Sell your U.S. Dollars
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Financial Times[^] China is expected to sell it's U.S. dollars for Euros in the near future.
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Financial Times[^] China is expected to sell it's U.S. dollars for Euros in the near future.
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Why would any U.S. citizen even think about complaining? It'll make losers out of Europeans and Chinese. Why do you think they're bitching about the dollar for years? Do you think they "care for G.W.'s America" so much? Tomaz
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Chris Losinger wrote: first Republican to complain about this gets a poke in the eye with a wad of flaming dollar bills. It will be good for the American worker. Foreign goods will be more expensive which will create more jobs in America. An unintended consequence will be innovation to create less costly products and the development of cheaper fuel sources, as in bio-mass, here at home. China's action is salvo #1 in taking on America. It will be interesting to see the administration's actions in teh next couple of years. Mike "liberals were driven crazy by Bush." Me To: Dixie Sluts, M. Moore, the Boss, Bon Jovi, Clooney, Penn, Babs, Soros, Redford, Gore, Daschle - "bye bye" Me "I voted for W." Me "There you go again." RR "Flushed the Johns" Me
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Chris Losinger wrote: first Republican to complain about this gets a poke in the eye with a wad of flaming dollar bills. It will be good for the American worker. Foreign goods will be more expensive which will create more jobs in America. An unintended consequence will be innovation to create less costly products and the development of cheaper fuel sources, as in bio-mass, here at home. China's action is salvo #1 in taking on America. It will be interesting to see the administration's actions in teh next couple of years. Mike "liberals were driven crazy by Bush." Me To: Dixie Sluts, M. Moore, the Boss, Bon Jovi, Clooney, Penn, Babs, Soros, Redford, Gore, Daschle - "bye bye" Me "I voted for W." Me "There you go again." RR "Flushed the Johns" Me
Mike Gaskey wrote: It will be good for the American worker. Foreign goods will be more expensive which will create more jobs in America It would be nice to see the flow of products from China slow. It makes me sick when I see people running into Walmart and the other so called "super stores" to buy cheap foreign goods. I wonder how the same people justify their complaints about a loss of manufacturing jobs with their buying habits. I don't think that the so called "global economy" works to our country's favor, screw the big multinational corporations. Uptight Ex-Military Republican married to a Commie Lib - How weird is that?
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Lets see, a weaker dollar: Makes outsourcing less attractive, Makes US goods and Services more attractive abroad, Makes imported goods less attractive here, And what was the downside? ;) Why would anyone waste time arguing with an accountant about anything? Their sole function is to record what happenned, and any higher aspirations are mere delusions of grandeur. On the ladder of productive contributions they are the little rubber pads at the bottom that keep the thing from sliding out from under you. - Roger Wright
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Lets see, a weaker dollar: Makes outsourcing less attractive, Makes US goods and Services more attractive abroad, Makes imported goods less attractive here, And what was the downside? ;) Why would anyone waste time arguing with an accountant about anything? Their sole function is to record what happenned, and any higher aspirations are mere delusions of grandeur. On the ladder of productive contributions they are the little rubber pads at the bottom that keep the thing from sliding out from under you. - Roger Wright
Downside: Foreign goods cost more Cost of tourism to other countries goes up. Financial power of the U.S. declines relative to other countries During the slide no one will invest in any U.S. business Interest rates will almost certainly go up - increasing interest payments on your massive debt Had enough?
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Downside: Foreign goods cost more Cost of tourism to other countries goes up. Financial power of the U.S. declines relative to other countries During the slide no one will invest in any U.S. business Interest rates will almost certainly go up - increasing interest payments on your massive debt Had enough?
Jeff Bogan wrote: Had enough? There are clear advantages and disadvantages to a weak dollar. They way I understand it is that the advantages are typically short term while the disadvantages are long term. Since the Bush administration is ignoring the situation speculation has grown that this is intentional to increase domestic activity. Of course no one in the administration will admit that because it would be a slap in the face to Europeans who are most disadvantaged at the moment. I suspect action will be taken to increase the value of the dollar again to mitigate the long term risks after the United States has seen strong economic growth.
