BS: The Dollar: How Low Will it Go???

Subject: BS: The Dollar: How Low Will it Go???
From: Bobert
Date: 05 Dec 03 - 08:52 PM

Well danged, I ain't no e'communist 'er nuthin' but seems that one way to fool folks into thinkin' that yer in an economic recovery is to allow yer danged cuuency do be devalued... Ahhhh, that means that folks that got lots of yer currency are willin' to spend 'em like crazy while they have any worth to 'em at all... (Think Confederate money here...). Yeah, American stufdf is now a bargain, right? Well yeah, this week....

.... but next? Like I said, I ain't no e'communist but a 44% devaluation of the dollar against the euro since Mr. Bush took office is, IMO, reason for alarm. There is a point where investors, domestic and abroad just say "Screw these bucks! They're worthless" Hmmmmmm?

So this is a recovery? I don't think so... Recoveries are based on growth and not manipulation of currencies... This is a *smoke and mirrors* recovery as far as I can see.

Any other armchiar e'communists out there see it differently?

Bobert

Subject: RE: BS: The Dollar: How Low Will it Go???
From: GUEST
Date: 05 Dec 03 - 09:48 PM

You are on to something thar. News here is that if we had any industries left in the US then we should be selling more stuff because to those pesky rich Europeans it is bargain time.

But no, all we had left was Software and high tech. Now the former is gone via optic fibre to India - yup there are long lines of unemployable SW engineers here - and the other stuff is rapidly being out dated by Chinese and other competitors' imventions.

We still have some auto makers but these are fast becomming lame ducks- even Ford is now playing second fiddle to the likes of Toyota.

The US is a reshipper in a world where nobody wants the cheap crap that we import from China - well MalWart imports from China.

Word is MalWart is busy buying politicians in Europe - ya know Blair, Berlusconi, Chirac, Anzar, Fischer .. others who own little rich cutie pie European staaaiiiattes .. When fully owned the 'resources' will close the local hardware and Malwart will come to your aid. And boy oh boy are you going to love that cheapo Chinese plastic junk - like we do.

Some of these good people can't forget Bubbajaws threats and Footinmouth Rummie threatening them for playing Ceasar in the shower and yelling things like 'now we have a union dem yanks will sing a different song... strike strike strike ...'

Looks to me like two dollars for a euro before the election next year.

Then it will be 'Howard Dean' if you pulease!

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Bobert
Date: 05 Dec 03 - 10:27 PM

Well, GUEST, at the rate that the dollar is falling, you may be right. It was at 83 cents in 2000 when Bush was sworn in. Today it's at $1.21 with no end in sight as it spins out of control...

One thing is for sure, America's working class ain't seen nuthin' yet when it comes to Boss Hogg's plan to wipe out the middle class in America... and reverse 70 years of labor organizin'. Yeah, welcome the the latest Third World nation: the US of A...

I would strongly suggest to all my Mudcat friends who are employed. Get the heck out of debt and own a danged house, 'er trailer, 'er tee-pee so as to not get caught in what's to come... It ain't gonna be purdy...

For those Catters who can't get there, be prepared for massive national strikes and civil disobeydiance, ahh, as participants....

You don't think this is happening? Guess again. Way too much stuff going down.... Yeah, Bush can devalue the dollar but so much before the world says, "Hey, screw you and yer SUV's (owned by the banks), yer junk is junk and we ain't buyin'".... Think it can't happen? No one would have thought that the dollar could be devalued 44% in less tha 3 years!!!!!!!......................

Bobert

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Ebbie
Date: 05 Dec 03 - 11:22 PM

Bobert, I was talking on the phone to an Oklahoma friend/acquaintance the other day and he talked about it. That's the first I even realized that the Euro had become strong. I knew it had a rocky start.

Living where he does, I kind of expected my friend would be conservative- and maybe he is- but he is definitely worried. He's a retired Air Force man and pretty much in touch with reality. He says we're getting ourselves into a jam that no one can see or foretell the way out of.

Any ideas?

