50 :glugglug

Hmmm, I always thought income tax in Sweden was much higher than 35%.

lol, ? you dont have euros in hungary !! what that guy said is true!!!

everything got WAY more expensive becasue of the euro !!! :mad:

And I thought the Euro was outpacing the dollar in value, yet all this time it was just a difference in inflation. When can I say "I told you so!"?

a drink in norway would be about 80-90kr.. thats $12.46-14.. the dollar has dropped about 35% the last 3 years and keeps dropping daily.. so this isn't funny..

that is also not true, it is not inflation !! the stores changed all their prices in their advantage when they had to convert to euro !!

something that when converted correctly would be 1.45 became 2 to make it easier for the store onwers!

The dollar hasn't devalued at all. That would require deflation, which only happened for one quarter in 1979. Other then that, the US dollar has never deflated. In the last few years, the Euro has taken on lots of inflation and the US dollar has taken on almost none. You could say there is a comparative devaluing between the two currencies, but there is no real devaluing.

Income tax in Sweden is well over 50%. Sweden has one of the highest levels of taxation in the world.

The price of goods and services rose? That sounds like inflation to me.

prices increased ARTIFICIALLY

there were laws that forbade the store owners to do this , but many did it anyways

If you only price a dollar on goods you can purchase in the US then it hasn't devalued, that's what you'd typically call deflation.. But if you compare against a basket of goods in the world then it has grossly devalued.

To say the USD has not devalued is to have your head in the sand. The USD has lost value against nearly EVERY freely traded currency.

If prices increased, but it's not inflation, then what is it? I thought that was the very definition of inflation.

According to the book "Economics: Principles and Applications", the definition of inflation rate is as follows: The percent change in the price level from one period to the next.

Isn't this exactly what happened, prices went up?

it's worth shit in canada too now

Inflation rate in the USA in 2003: 2,3
Inflation rate in the European Union 2003: 2,0

USA

European Union

The Dollar has devalued in comparisson to the Euro and a couple of other currencies. If you say it has lost value against nearly EVERY freely traded currency, then prove it.

What I'm saying is that the "devaluation" is only comparative to a couple of currencies, but there is no real devaluation.

According to the book "Economics: Principles and Applications", the definition for devaluation is as follows: A change in the exchange rate from a higher fixed rate to a lower fixed rate.

If you use the Euro as a bench mark, you could say that, but that's just about it. Further, devaluation is not necessarily a bad thing. It is bad if it's because of deflation, but it is good if it's because of another currency's inflation. In this case, the Dollar has not deflated, had almost no inflation and the Euro has had lots of inflation. In this case, the devaluation of the Dollar as compared to the Euro is a good thing for America and a bad thing for Europe.

Same here in Czech Rep.

God, I hate socialist/leftist governments :feels-hot

How about 2000-2003? This is only last year's data and hasn't effected markets just yet. The USD had almost no inflation 2000-2002, yet the Euro had higher inflation rates, which gives us a added value difference today. In other words, we need more then just one year's stastics.

100% correct :thumbsup

There are always two sides:
- The current situation really hurts our exports. Our products are getting way too expensive compared to similar products available in the US. That hurts our industry. Greenspan has no intention to change that.
- But the current situation is good for our import industry. Products from the US are getting cheaper and cheaper.

Overall, its a bad thing for Europe as we do more exports than imports

Do you think it will re-gain it's value in the next months or years?

it will get even worse. Why should greenspan change the situation ??? Its good for the US economy.

Maybe the p. election will have some effect on this situation. Ya never know.

Dollar took a tremendous dive this year. I was told it benefits the people here in the U.S though.

Prove it? Go look it up yourself.
The USD has declined in the last two years against the Yen, Pound, Euro, Aussie Dollar, NZD, Canadian Dollar, Swiss Franc, Norweigan Krona..

The currencies it hasn't declined against are either third world hell holes or currencies that are managed by their Government e.g. China (it's probably decrease against that too anyway)

The president has nearly ZERO control over what the economy. The economy is a fallicious campaign platform. What congressmen we elect will have more effect on the economy then the president.

Well it's very oversold now, so I guess a bounce of some kind would be in order.

However with big budget and trade deficits it's hard to make a good case for a fundamental improvement in the dollar..

I hope though :/

I hope not, because this is a great situation for America. If we can keep inflation down, this will encourage the purchase of American exports.