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Chris Losinger wrote: first Republican to complain about this gets a poke in the eye with a wad of flaming dollar bills. Why complain ? A good Rebublican knows one can make money no matter which way the dollar goes. If you are so sure that the Euro is gonna improve against the dollar buy Euros now - make a buck or two when it happens. Of course as a good Democrat you are just gonna bitch about all those evil Republicans making those bucks and probab;y throw in a comment or two about how we should tax the hell out of them for having more sense than the average Dem - how dare they make money at the cost of their countries currency. Richard "Under certain circumstances, profanity provides a relief denied even to prayer --Mark Twain (1835 - 1910)
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Why would any U.S. citizen even think about complaining? It'll make losers out of Europeans and Chinese. Why do you think they're bitching about the dollar for years? Do you think they "care for G.W.'s America" so much? Tomaz
Tomaž Štih wrote: Why would any U.S. citizen even think about complaining? because there's a good chance interest rates will rise to offset the decline in dollar value. but it won't be just higher rates on treasury bonds; mortgage and other debt will get more expensive, too. that's anti-good, since the US has been enjoying a huge housing boom for the past few years, due to low interest rates. Software | Cleek
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Downside: Foreign goods cost more Cost of tourism to other countries goes up. Financial power of the U.S. declines relative to other countries During the slide no one will invest in any U.S. business Interest rates will almost certainly go up - increasing interest payments on your massive debt Had enough?
Jeff Bogan wrote: Foreign goods cost more which will help the local competition, and our balance of trade... Jeff Bogan wrote: Cost of tourism to other countries goes up. You assume we want or need to go...plenty to see and do here at home. By the same token, US visits become cheaper for other countries, which helps the local tourism industry... Jeff Bogan wrote: Financial power of the U.S. declines relative to other countries Are you complaining? And what does that mean anyway? We're a long way from needing help from the World Bank... Jeff Bogan wrote: During the slide no one will invest in any U.S. business I think your logic is flawed here: US investments will be cheaper by comparison, and seem attractive. US investors will be more likely to keep their money at home... Jeff Bogan wrote: Interest rates will almost certainly go up - increasing interest payments on your massive debt Looking up from historic lows, that does not seem very troublesome. We have a long way to go before "Jimmy Carter" levels are reached. The current debt as a percentage of GNP is not as large as in some poast times, and the debt projections are already being revised downward as revenue increase from increased economic cash flow exceeds the gloom and doom projections. Frankly, I worry more about our lousy balance of trade than about the national debt, and a weak dollar helps with the BOT. :) Why would anyone waste time arguing with an accountant about anything? Their sole function is to record what happenned, and any higher aspirations are mere delusions of grandeur. On the ladder of productive contributions they are the little rubber pads at the bottom that keep the thing from sliding out from under you. - Roger Wright
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Tomaž Štih wrote: Why would any U.S. citizen even think about complaining? because there's a good chance interest rates will rise to offset the decline in dollar value. but it won't be just higher rates on treasury bonds; mortgage and other debt will get more expensive, too. that's anti-good, since the US has been enjoying a huge housing boom for the past few years, due to low interest rates. Software | Cleek
Honeslty i have never seen interest rate so low in my life. This is what happens when you give tax cuts during unfavorable wars. Then GWB has passed every spending bill he can. I always thought that the republicans were more financially adept to the democrats. However GWB's course of action seem to be more of a "gamble" than anything else. Then to put icing on the cake, China is on our tail, and so is India. Hopefully the president can actually take some interest in our economy, instead of acting like a spoiled kid with a rich daddy. [edit] no replies about how the interest rate was lowered before the war please, i already know. [edit] Discovery consist of seeing what everybody has seen and thinking what nobody has thought -- Albert Szent-Györgyi Name the greatest of all the inventors: accident --Mark Twain
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Honeslty i have never seen interest rate so low in my life. This is what happens when you give tax cuts during unfavorable wars. Then GWB has passed every spending bill he can. I always thought that the republicans were more financially adept to the democrats. However GWB's course of action seem to be more of a "gamble" than anything else. Then to put icing on the cake, China is on our tail, and so is India. Hopefully the president can actually take some interest in our economy, instead of acting like a spoiled kid with a rich daddy. [edit] no replies about how the interest rate was lowered before the war please, i already know. [edit] Discovery consist of seeing what everybody has seen and thinking what nobody has thought -- Albert Szent-Györgyi Name the greatest of all the inventors: accident --Mark Twain
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Don't have to tell me , they pretty much blew that myth for me a long time ago. Discovery consist of seeing what everybody has seen and thinking what nobody has thought -- Albert Szent-Györgyi Name the greatest of all the inventors: accident --Mark Twain
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Mike Gaskey wrote: It will be good for the American worker. Foreign goods will be more expensive which will create more jobs in America It would be nice to see the flow of products from China slow. It makes me sick when I see people running into Walmart and the other so called "super stores" to buy cheap foreign goods. I wonder how the same people justify their complaints about a loss of manufacturing jobs with their buying habits. I don't think that the so called "global economy" works to our country's favor, screw the big multinational corporations. Uptight Ex-Military Republican married to a Commie Lib - How weird is that?
