendas that are absolutely untouchable by the 'democratic process'.

-Dino
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#39

11-26-2004, 07:38 AM

Originally posted by dcortez
If China continues on a trend of suppressing freedom of speech, censoring media and internet access, violating other human and civil rights, the critical mass of consciencious consumers might be reached and, regardless of currency values, willingness to buy goods from the currently largest source for our lifestyle may be serious squelched.

And the potential fallout from this is unimaginable.

-Dino

I doubt this will ever happen

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#40

11-26-2004, 07:43 AM

BUY GOLD
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#41

11-26-2004, 07:52 AM

There are some really dumb americans in this thread...

Maybe you should just read the papers a bit more and learn basic economics before asking dumb questions...

Fucking rednecks...

I'm just a newbie.
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#42

11-26-2004, 08:13 AM

I'm from East Europe and allready experimented heavy hiperinflation wich can eat all your wellfare unless you not move very quick to follow markets and preserve the value of your money . I don't think this will be the case of US economy ...but anyway ordinary ppls which do not have experience in this phenomenon will suffer becoming more poor .
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dcortez

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#43

11-26-2004, 08:25 AM

Originally posted by BRISK
I doubt this will ever happen

I agree that our consumer dependency on China is not likely to turn around overnight, but just like tectonic plates, stress and movement have to be recognized - unless the pressure is relieved, eventually there is an 'earthquake'.

So long as 'popular culture' keeps breeding non-thinking video game addicts with negative attention spans (visa vi media, public education, government reinforced acts of ignorance), there will not be any such 'earthquakes'.

Every now and then, the 'bright ones' might pause for a moment and ask what that grumble was, and then resume their artificially engineered lifestyles.

-Dino
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