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Author Topic: Dollar Dropping Like a F-ing Rock!  (Read 2826 times)
opebo
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« on: November 09, 2004, 05:55:25 am »
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Every day we go farther down this road:

http://biz.yahoo.com/ap/041108/euro_dollar_15.html

Better get used to economic mediocrity - well I suppose Bush staters are used to that already. Wink

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Angel of Death
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« Reply #1 on: November 09, 2004, 06:52:50 am »
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Some cynics are saying that this is being done deliberately in order to lower the deficit while simultaneously hurting the exports of opposing economies who are now forced to support the dollar by buying lots of them, resulting in them also paying for the spending habits of the US.

Evilness and intelligence (the administration, not the figurehead) make for a dangerous mix indeed.
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Angel of Death
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« Reply #2 on: November 09, 2004, 07:02:29 am »
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Of course, there will have to come a moment at which OPEC is going to say "party's over" and starts selling oil in euros, after which the American economy is going to implode like a star below the Chandrasekhar limit.
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Volrath50
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« Reply #3 on: November 09, 2004, 07:22:21 am »
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We've noticed this alot in Canada. Sometime in October our dollar was at 79 cents. It's now risen to 84 cents in the course of a few weeks. And just two years ago our dollar was at about 62 cents. This is an unbelievable increase, and due mostly to the collapsing US dollar.
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« Reply #4 on: November 09, 2004, 08:04:27 am »
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Yeah, the dollar's currently very low. I don't think it's at its lowest ever, though. If I remember correctly it was below 1,50 DM for a while in the early or mid 90s.
It's now something like 75-80 Euro cents, so still ahead of that mark. (One Euro = 1,96 DM)
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J. J.
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« Reply #5 on: November 09, 2004, 01:11:23 pm »
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A lower dollar does not necessarily hurt the American economy.  Though much of the early 90's and late 80's the dollar was too high.  This is a boon to exporters.
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A18
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« Reply #6 on: November 09, 2004, 01:16:05 pm »
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The value of the dollar does not indicate the strength of the American economy. We could double everyone's money tomorrow, and we'd still have the same economy.
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angus
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« Reply #7 on: November 09, 2004, 01:21:16 pm »
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Yeah, the dollar's currently very low. I don't think it's at its lowest ever, though. If I remember correctly it was below 1,50 DM for a while in the early or mid 90s.
It's now something like 75-80 Euro cents, so still ahead of that mark. (One Euro = 1,96 DM)

correct.  but comparison to DM is tough, since it got permanently affixed to the european currency unit.  I note today that one dollar buys 105.6 yen.  That's damned low, but not the lowest ever.  Again, there are certainly advantages and disadvantages to this scenario.  The conservative approach is to maintain a strong dollar.  Currently they are not taking a conservative approach.  While I agree on one hand with Opebo's observation that real wealth falls, I am not among the 'wealthy' so it doesn't hit me as hard.  Also, I'm fairly diversified in foreign stocks as well.  The smart investor won't panic at this point.

the only time I panicked was just before 1-1-2000 when there were speculations of world-wide bank failures, airplanes falling out of the skies, general maddness following the so-called Y2K bug.  I got just paranoid enough to buy one troy pound of gold.  Today, I'm glad I did  Smiley
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StatesRights
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« Reply #8 on: November 09, 2004, 01:27:53 pm »
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<voice from the past> Bring back the gold standard!!
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« Reply #9 on: November 09, 2004, 01:49:46 pm »
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Every day we go farther down this road:

http://biz.yahoo.com/ap/041108/euro_dollar_15.html

Better get used to economic mediocrity - well I suppose Bush staters are used to that already. Wink



As far as fiscal responsibiltiy is concerend, Bush's mediocre at the very best.

Dave
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angus
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« Reply #10 on: November 09, 2004, 02:00:54 pm »
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<voice from the past> Bring back the gold standard!!


105.7 now.  edged up a little.

Follow the yellow brick road!

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opebo
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« Reply #11 on: November 09, 2004, 02:42:06 pm »
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The value of the dollar does not indicate the strength of the American economy. We could double everyone's money tomorrow, and we'd still have the same economy.

