Dollar Falling, Oil up in reaction to Bush

[opebo]

Just as I predicted.  Or rather, I predicted a Kerry victory would cause a dollar rise, and a Bush victory a dollar fall: 

http://biz.yahoo.com/rb/041104/markets_forex_1.html

Keep in mind my friends, Americans are now worth only about 62.5% of what they were when Clinton left office, thanks to Bush's debasement of our currency.

[Erc]

I know diddly about macroeconomics, but other than a prestige thing, is there actually anything bad that results from the dollar falling (assuming no domestic inflation)?

[tinman64]

I'll tell you one bad thing about the falling dollar.  Try spending it overseas.

I went to England over the late summer.  The dollar was doing terribly against the pound; two dollars bought about a pound.  A meal at a fast food joint like Burger King would cost about $10-12 American.  Hotels that were 65 pounds a night were about $140 American. 

My dollar bought me a lot more in England when I visited there two years ago than it does now. 

[angus]

I know diddly about macroeconomics, but other than a prestige thing, is there actually anything bad that results from the dollar falling (assuming no domestic inflation)?

so, a neutron walks into a bar, and the neutron asks the bartender, "How much for a beer?"

The bartender replies, "For you, no charge."


This isn't rocket science, hoss.  The market is a very volatile, particularly during times of uncertainty.  Oil is up, meaning you had better hope your fund manager hedged a bit and predicted a Bush victory.  On the off-chance mine didn't, I called him and made sure he moved some assets around a bit.

The dollar will continue to fall, and it isn't necessarily a bad thing.  It may even force China into reckoning with their own vis-a-vis the US dollar. 

Buy Dollars!!!  It won't be this low forever.

[KEmperor]

Now you're blaming Bush for inflation?  Wow.

[Acastus]

There is no crisis here.  A falling dollar makes our goods and services cheaper for the rest of the world to buy and more expensive for us to buy theirs.  In the short term, therefore, it helps to reduce the trade deficit.  

Further, a falling dollar is not all that inflationary unless there is no local source of supply for the foreign goods or services or there is no substitute.  This doesn't apply to some commodities like oil, however, because oil is traded in dollars anyway.

As for the ridiculous charge that Bush has single handedly debased our currency, we should give that the consideration it deserves.  None.

[Reds4]

Oil is down about 1.50 today.

[Redefeatbush04]

Oil is a supply and demand thing and cannot be blamed on President Bush. The demand has increased greatly yet the supply has at best remained the same. OF COURSE THE PRICES WILL INCREASE. I have no problem with this. We will pay 20 dollars a gallon for water, which we can get for free, and yet we whine when we have to pay 2 dollars a gallon for a natural resource which is increasingly difficult to find. Bush went to war to increase our share of the world's oil. A lot of conservatives bring up the point: it was either war or domestic drilling and most liberals oppose both. Their is another option, and one which neither side has given much thought to: Alternative Energy. If we put as much money into wind/water energy, and into research for hydrogen powered cars as we put into all of our wars, we would not have to worry as much about high oil prices. The best way to make the prices stable is to decrease demand, not to increase supply. Rather than drive an 8MPG SUV drive a 30 MPG car, or perhaps even a hybrid or electric powered car. Although it takes oil to generate the electricity which the car runs on, the amount of oil consumed is substancially less. Rather than drive seperate cars, carpool. Don't run your heat in the house unless you have to. We have what, 1% of the world's population but we consume, but we are responcible for at least 1/4 of trhe world's oil consumption. Bush is not responcible. We are, the american people.

[Angel of Death]

Peak Oil does not care who is President.

[opebo]

The falling dollar quite literally makes Americans, and America, worth less.  We are a lesser country because the GOP has debased the currency.

[A18]

I'm impressed. A post that isn't just intolerant, anti-Christian trash. It's anti-Republican trash with no substance whatsoever, but that's okay. You're making progress.

[King]

Oil up? CNN said oil prices fell $2 today.

[opebo]

I'm impressed. A post that isn't just intolerant, anti-Christian trash. It's anti-Republican trash with no substance whatsoever, but that's okay. You're making progress.

I blame the christians for our economic decline.  Impoverishment is the inevitable result of irrationality.

[A18]

I never thought I'd say this about Opebo, but honestly, someone ban this troll. His posts have become complete trash.

[patrick1]

Are we upset that the dollar doesn't get you as much in the Pattaya red light district anymore?

[Beefalow and the Consumer]

Peak Oil does not care who is President.

Peak Oil also seems to be constantly revising its schedule.

1980... no, 1988... no, I tell a lie, 1995... make that 2003... no, wait...

Carribbean oil.  Albertan shale oil.  Clean coal+electric cars.  Biomass fuel.

We'll live.

[opebo]

Are we upset that the dollar doesn't get you as much in the Pattaya red light district anymore?

