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Free_Willy
 
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Quote:
Originally Posted by mike27 View Post
I am not obligated to relieve you of your ignorance.

The fact is, your posts (along with those of ry_goody and a handful others here) are generally such a concentration of stupidity that to enumerate and refute all the falsehoods therein would require far more time and effort than I care to expend.

The difference between you and I mike, are that I in no way say I am an authority on the truth of anything, and you postion and tout yourself as a judge of what is and what is not true solely based on sentiment alone.
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Old 11-04-2007, 05:40 PM Free_Willy is offline  
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wr3kt
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http://www.census.gov/indicator/www/ustrade.html

Value of dollar goes down, exports increase, economy rebounds, dollar increases in value, exports decrease, value of dollar goes down...infinity.
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Old 11-04-2007, 06:30 PM wr3kt is offline  
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Renork
 
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http://news.yahoo.com/s/uc/20071102/...pbux/op_334275

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Sinking Currency, Sinking Country
Fri Nov 2, 3:00 AM ET

The euro, worth 83 cents in the early George W. Bush years, is at $1.45.
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The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century.

Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800.

Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years?

Nope. The dollar has plummeted in value, more so in Bush's term than during any comparable period of U.S. history. Indeed, Bush is presiding over a worldwide abandonment of the American dollar.

Is it all Bush's fault? Nope.

The dollar is plunging because America has been living beyond her means, borrowing $2 billion a day from foreign nations to maintain her standard of living and to sustain the American Imperium.

The prime suspect in the death of the dollar is the massive trade deficits America has run up, some $5 trillion in total since the passage of NAFTA and the creation of the World Trade Organization in 1994.

In 2006, that U.S. trade deficit hit $764 billion. The current account deficit, which includes the trade deficit, plus the net outflow of interest, dividends, capital gains and foreign aid, hit $857 billion, 6.5 percent of GDP. As some of us have been writing for years, such deficits are unsustainable and must lead to a decline of the dollar.

A sinking dollar means a poorer nation, and a sinking currency has historically been the mark of a sinking country. And a superpower with a sinking currency is a contradiction in terms.

What does this mean for America and Americans?

As nations realize that the dollars they are being paid for their products cannot buy in the world markets what they once did, they will demand more dollars for those goods. This will mean rising prices for the imports on which America has become more dependent than we have been since before the Civil War.

U.S. tourists traveling to the countries whence their ancestors came will find that the money they saved up does not go as far as they thought.

U.S. soldiers stationed overseas will find the cost of rent, gasoline, food, clothing and dining out takes larger and larger bites out of their paychecks. The people those U.S. soldiers defend will be demanding more and more of their money.

U.S. diplomats stationed overseas, students and businessmen are already facing tougher times.

U.S. foreign aid does not go as far as it did. And there is an element of comedy in seeing the United States going to Beijing to borrow dollars, thus putting our children deeper in debt, to send still more foreign aid to African despots who routinely vote the Chinese line at the United Nations.

The Chinese, whose currency is tied to the dollar, and Japan will continue, as long as they can, to keep their currencies low against the dollar. For the Asians think long term, and their goals are strategic.

China — growing at 10 percent a year for two decades and now growing at close to 12 percent — is willing to take losses in the value of the dollars it holds to keep the U.S. technology, factories and jobs pouring in, as their exports capture America's markets from U.S. producers.

The Japanese will take some loss in the value of their dollar hoard to take down Chrysler, Ford and GM, and capture the U.S. auto market as they captured our TV, camera and computer chip markets.

Asians understand that what is important is not who consumes the apples, but who owns the orchard.

Other nations that have kept cash reserves in U.S. Treasury bonds and T-bills are watching the value of these assets sink. Not fools, they will begin, as many already have, to divest and diversify, taking in fewer dollars and more euros and yen. As more nations abandon the dollar, its decline will continue.

The oil-producing and exporting nations, with trade surpluses, like China, have also begun to take the stash of dollars they have and stuff them into sovereign wealth funds, and use these immense and growing funds to buy up real assets in the United States — investment banks and American companies.

Nor is there any end in sight to the sinking of the dollar. For, as foreigners demand more dollars for the oil and goods they sell us, the trade deficit will not fall. And as the U.S. government prints more and more dollars to cover the budget deficits that stretch out — with the coming retirement of the baby boomers — all the way to the horizon, the value of the dollar will fall. And as Ben Bernanke at the Fed tries to keep interest rates low, to keep the U.S. economy from sputtering out in the credit crunch, the value of the dollar will fall.

The chickens of free trade are coming home to roost.
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Last edited by Renork; 11-04-2007 at 07:22 PM..
Old 11-04-2007, 07:18 PM Renork is offline  
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ry_goody
 
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Quote:
Originally Posted by mike27 View Post
I am not obligated to relieve you of your ignorance.

The fact is, your posts (along with those of ry_goody and a handful others here) are generally such a concentration of stupidity that to enumerate and refute all the falsehoods therein would require far more time and effort than I care to expend.

ill still let you live on my commune once your materialistic neighborhood implodes right around 2012

but im going to have to reprogram you to let you on, most likely involving some LSD, unless Micheal Persinger can get his act together and get his mystical state inducing helmet functioning better... you know dont want you running amuck in my utopia with your 'me me me, im mike, I do this'



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Old 11-06-2007, 03:56 AM ry_goody is offline  
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ry_goody
 
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Quote:
Originally Posted by wr3kt View Post
http://www.census.gov/indicator/www/ustrade.html

Value of dollar goes down, exports increase, economy rebounds, dollar increases in value, exports decrease, value of dollar goes down...infinity.