You have no understanding of economics.  The value of the dollar relativel to other currencies is a direct result of the market's assessment of the viability of America - economy, government, society, etc.  And the market currently thinks the US is going down the tubes - has thought so since 2000.
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A18
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« Reply #12 on: November 09, 2004, 02:58:25 pm »
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You don't know what you're talking about. The value of the dollar relative to other currency depends on two things:
A. the goods and services that can be purchased with it
B. the availability of it, setting the prices of those goods and services
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opebo
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« Reply #13 on: November 09, 2004, 03:03:57 pm »
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You don't know what you're talking about. The value of the dollar relative to other currency depends on two things:
A. the goods and services that can be purchased with it
B. the availability of it, setting the prices of those goods and services

OK, why then have Europeans gotten so much richer and Americans so much poorer over the last four years?  They can buy enormously more than we can - they're just plain better off than us, and it all comes down to having a strong currency.  The dollar is toilet paper compared to the Euro.
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IDS Judicial Overlord John Dibble
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« Reply #14 on: November 09, 2004, 03:11:43 pm »
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You don't know what you're talking about. The value of the dollar relative to other currency depends on two things:
A. the goods and services that can be purchased with it
B. the availability of it, setting the prices of those goods and services

OK, why then have Europeans gotten so much richer and Americans so much poorer over the last four years?  They can buy enormously more than we can - they're just plain better off than us, and it all comes down to having a strong currency.  The dollar is toilet paper compared to the Euro.

So I take it you'll be wiping your arse with dollar bills from now on?
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opebo
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« Reply #15 on: November 09, 2004, 03:35:22 pm »
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You don't know what you're talking about. The value of the dollar relative to other currency depends on two things:
A. the goods and services that can be purchased with it
B. the availability of it, setting the prices of those goods and services

OK, why then have Europeans gotten so much richer and Americans so much poorer over the last four years?  They can buy enormously more than we can - they're just plain better off than us, and it all comes down to having a strong currency.  The dollar is toilet paper compared to the Euro.

So I take it you'll be wiping your arse with dollar bills from now on?

Well.. if I were out in the jungle, and had to go.. and all I had were dollar bills and Euros to wipe with, you can bet I'd use the dollars!

Actually, interestingly enough, here in Thailand we use little sprayers like the dishwasher sprayer hose in a typical American sink, only attached to the toilet.  Very clean!
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IDS Judicial Overlord John Dibble
John Dibble
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« Reply #16 on: November 09, 2004, 03:38:51 pm »
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You don't know what you're talking about. The value of the dollar relative to other currency depends on two things:
A. the goods and services that can be purchased with it
B. the availability of it, setting the prices of those goods and services

OK, why then have Europeans gotten so much richer and Americans so much poorer over the last four years?  They can buy enormously more than we can - they're just plain better off than us, and it all comes down to having a strong currency.  The dollar is toilet paper compared to the Euro.

So I take it you'll be wiping your arse with dollar bills from now on?

Well.. if I were out in the jungle, and had to go.. and all I had were dollar bills and Euros to wipe with, you can bet I'd use the dollars!

Actually, interestingly enough, here in Thailand we use little sprayers like the dishwasher sprayer hose in a typical American sink, only attached to the toilet.  Very clean!

Hmm, I'd probably just use a leaf or something, but whatever floats your boat.
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Erc
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« Reply #17 on: November 09, 2004, 04:31:27 pm »
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Don't feed the troll.
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patrick1
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« Reply #18 on: November 09, 2004, 05:09:56 pm »
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You don't know what you're talking about. The value of the dollar relative to other currency depends on two things:
A. the goods and services that can be purchased with it
B. the availability of it, setting the prices of those goods and services

OK, why then have Europeans gotten so much richer and Americans so much poorer over the last four years?  They can buy enormously more than we can - they're just plain better off than us, and it all comes down to having a strong currency.  The dollar is toilet paper compared to the Euro.

So I take it you'll be wiping your arse with dollar bills from now on?

Well.. if I were out in the jungle, and had to go.. and all I had were dollar bills and Euros to wipe with, you can bet I'd use the dollars!

