Co-Founder, Retired Admin
Posted On:12/08/2003 9:39am
Style: BJJ, Karate,
"The dollar has fallen to new lows, battered by low interest rates and concerns about growing US deficits."
The Euro is now trading at $1.2210, basically creaming us. With our out of control deficit and borrowing costs at their lowest in about 50 years, ivestors are giving the U.S. the bird.
Heres some scary shiit: It also dropped against the Thai, Taiwanese, Singaporean and South Korean currencies, holding its own only in Indonesia and the Philippines. When would you EVER imagine that would happen? Only when a guy like GWB is in office fukking EVERYTHING up, thats when lol.
Worker productivity is WAY up and NO new jobs are coming. When we see growth its mostly for companies that employ people in China so the COMPANIES get money but Americans see jack shiit.
Heres a complete chart of the dollars rise and fall against 24 other currencies:
"All warfare is based on deception." -Sun Tzu, ca. 400BC
Reverse punch Kiaii!!!
Posted On:12/08/2003 9:44am
"Worker productivity is WAY up and NO new jobs are coming. When we see growth its mostly for companies that employ people in China so the COMPANIES get money but Americans see jack shiit."
Unemployment rate drops to 6% as number of jobs surges
WASHINGTON (AP) — The economy has created nearly 300,000 new US jobs in the past three months after a half-year drought, pushing unemployment down to 6% in October and leaving little doubt that the jobs market is bouncing back.
The Labor Department reported Friday that payrolls grew by 126,000 jobs last month, many more than economists had predicted. That followed a revised 125,000 new jobs in September, more than double what initially was reported. U.S. companies added 35,000 to their payrolls in August.
The unemployment rate fell to 6.0%, the lowest since April, from 6.1% in September.
Peter man, I like YOU. But thank GOD we don't live by what YOU have to say.
Posted On:12/08/2003 9:46am
Style: Taiji quan yang style ("cheng fu" and "lu chan"
Peedee can you guess some rea
Posted On:12/08/2003 9:47am
sons for that ? (sorry I can't use comps)
Such as thou art, sometime was I.
Posted On:12/08/2003 10:21am
Style: Brazilian Jiujitsu
Well Peedee, there's a flipside to currency devaluation, and that is that American exports become more attractive. Strategic currency devaluation is a method employed by many nations to improve the market for their products.
Recently, Bush has done a bit of complaining that Chinese currency is artificially undervalued vis a vis the dollar. Changing that would change the exchange rate of the two currencies; the yuan would increase vis a vis the dollar which would make Chinese goods more expensive in the world market in relation to American goods.
Low interest rates have reduced the demand for American currency being held as savings, but the absolute demand for American currency probably hasn't changed that much. Typical monetary rules just don't apply to the United States because the US dollar is a like a currency franca.
It also dropped against the Thai, Taiwanese, Singaporean and South Korean currencies, holding its own only in Indonesia and the Philippines.
Come on. These currencies have been unusually depressed since the early 90's, the beginning of the widespread Asian financial crisis. Being shocked and frightened at appreciation of the Thai bhat is kind of silly, unless you're an Australian tourist.
What's funny is that loose monetary policy has typically been a Democratic priority, a little bit of inflation has the long-term effect of reducing people's absolute debt. You know, like if you owe someone $100, in the long run inflation makes that $100 seem like a lot less. This is classically bad for creditors, who are typically the Republican constituency.
I mean, it's just more complicated than, "Our money is losing the valuation race." Know what I mean?
Where's Vapour? He's an economist.
Normally, I'd say I was grappling, but I was taking down and mounting people, and JFS has kindly informed us that takedowns and being mounted are neither grappling nor anti grappling, so I'm not sure what the **** I was doing. Maybe schroedinger's sparring, where it's neither grappling nor anti-grappling until somoene observes it and collapses the waveform, and then I RNC a cat to death.----fatherdog
Posted On:12/08/2003 10:25am
Saw an show about...Oh 15 years ago now.... It talked about one of the biggest threats economically to Western markets was if the Chinese and Japanese ever really got together... Kind of like what the Europeans are doing now except because of the potential market it would be very powerful..... China is such a huge market.... Japan is industrially very compitent.... ummmhhh.....
Posted On:12/08/2003 10:33am
Well, do we believe in a free market? Or not?
Posted On:12/08/2003 10:36am
Whether we do or not.... I think nature does....Its hard to fight mother nature....Free markets breed innovation ( Yes I know it also breeds graft and corruption, but well....).... As a side note, who do you think has done more for the world Mother Teresa or Bill Gates.... That is an interesting discussion....
Posted On:12/08/2003 10:42am
I'm just trying to make the point that Americans who are worried about the "market threat" of East Asia or whereever are beign ridiculous.
Americans couldn't afford more than hlaf the **** they own if it weren't for competitive economies around the world.
Look at the typical suburban American:
SUV: imported parts and outsourced labor
Clothing: cheaper textiles and outsourced labor
Electronics: Japanese innovation foreign made parts and outsourced labor
I mean really, economic threat? The only economic threat is that we're going to close up our markets so that steel workers and people in manufacturing can make 25 dollars an hour.
Go America right? Except...whoa waitaminute! Now my "Gap" jeans cost $200? And my DVD player costs $400?!
Bring on the East Asian economies baby!
Posted On:12/08/2003 11:21am
Style: Tang Soo Do
Hey at least you can still get 1435221 Turkish Lira for a Dollar
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