It would be nice to see the flow of products from China slow Agreed. It makes me sick when I see people running into Walmart and the other so called "super stores" to buy cheap foreign goods. Well I am not sure why? Let's say I have a family on a tight budget where every dollar counts. If these stores sell what I need for my family at a low cost what else would you have them do? Where else would they go? How would you explain to them that they should dig *even* deeper into an already tight (non-existent?) family budget to buy more expensive goods (forget for the moment *where* the goods are made). I wonder how the same people justify their complaints about a loss of manufacturing jobs with their buying habits. I am not sure either, but if someone has gotten laid off from a job, and is having a really hard time finding work, or has found work, but is having a difficult time making ends meet (note, I am assuming responsible, frugal spending here), then I don't know how you ask them to spend *more* money that they may not even have. Like anything I think the solution (or at least part of it) needs to come from both "sides", i.e. consumers need to make an effort, where possible, to try and buy american goods in a show of support , and american corporations need to make some effort to stick by american workers, even at risk to *short* term profits. Maybe accepting that instead of a 6% increase in profits that they only get a 4% increase (or whatever is appropriate). If people want to "buy American" then *everybody* needs to make a little bit of a sacrifice. Or maybe that's just plain stupid. ¡El diablo está en mis pantalones! ¡Mire, mire! Real Mentats use only 100% pure, unfooled around with Sapho Juice(tm)! SELECT * FROM User WHERE Clue > 0 0 rows returned
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It would be nice to see the flow of products from China slow Agreed. It makes me sick when I see people running into Walmart and the other so called "super stores" to buy cheap foreign goods. Well I am not sure why? Let's say I have a family on a tight budget where every dollar counts. If these stores sell what I need for my family at a low cost what else would you have them do? Where else would they go? How would you explain to them that they should dig *even* deeper into an already tight (non-existent?) family budget to buy more expensive goods (forget for the moment *where* the goods are made). I wonder how the same people justify their complaints about a loss of manufacturing jobs with their buying habits. I am not sure either, but if someone has gotten laid off from a job, and is having a really hard time finding work, or has found work, but is having a difficult time making ends meet (note, I am assuming responsible, frugal spending here), then I don't know how you ask them to spend *more* money that they may not even have. Like anything I think the solution (or at least part of it) needs to come from both "sides", i.e. consumers need to make an effort, where possible, to try and buy american goods in a show of support , and american corporations need to make some effort to stick by american workers, even at risk to *short* term profits. Maybe accepting that instead of a 6% increase in profits that they only get a 4% increase (or whatever is appropriate). If people want to "buy American" then *everybody* needs to make a little bit of a sacrifice. Or maybe that's just plain stupid. ¡El diablo está en mis pantalones! ¡Mire, mire! Real Mentats use only 100% pure, unfooled around with Sapho Juice(tm)! SELECT * FROM User WHERE Clue > 0 0 rows returned
Jim Crafton wrote: Well I am not sure why? Let's say I have a family on a tight budget where every dollar counts. If these stores sell what I need for my family at a low cost what else would you have them do? Where else would they go? How would you explain to them that they should dig *even* deeper into an already tight (non-existent?) family budget to buy more expensive goods (forget for the moment *where* the goods are made). There's a big difference between the situation that you describe and the average American. I would never advocate that someone try to live beyond their means, however, American consumerism lately is amazing. The amount of money debt that we are encouraged to incur and live with is amazing to me. My point is merely that whenever possible (and practical) we should try to support our local economies, whether that means buying from the local grocery store or buying American. The big danger I see is that within a generation or so the US will have an enourmous underclass of people who have few decent employment oppurtunities. The middle class is its own worst enemy when it spends its money unwisely. Jim Crafton wrote: Like anything I think the solution (or at least part of it) needs to come from both "sides", i.e. consumers need to make an effort, where possible, to try and buy american goods in a show of support , and american corporations need to make some effort to stick by american workers, even at risk to *short* term profits. Maybe accepting that instead of a 6% increase in profits that they only get a 4% increase (or whatever is appropriate). If people want to "buy American" then *everybody* needs to make a little bit of a sacrifice My beliefs exactly. Jim Crafton wrote: Or maybe that's just plain stupid. I think that it would be foolish to not act responsibly in our collective self interests. Uptight Ex-Military Republican married to a Commie Lib - How weird is that?