Actually, interestingly enough, here in Thailand we use little sprayers like the dishwasher sprayer hose in a typical American sink, only attached to the toilet.  Very clean!

Opebo is as ignorant of economics as he is theology.  The great European economy that you speak of is not in great shape.  Have you looked at some unemployment figures for France and Germany?  The American economy is still the most robust worldwide and will remain so as long mainland Europe has archaic labour practices.
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stry_cat
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« Reply #19 on: November 10, 2004, 08:34:59 am »
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The dollar is falling b/c for the last couple of years the Fed has been printing money like crazy.  The more dollars in circulation the less they're worth.

IMHO a return to the gold standard would help fix this problem and the problem of iflation.
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opebo
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« Reply #20 on: November 10, 2004, 12:26:34 pm »
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You don't know what you're talking about. The value of the dollar relative to other currency depends on two things:
A. the goods and services that can be purchased with it
B. the availability of it, setting the prices of those goods and services

OK, why then have Europeans gotten so much richer and Americans so much poorer over the last four years?  They can buy enormously more than we can - they're just plain better off than us, and it all comes down to having a strong currency.  The dollar is toilet paper compared to the Euro.

So I take it you'll be wiping your arse with dollar bills from now on?

Well.. if I were out in the jungle, and had to go.. and all I had were dollar bills and Euros to wipe with, you can bet I'd use the dollars!

Actually, interestingly enough, here in Thailand we use little sprayers like the dishwasher sprayer hose in a typical American sink, only attached to the toilet.  Very clean!

Opebo is as ignorant of economics as he is theology.  The great European economy that you speak of is not in great shape.  Have you looked at some unemployment figures for France and Germany?  The American economy is still the most robust worldwide and will remain so as long mainland Europe has archaic labour practices.

The point was that the European economy is better for quality of life - being unemployed in Europe is generally much better than being employed at the lower echelons in the US.  Generous social safety net don't you know.  Those 'archaic labour practices' are precisely what workers want!
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shankbear
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« Reply #21 on: November 10, 2004, 01:35:00 pm »
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Opebus defunctus

Our economic engine of prosperity dwarfs that of Europe.  That so-called safety net of theirs in Europe is causing them to rethink the wisdom of such frivloity.  There have been several years of unrest in France because of long overdue reforms in their retirement system.  Strikes are rampant in all industries from railroad to airline to education.  The unemployment in France is over 10% and that outlook is not good.  The pure burden on their economy is causing the European Union to force France into several reform measures.

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opebo
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« Reply #22 on: November 10, 2004, 02:04:13 pm »
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Opebus defunctus

Our economic engine of prosperity dwarfs that of Europe.  That so-called safety net of theirs in Europe is causing them to rethink the wisdom of such frivloity.  There have been several years of unrest in France because of long overdue reforms in their retirement system.  Strikes are rampant in all industries from railroad to airline to education.  The unemployment in France is over 10% and that outlook is not good.  The pure burden on their economy is causing the European Union to force France into several reform measures.


Yes, there have been attempts in that direction, but obviously they will make life worse for the workers - more like it is here.  I'm sure if I were working-class I would prefer a 10% unemployment rate with a generous social saftey net than a 5% unemployment rate with abysmally low wages and no benefits, ala America.
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shankbear
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« Reply #23 on: November 10, 2004, 02:08:30 pm »
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What's the unemployment rate in the opebus defunctus state of Thialand?  Average wage?
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opebo
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« Reply #24 on: November 10, 2004, 02:18:37 pm »
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What's the unemployment rate in the opebus defunctus state of Thialand?  Average wage?

It is a Third World country..  and therefore much more like the US  than like Europe in terms of treatment of workers.  Unemployment is officially in the 5% or below rank most of the time, though 'underemployment' is pretty big.  Average wage - well, the per capita GDP is about $2000 or $2,500.. in Purchasing Power Parity that is about $7,000 a year.  Check out http://www.cia.gov/cia/publications/factbook/geos/th.html
As for wages of working people - the legal minimum wage is around $4 a day.  A more typical wage, like say a semi-skilled construction worker, would be $10 a day.  Interestingly, the girls in the 'nightlife' business make around $25 a day, at least until the moralists stamp out that option.
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