BTW, the "devaluing" is only with a couple of currencies. World wide the USD is gaining value and has been for its entire history. Why do you think smaller countries and unstable countries prefer to trade in American money as opposed to their own currency? A Turk or Brazilian would accept a Dollar before they accept a Turkish Lira or a Brazilian Cruzeiro.

Well the President has power of veto so he has as much control as congressmen.

No, you made the positive claim, so it is up to you to prove it. I'm not going to prove shit for you, that's your job.

yup, the president has no control over the economy. But i said that the election could change something ... cause a positive sign from the election (the world is waiting for kerry) will result in more trust in the US economy and in the US dollar. Foreign companies will start to invest more in the US economy and traders will start to invest in the US Dollar again and guess what will happen ...

Congress can over ride his veto though, with a 66% majority. There is a limited sharing of power as checks and balances, but the president in the end has the least amount of power of all the governmental branches. Constitutionally, the president is supposed to be little more then a figure head, much like England's royal family.

not all of europe is slums

The USD index has decreased from 120 in 2002 to 87 now, if it was just a couple of currencies it'd be pretty much the same..

I'll go with the president indirectly effecting the economy. There are lots of things that work that way and effect consumer confidence, and investor confidence. That's just one of those unmeasurable variables.

That's not much for proof. Something like a complete index of currency values for the last 5 years would do it.

meh. who doesnt like to save :)

Time period: 01/01/00 to 10/26/04.
Conversion Table: USD to EUR (Interbank rate)
01/01/2000: 0.99300000
10/26/2004: 0.78130000

Conversion Table: USD to AUD (Interbank rate)
01/01/2000: 1.52370000
10/26/2004: 1.33990000

Conversion Table: USD to GBP (Interbank rate)
01/01/2000: 0.61820000
10/26/2004: 0.54330000

Conversion Table: USD to CAD (Interbank rate)
01/01/2000: 1.44650000
10/26/2004: 1.22140000

Conversion Table: USD to EEK (Interbank rate)
01/01/2000: 15.54710000
10/26/2004: 12.22656200

Conversion Table: USD to MTL (Interbank rate)
01/01/2000: 0.41440000
10/26/2004: 0.33770000

Conversion Table: USD to CHF (Interbank rate)
01/01/2000: 1.59120000
10/26/2004: 1.19670000

You asked for it ... na, its not that hard actually. Im sure you know that the US Dollar lost against many important currencies ... but not against all of them. The Dollar is still stable!

But check the last row .. USD to Swiss Franc. This really hurts me :( . I used to earn way more per $ in this industry some years ago

That's only USD to Euro conversion. I never questioned the devaluation between the two, I questioned the devaluation of the USD as compared to all currencies in general, as was asserted earlier.

not just Euro :winkwink:

just few month ago or so it was $1.31 canadian for $1usd, I check today and it's at $1.20 I almost had a heart attack...

if you got $100,000 in your bank account you lost $11,000 just like that in Canada ...

someone shoot bush poleaseeeeeee :mad:

you can't compare croatia to the western or north europe...

central and east european prices are low, but so are average salaries there...

Now that's a funny post. You really have NO clue at all do you? Do yourself a favour and buy a plane ticket so that you step outside of the US for a while. It'll save you from making yourself look so incredibly stupid a second time.

Then, if you compare the dollar to the average currency of every industrialized nation, during a time when the USD is taking on little to no inflation and recovering from a recession, there's a period of devaluation. That's an average of industrial nation's currency values, which is a far cry from:

Especially since there are lots of freely traded currencies that are not industrialized nations.

But that's all you posted.

Bush has shit to do with that.

At least that post answers a question I had. You really do have the inability to read and understand very simple text. Put the economics books down as they really are totally wasted on you. :glugglug

Eat a bag of glass asshole, seriously. :321GFY

no, check again

ok you're right housing costs depends on your localisation in poland but are usually lower then in usa

and you're right about luxury items but lets try this:

- cheapest toyota corolla $16k in poland and $14k in USA

note: prices of japan cars has dropped a little since poland is in EU - taxation change, and you probably don't know but US version is more comfortable and it has more items included like air conditioning etc. etc.

- digital camera canon powershoot A75 in poland $248 and $179 in USA

and for goodness' sake average salary in poland is $657 BEFORE taxes - I hope it explains why it makes no sense to compare

by the way cigs are cheaper here - marlboro is about $1,8

USD = Unreliabble Shitty Dollars