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Jeff Bogan wrote: Foreign goods cost more which will help the local competition, and our balance of trade... Jeff Bogan wrote: Cost of tourism to other countries goes up. You assume we want or need to go...plenty to see and do here at home. By the same token, US visits become cheaper for other countries, which helps the local tourism industry... Jeff Bogan wrote: Financial power of the U.S. declines relative to other countries Are you complaining? And what does that mean anyway? We're a long way from needing help from the World Bank... Jeff Bogan wrote: During the slide no one will invest in any U.S. business I think your logic is flawed here: US investments will be cheaper by comparison, and seem attractive. US investors will be more likely to keep their money at home... Jeff Bogan wrote: Interest rates will almost certainly go up - increasing interest payments on your massive debt Looking up from historic lows, that does not seem very troublesome. We have a long way to go before "Jimmy Carter" levels are reached. The current debt as a percentage of GNP is not as large as in some poast times, and the debt projections are already being revised downward as revenue increase from increased economic cash flow exceeds the gloom and doom projections. Frankly, I worry more about our lousy balance of trade than about the national debt, and a weak dollar helps with the BOT. :) Why would anyone waste time arguing with an accountant about anything? Their sole function is to record what happenned, and any higher aspirations are mere delusions of grandeur. On the ladder of productive contributions they are the little rubber pads at the bottom that keep the thing from sliding out from under you. - Roger Wright
Rob Graham wrote: I think your logic is flawed here: US investments will be cheaper by comparison, and seem attractive. That will be true when foreigners see that the dollar has bottomed out, and showing signs of recovery, but while it is dropping it doesn't make any sense. The only way to entice them to invest is to make it a really, really good investment to offset the currency risk (i.e. higher interest rates - much higher) US investors will be more likely to keep their money at home... U.S. investor in the know will not keep their money at home - just the opposite - if you price everything in U.S. dollars it will look like the whole world is full of rising foreign stocks, just because your dollar is dropping. If you invest in a good European Money Market Fund you will do well. (Asuming that the Chinese do go ahead and exchange their dollars for euros and Bush plows ahead with his deficit spending.) It is true that US exports will improve and cheap Chinese goods will get more expensive and offshoring will look less and less like a good deal, but that is going to take a while.
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Lets see, a weaker dollar: Makes outsourcing less attractive, Makes US goods and Services more attractive abroad, Makes imported goods less attractive here, And what was the downside? ;) Why would anyone waste time arguing with an accountant about anything? Their sole function is to record what happenned, and any higher aspirations are mere delusions of grandeur. On the ladder of productive contributions they are the little rubber pads at the bottom that keep the thing from sliding out from under you. - Roger Wright
Rob Graham wrote: Makes outsourcing less attractive, Makes US goods and Services more attractive abroad, Makes imported goods less attractive here, All good points. Rob Graham wrote: And what was the downside? Only if US borrowing or defecit has been taken out in other currencies is there any real downside. Apart from that its all a balancing act. The International Market forces dictate what the US $ should be worth and any tinkering of policy is likely to be detrimental in the long term. (I know you knew that) :-) Regardz Colin J Davies Attention: It's finally arrived, The worlds first DSP.
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Financial Times[^] China is expected to sell it's U.S. dollars for Euros in the near future.
Yeah, Trick is to buy now before the tumble, then to pick the bottom of the US $ price and buy back in. Time this right and you could make a very handsome profit. Regardz Colin J Davies Attention: It's finally arrived, The worlds first DSP.
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Yeah, Trick is to buy now before the tumble, then to pick the bottom of the US $ price and buy back in. Time this right and you could make a very handsome profit. Regardz Colin J Davies Attention: It's finally arrived, The worlds first DSP.
ColinDavies wrote: Yeah, Trick is to buy now before the tumble, then to pick the bottom of the US $ price and buy back in. Time this right and you could make a very handsome profit. Which is probably why George Soros, the leading money trader in the world and Bush/America hater numero uno, is probably engineering the entire operation.