Jman

Seriously this is fucked up

Make a $700 transfer for weekend expenses in CDN account and get $714

YAY!!!!!!

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swampthing

the dollar is going in the toilet....

usa is quickly becoming a third world country.

KimJI

I It will go down even more before the election. Its quite a lot of money European webmaster like myself loose this way. About 20% drop in a year.

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SL|M!

Around 40% drop for us Canucks

Brad Gosse

I am holding all my USD until this corrects.

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WiredGuy

This really sucks for us webmasters who have their entire holdings in USD.
WG

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Blue Player

Trying sending USD to the UK. you would get £350.

D

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KimJI

my Blomberg only show a 11,6% drop over the last year for you canadians. Strange

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u-Bob

The iluminati, the Rothschilds, the Bilderberg Group,...

pocketkangaroo

Yes, those 3rd world countries with the largest GDP in the world.

GreyWolf

You could have a word with the China Bank of China and around 30 other nations lending funds to the US and ask them for a 10 year freeze on interest payments Maybe that would cause an upwards blip on the dollar..

Seriously - fat chance in the foreseeable future of the US dollar being in shape. The underlying problem is deeply embedded and started decades ago. It's not likely to change much irrespective of what the government does.

Forgetting any war costs, when a nation buys more than it can pay for and supports this overspending over a prolonged period of time by external loans and appears unable to produce a positive trade balance in 30+ years - it's inevitable there will be a problem. In approx the last 10 years the govt has added another $10K debt for every citizen, and this is now around $32K-$34K per person - the highest govt debt on the planet.

On an individual/personal level the workforce have been spending more than they earn - this has varied, but up to 1.5 times more than earnings. This excess spending was supported by using home equity as an ATM, but, that has changed considerably and excess spending is now supported by credit card debt. Personal debt eventually has to have a payback time and there is no evidence of any "bonus earnings" to repay. Property foreclosures are already dramatically up on previous years and this is likely to continue in the coming years.

The symptoms are "debt", but the reason for these symptoms are many. Half the trade deficit is due to oil imports - for a nation with 5% of the world's population to consume around 50% of oil production is a joke - especially when most of that oil is not used to generate further wealth via industry, but expended on vehicle consumption. "Over consumption" is also the keyphrase for many other problem areas.

Only my but can't see any significant earners for the US to work it's way out of this level of debt. If an effort was made to increase the currently weak manufacturing industry to a level where it would impact trade deficits, this would involve billions in investment, but these billions do not exist. It's hard not to see the US as a stagnant corporation living off increasing loans from bankers and just repaying interest, and with steadily declining share values (read currency exchange).

Overall, this is a problem, not just for the US, but worldwide. Asian manufacturers are revamping their dollar price lists daily to reflect lower US dollar values (and not losing out). At a future time, and if the dollar continues to weaken, OPEC may elect to base oil on another more stable currency - this would be a serious major hit to the dollar.

As far as the adult industry is concerned (and everything takes longer to happen than we may like), processing will shift more towards economically stable regions and with added features of multi-currency subscriptions etc - tho this already exists with a few processors. Why should any webmaster earn eg 50% of what they should be earning in a UK example of $2 to one pound sterling? The Big Mac Index will eventually apply to compensate for low value currencies.

xroach

directfiesta

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GreyWolf

The solution was never in any politican or President - one man can never cure these problems The most a leader can do is balance the governments own budget and possibly provide a few tax incentives. The rest is more fundamental and embedded in "culture".

Juilan

The federal reserve will just print more money. I'm not kidding.

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AM Jeff

I do believe it's Juicys fault.
I mean seriously...he fucked up GFY.
He probably fucked up the almighty dollar.

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billybathgate

they already are ......

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GreyWolf

When you reverse that BP - the picture can be very nice

Example... if you wanted to buy a home in a country which prices property in US dollar value, a $300K home only costs 150K Sterling It's hard to find *anything* worth buying in the UK for that money - unless you want two cupboards and a window.

yahoo-xxx-girls.com

I'm not any of those guys... but I would like a stronger Canadian dollar perhaps around .98 in another few months... and 1.05 in half a year from now...

I think I'm being reasonable...


Later,

.

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_Richard_

the funny thing is if they do that, they're setting themselves up for completely dropping the value of the american dollar

GreyWolf

Think that is correct. It may be OK for a short term, but overall, continuing to do that is like a death wish - and ultimately reflect in even lower dollar values and an increase in costs of imported product.

It's almost as thro there is an intention to commit suicide and, as a passing thought, wonder who the beneficiaries would be

flashfire

how about the last 3 years 1.50 days were nice

yahoo-xxx-girls.com

The US dollar was based on the equivalent amount in gold as was said to be backup by such... now even though people say the US dollar is backed by gold, in reality such notes are now not even worth what they are written on... Internal trade to the US they could make their dollar worth anything they want, however such tactics such as printing even more money and saying its back by the equivalent in gold; underminds the US dollar and effects every other nation who trades with the United States...

So why as Canadians would we want to use the US dollar as a stable base as to dictate the value of the Canadian dollar... and trade...

Just another dumb Canadian,

^^

.

