Yup it'll keep going down, wouldn't surprise me to see some govt intervention in the near future though it won't stop the trend for hopefully (I'm short USDCAD) quite some time.
As much as I dislike Bush, sadly I don't think this is all his fault... it's more the society as a whole.
Yup it'll keep going down, wouldn't surprise me to see some govt intervention in the near future though it won't stop the trend for hopefully (I'm short USDCAD) quite some time.
As much as I dislike Bush, sadly I don't think this is all his fault... it's more the society as a whole.
The Government intervention is what has been causing it for the most part.
Are you hoping for the sniper kind, or maybe umm the putin problem people style of involvement?
More the concerted effort to boost the currency by very large scale buying, normally done in association with other countries central banks. Get it near trendline support then give it a VERY big shove to try to create a reversal.
As much as I dislike Bush, sadly I don't think this is all his fault... it's more the society as a whole.
How is it not his fault? he insists on continueing his war, which is costing lots of money. They have to print more money, thus making the US dollar drop like a rock. On top of that, people are dumping US funds because of the drop, furthering the issue. This is analing people like me, who get paid mostly in USD but live abroad
big drop today...bank of canada says the rise in the dollar has been "abnormal" and not supported buy financial data. Biggest one day drop since 2005, lets hope this keeps up. Still above par though, especially after the bank rips you off
How is it not his fault? he insists on continueing his war, which is costing lots of money. They have to print more money, thus making the US dollar drop like a rock. On top of that, people are dumping US funds because of the drop, furthering the issue. This is analing people like me, who get paid mostly in USD but live abroad
I live overseas as well... aussie dollar has gone from 0.55 some years ago to around 0.9
I said ALL his fault... I'm sure a massive part of it is his fault, though American consumers (and a heap of bankers etc.) are also to blame.
How is it not his fault? he insists on continueing his war, which is costing lots of money. They have to print more money, thus making the US dollar drop like a rock. On top of that, people are dumping US funds because of the drop, furthering the issue. This is analing people like me, who get paid mostly in USD but live abroad
Sure, the admin are responsible to a degree (ie in that they are totally incompetent and clueless), but there are many other factors as well and, with our without a "war", it's only a matter of time before shit hits. The country is unsustainable and can't generate "wealth" and have been supported by loans for years while living off a fantasy national credit card.
It's easy to say, and harder to do, but US industry needs a more solid core base and severely needs to compete internationally. But again... that costs plenty money which does not exist (more loans??). There are many aspects similar to "industry" and they all contribute to the core unsustainable element and this has never been a concern of govt for decades - all fantasy.
Yeah, the 2 billion dollars per week war, printing unbacked money and borrowing funds from China, Japan, Mexico and more has nothing to do with it.
That $2 bill/week war seems to be just grain of sand in relation to other other borrowings...
Example... the borrowings from the Central Bank of China alone are $3-4 billion/day and a further $9-12 billion/day from other nations. (These are very "average" borrowings and can be a few billion either way).
So.. in a week, at a modest calculation, the loans are approx $60-70billion and little clue to repay but just cover the interest costs?? The "war" seems to fade into insignificance in relation to the overall problem.
Maybe there is an economic problem or the calculator is bust?? I'd gamble all assets on the first possibility with 100% certainty.
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