Please bring to my attention one governmental institution of a mass civilization that has kept this going for more than 500 years

infinite is just... incredibly finite
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Old 11-06-2007, 03:58 AM ry_goody is offline  
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There are stories in media over here that China is dumping vast amounts of US Bonds. Dollar fell to a new all time low of 1.48 / 0.68 to Euro. I must say I'm concerned that the Dollar is falling this rapidly for such an extended period of time.


Yahoo euro vs usd
Old 11-07-2007, 01:49 PM acknot is offline  
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Free_Willy
 
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Quote:
Originally Posted by ry_goody View Post
ill still let you live on my commune once your materialistic neighborhood implodes right around 2012

Oh boy bro, take cover, I learned long ago not to even come close to enteratining that genre here (even if to you and I its obvious the evidence is quite overwhelming that theres alot to it), these people have shitfits over hangnails, theyll freak hard when you bring 12212012 up.


Quote:
but im going to have to reprogram you to let you on, most likely involving some LSD, unless Micheal Persinger can get his act together and get his mystical state inducing helmet functioning better... you know dont want you running amuck in my utopia with your 'me me me, im mike, I do this'




hehe
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--- Brain Gremlin in the movie Gremlins II: The New Batch.

Discordian Resistance Front, Co. A, Semi-Conscious Liberation Army.

Last edited by Free_Willy; 11-07-2007 at 08:39 PM..
Old 11-07-2007, 02:41 PM Free_Willy is offline  
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#82  

Fear Night
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I really feel like this country is going to hell in a handbasket because of our monetary policy. If Ron Paul isn't elected to save us it will be too late.
Old 11-07-2007, 08:30 PM Fear Night is offline  
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wr3kt
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Quote:
Originally Posted by ry_goody View Post
Please bring to my attention one governmental institution of a mass civilization that has kept this going for more than 500 years

infinite is just... incredibly finite

Rome was pretty close, all things considered.
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Old 11-07-2007, 08:52 PM wr3kt is offline  
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acknot
 
Quote from the head of the national bank at a seminar last night: "If the USD stabilizes somewhere above 0.60, we might avoid a crash and full economic recession. Given that the decline is becoming steeper, I think were beyond probability and running on faith right now."

This is just great, I work for companies getting paid in USD :duh:
Old 11-08-2007, 12:00 AM acknot is offline  
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gwvg
 
Quote:
Originally Posted by ry_goody View Post
Please bring to my attention one governmental institution of a mass civilization that has kept this going for more than 500 years

infinite is just... incredibly finite

You're missing the point here. A strong dollar is just a bad as a weak dollar, it all depends on how far the valuation is from the desired equilibrium. Not to mention, all the people on here who complained about foreign oil dependence and outsourcing should be throwing a party. The U.S. financial markets just took a potentially trillion dollar hit. It has to play out somewhere. Would you rather pay a higher bill for your electricity, or rather would you, and hundreds of thousands of others lose their jobs?
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Last edited by gwvg; 11-08-2007 at 06:52 AM..
Old 11-08-2007, 06:49 AM gwvg is offline  
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mgictg1
 
Quote:
Originally Posted by ry_goody View Post
ron paul lets everyone interview him
http://www.youtube.com/watch?v=nQi7PaYKqTU

Old 11-08-2007, 09:06 AM mgictg1 is offline  
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Trachei
 
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Quote:
Originally Posted by gwvg View Post
You're missing the point here. A strong dollar is just a bad as a weak dollar, it all depends on how far the valuation is from the desired equilibrium. Not to mention, all the people on here who complained about foreign oil dependence and outsourcing should be throwing a party. The U.S. financial markets just took a potentially trillion dollar hit. It has to play out somewhere. Would you rather pay a higher bill for your electricity, or rather would you, and hundreds of thousands of others lose their jobs?

so you're asking, would I rather have run away inflation and a job or the POSSIBILITY of losing my job from higher interest rates? I would 100% have my job because of higher interest rates.

A weak dollar is much worse than a strong dollar. You just don't get it, our debt is financed by other countries who take our make believe dollars. They take them because they get interest, but when these dollars lose this much value they no longer want to finance our debt. That means we lose, game over, don't pass go. Increasing our exports by 10% wont save us from that, nothing can save a currency from a confidence crisis except the return of confidence and there is none of that.
Old 11-08-2007, 07:00 PM Trachei is offline  
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ry_goody
 
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Quote:
Originally Posted by gwvg View Post
You're missing the point here. A strong dollar is just a bad as a weak dollar, it all depends on how far the valuation is from the desired equilibrium. Not to mention, all the people on here who complained about foreign oil dependence and outsourcing should be throwing a party. The U.S. financial markets just took a potentially trillion dollar hit. It has to play out somewhere. Would you rather pay a higher bill for your electricity, or rather would you, and hundreds of thousands of others lose their jobs?

your acting like a I have a choice in this process?
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Old 11-08-2007, 07:38 PM ry_goody is offline  
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ry_goody
 
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Quote:
Originally Posted by wr3kt View Post
Rome was pretty close, all things considered.

yes

but not quite...

not quite...
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Old 11-08-2007, 07:38 PM ry_goody is offline  
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