The assault against the U.S. dollar intensifed yesterday as the greenback slumped to historic lows against currencies as diverse as the U.K. pound and the Polish zloty amid growing conviction among investors higher returns lie beyond U.S. borders.
The U.S is goanna be finished. Thank your bushy Prez for this. We needed a breathe of fresh air anyway. Maybe America can get rebuilt after all of this destruction.
Location: On an Island in the west coast of New England
Posts: 13,133
RE: The U.S is going down the toilet
Over the past couple of years my financial advisor has moveda larger percentage of my personal portfolio into international based mutual funds. Returns have been great.
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Too busy with fishing to spend much time here.
A weakened dollar is not all bad. Like everything else it has to be understood. Obviously not many do. Alot of my companies business right now is due to the weakened dollar by companies in Europe buying stuff from us rather our competitors in Germany and France.
Like everything in life, not everybody is going to be happy, and every dog has its fleas.
A weakened dollar will make our goods cheap to those overseas, so our international companies will sell more goods abroad. Returns being higher elsewhere means our interest rates are low, which makes borrowing costs for consumers relatively low. I can see how doom and gloom this appears to those who don't understand the mechanics of a weakend dollar, but you have to see the whole picture.
BTW, the stock market is at all time highs right now, with great returns over the past several years. Surely, if Bush's policies were so bad, the economy wouldn't have been so much better than even under Clinton (inflation, employment). In fact, things would have gotten worse and worse over time.
Funny how you don't see the democrats criticizing Bush for jobs anymore, since job growth has been tremendous since the doom and gloom BS they put out there several years ago. In fact, I'm waiting to hear apologies for being so wrong about jobs.
It sad that some do not see it, here we lost one manufacturing plant last year. It doesn't look good for the one I am working at this year as we " are under the microscope " for closure as well. In this part of the state these manufacturing jobs is all that there is to hold small communities together. I currently live in an area that has some of the highest unemployment rates in the country. The weakening dollar hurts the manufacturing jobs all over the place because the shareholders do not get the return they expect. If the return is not as big as they want then see ya, it is all over. The companies are closing them down rather than sell as to not create more competition for themselves. Without these manufacturing jobs here no one would be purchasing McDonalds food so it will have a ripple affect that will hurt several small stores and ect. In the small towns built around them losing the only game in town will wipe those small towns out.
The European union was able to bring some stability to their markets. Think what a North American union would do to other world markets. Think of the money saved on building a fence between the USA and Mexico, Nike could move their shoe plants toMexico and in Canada we can finally have cheap beer again.I know overly simplistic but next year I'll have to have a $75 ($300 for the family) passport to shop at Cabella's.There has just got to be a better way.
Huh? Unemployment is very low, the stock market is booming, and that's in spite of the rift in Washington and a war--and we're going down the toilet??????
May I suggest you move to a "better" country? That way you will feel better about where you live, and so will I. Win/win situation as I see it.
Chad
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"We can have no '50-50' allegiance in this country. Either a man is an American and nothing else, or he is not an American at all."-- Theodore Roosevelt
A wise man's heart is at his right hand; but a fool's heart at his left. Ecclesiasties 10:2
The last four letters in American..........I Can
The last four letters in Republican........I Can
The last four letters in Democrats.........Rats
There is still plenty of cheap capital here in the US. Companies are issuing bonds at 6% or so, and investors are requiring less than 10% on many equity investments. Such cheap capital is agodsend for any business wanting to raise capital for building or expanding. I can see how ourhigh priced labor force can't compete incertain industries abroad with cheaper labor,but that is a function of a changing marketplace in this ever changing world.
BTW, the stock market is at all time highs right now, with great returns over the past several years. Surely, if Bush's policies were so bad, the economy wouldn't have been so much better than even under Clinton (inflation, employment). In fact, things would have gotten worse and worse over time.
When the pound goes from 1.90 to 2.00 in a week , a british investor has not done that well on the US stock market , regardless of a record high on the dow this week.
The U.S is going down the toilet
