I have been buying up GM and Ford stock lately under the same premise, I think UAW is finally coming around to the realization that they are not going to have jobs if they don't agree to some cuts to allow the company to be competitive... and I think we're gonna see some great stuff come out of Detroit soon... What goes up always comes down, what goes down doesn't always go back up, but with some entities its a good bet to make.

I heard that as a Chinese saying, and of course, it is not a blessing, but a curse.

If China drops the USD as their reserve currency of choice, many more will follow and the USD will probably never recover to its previous strength. Keep in mind that the OPEC countries have been looking at charging in EUR/barrel for a long time now and the lower the USD goes (which will happen for sure if China goes ahead with the announced move) the more likely they are to switch as well, since it's hollowing out their profits. If you think the USD is low now, just wait until everyone drops it and switches to EUR.

well think of it this way guys
10 years ago i used to get CAD 1400 for a thousand US.
5 years ago maybe 1300
3 years ago 1200
1 year ago 1100
and now 925
last week it dipped below 895
so I have exchanged most of my US stash. dont you think many others are doing the same thing now....why invest in a loser
It is as simple as that

You have a serious reading comprehension problem if what you took from my post was that I'm ok with seniors getting kicked out of emergency rooms.

I said we need to nationalize the system because if we don't we'll have to kick seniors out of emergency rooms.....and somehow you think that means I want to kick them out of emergency rooms.

Also, my parents are already senior citizens kid.

economics buffs make hilarious keyboard warriors!

Why would China publish their intention to change from dollar
to other currency? Would'nt that statement couse value of dollar
going down and therefore China would lose money in exchange?
Don't know, I am just part time adult webmaster...

If our dollar collapsed China would fuck themselves over as badly as it fucked us. :2 cents:

The Russian financial crisis (also called "Rouble crisis") hit Russia in August 17 1998. It was exacerbated by the global recession of 1998, which started with the Asian financial crisis in July 1997. Given the ensuing decline in world commodity prices, countries heavily dependent on the export of raw materials, such as oil, were among those most severely hit. (Petroleum, natural gas, metals, and timber accounted for more than 80% of Russian exports, leaving the country vulnerable to swings in world prices. Oil was also a major source of government tax revenue.[1]) The sharp decline in the price of oil had severe consequences for Russia. However, the primary cause of the Russian Financial Crisis was not the fall of oil prices directly, but the result of non-payment of taxes by the energy and manufacturing industries.

SnakeDoctor , you really are handicapped .. or what?

You just repeated exactly what I said ... :1orglaugh:1orglaugh:1orglaugh

Woj raises an interesting point. The way things are going now, the current trends seem almost predictable. There seems to be a lot of forex money to be made betting against the USD and buying up EU or GBP. Heck, even the local currency here, the Philippine peso, has racked up 11%+ in the past year against the greenback.

Ok so first you say that my statement is false, and then proceed to explain to me that our trade balance is negative, when I said in my original statement that our trade balance is negative.

Then in this sentence you explain the exact reasons why what I said is true, but you say it as though you're disagreeing with me or correcting what I said.

You made this idiotic statement, so I posted data that shows that the U.S. is the world's 3rd largest exporter, and proceeded to explain to you why all of your confused bullshit above was wrong with this post

And then your comeback is this?

Dude, put the fucking crack pipe down and step away from the keyboard, you don't belong in this discussion.
Stick with the "would you hit it" threads mmmmmkay?

Damage X: I agree. It looks like it's just a question of WHEN not IF since they've already signaled they'll be swapping some of the reserves out for EU or CDN. Unless something dramatic happens, it's probably a good bet that this swap out will continue. I mean, who wants to hang on to a rapidly depreciating reserve asset?

On the other hand, the US Fed can't maneuver much except to cut rates to help out the financial markets but that's just going to drive the USD's value even lower. It's caught between a rock and a hard place. The hard place being the increasing prices of food commodities due to higher fuel input and biodiesel pressures (why sell corn for food when you can sell it at a biofuel-subsidized higher price?).

to anyone that believes the US couldn't just up and start producing more, thats rediculous.

just like when war time came for WWII, we all of sudden had plenty of new factories right in time.

the US economy will bounce, maybe not to the #1 spot, but lots of other countries economies will bounce back downward as well, since very many economies are indirectly and directly tied the US in many more ways than we could go over on an Adult Message board.

oddly it was just Friday that Goldman Sachs said it was time to start shorting the CDN.

also .. the reason why one country imports more then exports is b/c it was cheaper to do so at that time, when the time changes, the trend reverts.

lots of companies out here would love to regain dominance, big companies like GM would love it, make some more cars, we could start printing stickers "US Made - I did it for the Economy"

dollar will only lose its power in world if people start to trade oil with euro vs

until that time it is impossible dollar will lose its power

it is that easy

I agree.

xxxRumor: Exactly. It would a long process. But, as DamageX said earlier, there WILL be a downward spiral if there's no counteracting news or development.