Actually, my own economic situation is very.. adjustable.  And the dollar has held up well against its fellow Third World currencies.  It is against its economic betters the US is taking a beating.

[MN-Troy]

Just as I predicted.  Or rather, I predicted a Kerry victory would cause a dollar rise, and a Bush victory a dollar fall: 

http://biz.yahoo.com/rb/041104/markets_forex_1.html

Keep in mind my friends, Americans are now worth only about 62.5% of what they were when Clinton left office, thanks to Bush's debasement of our currency.

RUN FOR THE HILLS!

Only if the beloved John Kerry were elected president would he prevent this drastic decline by the decline by the U.S. dollar. Not to be facetious, but unless a Kerry Administration adopted a fixed exchange rate policy (which on to itself would cause more problems) the dollar would have declined against the Euro, regardless who was in office.

The decline of the dollar against the Euro was inevitable as the dollar was overvalued. The U.S. dollar is simply adjusting, and compared to the severe fluctuations incurred between the dollar and the German Mark in the past, this dollar adjustment has been mild.

[??????????]

Yes, the economy is going in the tank because Bush was re-elected. (Checks the Dow) Opps, never mind its up over 278 points in the last two days.

[Swing low, sweet chariot. Comin' for to carry me home.]

Yes, the economy is going in the tank because Bush was re-elected. (Checks the Dow) Opps, never mind its up over 278 points in the last two days.

Please, stop bringing financial facts into this thread.  Opedo is simply deciding whether or not to come out of the closet, and he is dealing with his shame by attacking followers of Christ Jesus.

[opebo]

Yes, the economy is going in the tank because Bush was re-elected. (Checks the Dow) Opps, never mind its up over 278 points in the last two days.

The Dow at 10,000 at .8 dollars to the Euro is worth a lot more than the Dow at 10,000 at 1.28 dollars to the Euro.  Face it, what matters is one's relative economic position, and Americans is getting much, much worse.

[opebo]

Yes, the economy is going in the tank because Bush was re-elected. (Checks the Dow) Opps, never mind its up over 278 points in the last two days.

Please, stop bringing financial facts into this thread.  Opedo is simply deciding whether or not to come out of the closet, and he is dealing with his shame by attacking followers of Christ Jesus.

Shame?  I proudly proclaim I've tried just about everything once, or twice, and no doubt will again.  No closet here.  Personally I don't see why rubbing one particularly set of sensitive bits as opposed to another set has any importance whatsoever.  Just passing the time away, you know.

But I do find your obsession with my sex life a bit creepy.  I don't pry into what sort of acts you and your lady wife may or may not practice within the bounds of 'holy matrimony'.

[Swing low, sweet chariot. Comin' for to carry me home.]

Please, stop bringing financial facts into this thread.  Opedo is simply deciding whether or not to come out of the closet, and he is dealing with his shame by attacking followers of Christ Jesus.

Shame?  I proudly proclaim I've tried just about everything once, or twice, and no doubt will again.  No closet here.  Personally I don't see why rubbing one particularly set of sensitive bits as opposed to another set has any importance whatsoever.  Just passing the time away, you know.

But I do find your obsession with my sex life a bit creepy.  I don't pry into what sort of acts you and your lady wife may or may not practice within the bounds of 'holy matrimony'.

I wasn't aware of your sexual orientation.  But I knew your open hatred of Christ was the result of something going on in your life. 

The reaction of your flesh to Christ is natural, but as Jesus asked Paul after slapping him off his horse, "Why do you persecute me? It is hard for you to kick against the goads.'

[opebo]

Please, stop bringing financial facts into this thread.  Opedo is simply deciding whether or not to come out of the closet, and he is dealing with his shame by attacking followers of Christ Jesus.

Shame?  I proudly proclaim I've tried just about everything once, or twice, and no doubt will again.  No closet here.  Personally I don't see why rubbing one particularly set of sensitive bits as opposed to another set has any importance whatsoever.  Just passing the time away, you know.

But I do find your obsession with my sex life a bit creepy.  I don't pry into what sort of acts you and your lady wife may or may not practice within the bounds of 'holy matrimony'.

I wasn't aware of your sexual orientation.  But I knew your open hatred of Christ was the result of something going on in your life. 

The reaction of your flesh to Christ is natural, but as Jesus asked Paul after slapping him off his horse, "Why do you persecute me? It is hard for you to kick against the goads.'

I hate people, not fictional characters.   But I am surprised you people would write a slapping part for your favorite character..  seems.. out of characer.

[Erc]

The falling dollar quite literally makes Americans, and America, worth less.  We are a lesser country because the GOP has debased the currency.

So our national prestige is wounded.  Oh, no.

I think timan's little anecdote helps prove the point that the weak dollar is actually good for the US economy in the short run--if it's harder for him to spend things overseas, it's easier for other people to buy stuff here...


Wasn't opebo a halfway-sane poster before November 2nd?