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Donuel
Date: 05 Dec 03 - 11:22 PM

6 months ago Soros converted his US dollars to Euros.
Thats one way to make more dollars.

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Peace
Date: 06 Dec 03 - 12:28 AM

Somebody once said, "What this country needs is a good five cent cigar. Fact is, we got one. The trouble is, it costs a quarter. What this country really needs is a good five cent nickel." (Sounds like Will Rogers: does anyone know for sure?)

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Hrothgar
Date: 06 Dec 03 - 01:04 AM

Or was it, "What this country needs is a good five cents"?

Samer difference, i suppose.....

Subject: RE: BS: The Dollar: How Low Will it Go???
From: rangeroger
Date: 06 Dec 03 - 02:13 AM

But Bobert, I know the economy is getting better. As a matter of fact, I read in todays paper that West Virginia finally got its' own Starbucks.

rr

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Little Hawk
Date: 06 Dec 03 - 09:02 AM

I sure hope the US dollar does not get any lower. All my customers pay me in US dollars. 6 months ago, the US dollar was worth around $1.55 Canadian...it is now worth $1.29 Canadian. Figure it out.

So, my real profits are down by about 15% or somewhere around there. The Canadian dollar has not been this high against the US dollar in many, many years.

This is good for Canadians if they want to buy from the USA, bad if they want to sell to the USA (as I do).

So I am buying a lot more hobby items from the USA now (my way of having fun), cos the price is right. Likewise, many other people are buying more stuff from the USA these days. This benefits the American economy, at least in the shortrun. What it does in the longrun, I'm not sure.

I doubt that the Bush administration cares what it does in the long run, as long as the US economy looks good going into the next presidential election.

It's a game, folks. The System wins, you lose.

- LH

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Cluin
Date: 06 Dec 03 - 09:21 AM

I agree with you, LH. Got a roll of about $US 3500 myself, waiting for the American buck to climb back up. And Christmas is coming fast. May have to take the bite.

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Little Hawk
Date: 06 Dec 03 - 06:54 PM

Yeah. Me too. Well, gold is going up if you have any. One thing you can say for sure about any of these financial things: it's temporary.

- LH

Subject: RE: BS: The Dollar: How Low Will it Go???
From: The Fooles Troupe
Date: 06 Dec 03 - 07:15 PM

Many years ago the US dollar was about par with the Aus Pound. Then one pound became two Australian dollars - and you got about aus $1.60 - 1-80 from memory. the it gradually slipped to about 85 cents...

The Aus Dollar was about 85 cents to the US dollar several years ago. When it went down I stopped buying imported goodies (not food - don't have a choice there!). It went down to 40 cents, now is up to about 72-3. When it get near the 80 cents mark - I might consider US pleasurable purchases again. Of course this assumes I will have a future income...

The US owned global corporations first stuffed up other countries economies, then moved themselves offshore for cheaper labour, thus stuffing up the US economy. By careful shuffling they can pay very low taxes overall, as well as getting subsidies too. I have a friend who is a manufacturing jeweller. It is cheaper by about four times to send uncut stones to Sri Lanka (subsidies, and lower wages, cost of living) for cutting (good quality) rather than have them cut in Australia. Even after two lots of freight halfway round the world - it's still cheaper... and the Aussie jobs are exported too...

Robin

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Escamillo
Date: 07 Dec 03 - 06:47 AM

As a consolation you may spend your vacations in Argentina. Lakes, mountains, ski, whales show, jungle, beaches, green fields and all the art and culture, for 1/4 of the U.S. prices. After having sustained a "1 to 1" ratio between the US dollar and the PESO for ten years, a historic devaluation brought the peso to 0.33 of a dollar in 2002. (And prices were already lower than U.S.)

Excelent dinner for 5.00, good hotel for 20.00, leather jacket for 90.00, fine shoes for 40.00, a luthier-made guitar for 600.00, a complete super fine saddle for 500.00. And if you prefer to stay longer, a good 2-room apartment for 130.00/month. Ah, and a ticket for the Colón Opera House to see me (in the choir) for 10.00.