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JD

I don't think shap would like money in him... just a thought though....

yahoo-xxx-girls.com

Whats that in english... SPeRMiNaToR ?

.

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JD

it means "well hung white guy"

Dvae

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Arguing with a troll is a lot like wrestling in the mud with a pig, after a couple of hours you realize the pig likes it.

KimJI

Some years ago the dollar were above the Euro. We were making a killing. Now its 2/3 of the Euro. But the good thing is hosting, design and marketing gets cheaper that way.

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tony286

Its a sign how well we are doing. lol

yahoo-xxx-girls.com

Perhaps you should get yourself an education fist "Jesus H Christ"...

I might be a dumb Canadian, however I'm not sure how to class you O bright one... ^^

.

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yahoo-xxx-girls.com

If Yale was good for the President(s) then it should be good for you too...

^^

.

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warlock5

Double the number of dollars in 7 years, what do you expect? The good news is that the currencies the dollar has been devaluing against are in pretty bad shape as well. Right now most European currencies are overvalued while asian currencies (yen, yuan) are undervalued. The bottom line is that you have to make a lot more money to keep up with the shifts occurring in the global economy. The days of retiring on a million dollars and social security are long gone.

http://research.stlouisfed.org/fred2/series/MZM?cid=30

GreyWolf

There are many reasons for this - and among them is the fact that around 56% of China's imports are to foreign-based businesses investing in China. These same businesses also make up 54% of China's exports. China is valuing investors in China and retaining a healthy global trading environment for them.

A fair number of the businesses who have invested in China are US owned and these corps return profits to the US, and, like all of China's global trading partners, the US gets the benefit of cheap product.

Sure... aware the US government is complaining about "undervalued currency" and trying to get China to change it's economic plans - mainly due to a $233 billion trade deficit with China. Change is probably unlikely - China has other factors than US trade to consider.

The reality is consumption within the US is excessive when you consider that country only has 5% of world population. (It's the same with oil where that 5% population consume 50% of the world's oil production.) China is already supplying cheap product and contributing to corp profits within the US. Asking for more is like draining blood. There is nobody forcing any nation to buy from China - they can manufacture in their home country (and in the instance of the US, decrease that trade deficit), but - it's too easy to buy products generated from cheap labor. No?

GreyWolf

You saying the Euro, Sterling and other major currencies are in "pretty bad shape"?? Almost all other western industrialized countries are actually balancing their books and having increases in currency value because of that.

But sure - agree there is a challenge in managing a shift in the global economy and that's going to affect literally all western countries

inthecrack

If I had a choice I'd start billing in CDN or Euros. Since the only credit card processors available to us can only process in USD maybe it's time we all started raising our prices in direct proportion to the falling USD.

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spunkmaster

They said on ABC news today that the great US Growth of 3.2% the last quarter was due to the US Dollar being low. They said the lower dollar has resulted in record cheaper exports and the result has been good for the US Economy !!!

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GreyWolf

If the US is China's largest supplier of raw material, in theory, that should help the trade balance? I'm not familiar with raw supplies from the US to China (apart from steel and other obvious exports), but sounds that trading in these raw materials is not on the same level as consumption?

China is consuming raw product at an awesome rate eg there were reports of 56 bulk freight ships lined up outside one port for up to two weeks waiting to unload coal from Australia at a cost of $60K/day *lol* China is currently comsuming around 20% of the bulk freighters in the world and has forced freight charges up globally because of this - there are not enough ships.

China is a strange country to form alliances with. They have been building economic relationships globally - both at a govt and corp level. It is obvious they are investing in other countries with a view to spreading economic ties. They 'know' their forseeable future is in global trade.

At the same time all is not sweet - they have massive environmental problems and these are increasing. It costs many billions to try and "normalize" environmental damage and that's probably a lost bet as long as the rest of the world wants cheap product.

It's hard to say, but the expanding western Pacific rim/Asian economic powerhouse is going to be the biggest this world has ever seen and possibly unlikely that the region could be looked upon as another Taiwan or Korea - it's a much bigger fish.

Doubt that the Asian scenario will be the last in economic shifts in our lifetimes - Russia is probably next and they have more natural resource potential than any country.

China is "rich" thru their own efforts, cheap labor and via the companies who have invested in China (tho "rich" can be relative when you look at their other problems). Sure, China's customers played a role in this as well - but, that is a predatory role and these customers would probably not exist at the current level unless the Chinese product was cheap. Even corps investing in China have a predatory element (all corps are predatory by nature) - they want product for next to nothing to sell globally and show a healthy profit for their shareholders and don't really care about China as a country - the main factor is cheap labor.

PS The US home price devaluation is generally more related to optimistic forecasts, excessive (and predatory) lending where folks really can't afford these levels of mortgages. The main problem with the devaluation is that the home market within the US can have an affect on around 24% of the economy when you include all folks involved in construction/realtors/finance/insurance/domestic product manufacture and the businesses employing them - not good news.

GreyWolf

Started doing that a couple of years ago. It looked too stupid in other countries when a website subscription cost almost the same as a magazine *lol*

GreyWolf

That's what it should show

The downside is it takes a lot more increase in exports (or a decrease in imports) to get near a level trading balance, but the lower dollar should help.