Tourists are frantically buying everything buyable and eating everything edible (and drinking everything that comes in bottles). Europeans even take FRESH MEAT with them (will it pass through their customs?)

Un abrazo
Andrés (in Buenos Aires)

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Little Hawk
Date: 07 Dec 03 - 10:40 AM

Very interesting, Andres. Argentina sounds like a good place to visit these days.

- LH

Subject: RE: BS: The Dollar: How Low Will it Go???
From: GUEST,pdq
Date: 07 Dec 03 - 11:35 AM

There is some inconsistency here. Several complaints that the dollar is too weak from Canadians. Complaints that it is too strong from Australians and Argentinians. Are you sure that doesn't make it just about right???

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Cluin
Date: 07 Dec 03 - 04:54 PM

Nope.
I think it lands the whole issue smack in the "Who gives a red, white an' blue shit what a buncha dam furriners think?" category.
;)

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Escamillo
Date: 08 Dec 03 - 05:18 AM

PDQ, in fact if we had the same business volume with the U.S. as Canada has, the weakness of the dollar would be very bad, because US products would compete with our exports, and even with our local products. But for Argentina, where the volume is not so large, and the difference in currency value is so significant, our exports are strongly encouraged and compensate very well the small increment of imports from the U.S.

European products are even more expensive for us, but exports to Europe have grown 30% in one year. At this time we are exporting brooms to Canada, honey to Germany, agricultural machinery to Brazil, and a nuclear reactor to Australia. And lots of tango CDs to the world. Come and do business.

Un abrazo
Andrés

Subject: RE: BS: The Dollar: How Low Will it Go???
From: sledge
Date: 08 Dec 03 - 06:17 AM

The reactor should be worth a fair bit I suppose, just tell me its not Russian designed.

Sledge

Subject: RE: BS: The Dollar: How Low Will it Go???
From: ced2
Date: 08 Dec 03 - 12:07 PM

However low it gets it can't possibly get as low as Bush!

Subject: RE: BS: The Dollar: How Low Will it Go???
From: GUEST,pdq
Date: 08 Dec 03 - 01:29 PM

Andres...than you are not really lodging a complaint. Low value of your currency makes your goods attractive. Not just in the US but around the world. It is most obviously not fun when an Argentinian tries to buy a new American car or SUV at 0.33 exchange rate. That makes a $30,000 car look like a $90,000 one, in a country with limited income to begin with. Otherwise, mostly good comes from it.

Subject: RE: BS: The Dollar: How Low Will it Go???
From: The Fooles Troupe
Date: 08 Dec 03 - 11:09 PM

Escamillo,

have you let the cat out of the bag?

what's this about exporting a nuclear reactor to Australlia? This is news to most Australians, I'm sure... What country did you say you were in?

Robin

Subject: RE: BS: The Dollar: How Low Will it Go???
From: Escamillo
Date: 09 Dec 03 - 12:57 AM

Yep, the Argentinian company INVAP (no, no Russian design) is selling this research reactor to Australia, (similar to those previously sold to Algeria and Egypt), you can see the announcement of the Australian Ministry of Industries, Science and Resources at:
http://www.ansto.gov.au/info/press/minchin_j2000.html

and the Website of the INVAP at
http://www.invap.net/nuclear/rrrp/intro-e.html

Now the problem is, that there are plans to process the nuclear garbage in Argentina, and there is a strong opposition here, but they seem to be reaching some agreement. (Re-export the garbage to Paraguay?)

PDQ, that's correct, but there are Fords and Peugeots and Toyotas and everything manufactured in Argentina and you can buy an excellent Focus for 10,000 ! If I could organize and discipline myself as a programmer, I could sell software to the U.S. market and become (locally) rich. (sigh)
Un abrazo,
Andrés

Subject: RE: BS: The Dollar: How Low Will it Go???
From: The Fooles Troupe
Date: 09 Dec 03 - 01:02 AM

The Aussie Courts just allowed the Nuclear dump site in Australia the other day - but it is still subject to one final level of appeal.

Robin