America Dollar vs. Euro/Yen/lb etc,.

[QwikFox]

I have heard of all this crap going on but the stock index is at the highest. What will it take for the Dollar to be back at the top? How long has it been this way? As far as I can remember, our money use to be the most valuable currency in the world. :confused:

--> Dow closes at highest level since June 13, 2001 (http://www.msnbc.msn.com/id/3683270/)

--> Dollar hits record low against euro (http://www.msnbc.msn.com/id/6749594/)

[Toolman]

Dollar will be worth more when we stop sending our jobs and money to other countries..


We need the bring back the days where a man with out a college education could be the sole bread winner and still own a house and have kids..

[01WhiteCobra]

We need the bring back the days where a man with out a college education could be the sole bread winner and still own a house and have kids..

I actually know quite a few that do.

[mikeb]

The weak dollar is a reflection of the high US debt level as seen by other countries.

A huge amount of US debt is held by other countries.

The dollar will begin to rise when (if?) fiscal responsibility is ever addressed by washington.

[Toolman]

with Bush in office that will never happen.. not that a democrat would do it better.. but Bush is making it worse..

[mikeb]

The congress & senate may force bush to tighten spending. The movement is already underway, and from some accounts bush also sees the necessity for cutting spending.

[QwikFox]

with tax cuts, doesnt that put us in more debt? damn this is a never ending issue :confused:

[Toolman]

tax cuts and a war we cant win.. atleast gas isnt 5 dollars a gallon here..

[mikeb]

with tax cuts, doesnt that put us in more debt? damn this is a never ending issue :confused:

If the tax cuts stimulate the economy then a strenghtening economy would help with the debt - if washington can keep from spending the extra tax money that would be collected.

[Toolman]

giving a tax cut to the rich who already have enough money to spend doesnt do shit.. give the tax cut to us normal people and you will see a better economy..

[Grant]

We need the bring back the days where a man with out a college education could be the sole bread winner and still own a house and have kids..


hmmm

[mikeb]

giving a tax cut to the rich who already have enough money to spend doesnt do shit.. give the tax cut to us normal people and you will see a better economy..

I'm not rich, and I got a tax cut :confused:

[Toolman]

I ment we should have gotten a bigger tax cut..

[TexasDevilDog]

giving a tax cut to the rich who already have enough money to spend doesnt do shit.. give the tax cut to us normal people and you will see a better economy..

Giving tax cuts to "normal" people will allow them to spend more money at WalMart and send more jobs overseas.

[5.0_CJ]

tool...

it's always about how evil and bad bush is isn't it... 1 man in the government is responsible for it all. I think you need a stress ball.

[OurTimeIsSacred]

Seriously Bush is to blame for the decline in our economy.

[OurTimeIsSacred]

In the 80s and early 90s, presidents reagan and bush Sr. calimed that supply-side economics would lead to boost in the evonomy that owuld eliminate the record deficits "in two maybe three years." They believed that by granting tax cuts (most of which went to rich people and corporations) the economy would drastically grow and expand...but even people within these administrations called these policies "trojan horse" scams to funnel more money to the rich. By the time the "regan revolution" was over. george bush Sr. was running a record annual deficit of 290$ billion per year.The united states was in recession, and future generations would be pauing back the debt of our leader's failed economic policies. But many of you may ask, Is there anything to compare this to? Is there any reasonable, succesful plan we can follow in order to improve our economy? When bill clinton took office in 1992, he intentionally reversed the regan and bush sr. formulas, rasing taxes on wealthy and reducing taxes on lowest wage earners. Many republicans predicted the arrival of the apocolypse. Bob Dole said the stock market would collapse. Newt gingrich said the world would fall into another great depression. What actually happend in Clintons two terms? Many say he was a complete failure, a mistake, and made a mochary of politicians. Well between 1992 and 2000 the US economy produced the longest sustained economic expansion in US history.It created more than 18 million new jobs, the highest level of job creation ever recorded. and at the end of his presidency the US economy was booming with a $236 billion surplus.So it would make sense for us to learn from history. To follow economic policies of the past that have worked and to learn from the mistakes of those that did not.But when George bush Jr. assumed the presidency in 2001, he brought back the supply side economics principles of his father, giving tax cut after tax cut to the rich. In just one term, Bush managed to turn a $236 Billion surplus into a $500 Billion deficit; the largest in the history of the united States. Debt would pile up for future generations, health care costs would skyrocket, and social security funds would be decimated while the wealthy, and those involved in energy and drug industries would prosper like never before. Bush defended his policies and blamed "the Clinton recession," Al qaeda, and the war in Iraq for his record-high deficit.

theres more where that came from

[TexasDevilDog]

Bush managed to turn a $236 Billion surplus into a $500 Billion deficit

You, like many people on both sides, are so brain washed you can't come up with an original thought on anything. You must plagerize someone elses work to make a point.

Yahoo Search (http://search.yahoo.com/search?p=%22George+Bush+Sr+was+running+a+record+an nual%22&ei=UTF-8&fr=FP-tab-web-t&fl=0&x=wrt)

The quote I took from what you plagerized is such a distortion of facts it is crazy.

Treasury Department website on the national debt -> Link (http://www.publicdebt.treas.gov/opd/opdpenny.htm)

Prior Fiscal
Years

09/30/2004 $7,379,052,696,330.32
09/30/2003 $6,783,231,062,743.62
09/30/2002 $6,228,235,965,597.16
09/28/2001 $5,807,463,412,200.06
09/29/2000 $5,674,178,209,886.86
09/30/1999 $5,656,270,901,615.43
09/30/1998 $5,526,193,008,897.62
09/30/1997 $5,413,146,011,397.34
09/30/1996 $5,224,810,939,135.73
09/29/1995 $4,973,982,900,709.39
09/30/1994 $4,692,749,910,013.32
09/30/1993 $4,411,488,883,139.38
09/30/1992 $4,064,620,655,521.66


Where is the year with the $236 Billion surplus? I don't see a year that the debt went down.

Use your brain to form your own opinion. When you use someone else's information there is a chance it is wrong, then you are more than the dumb ass that originally wrote it, you are the stupid ass that believes it.

[clean89]

if you look at history and economics then you will find that it is essentil(sp cant think) for our economy for the gov to have a defecit.

[clean89]

giving a tax cut to the rich who already have enough money to spend doesnt do shit.. give the tax cut to us normal people and you will see a better economy..

It strikes me funny for a man to post up bragging about his house to bitch about money. Think about it.

[TexasDevilDog]

It strikes me funny for a man to post up bragging about his house to bitch about money. Think about it.

Toolman is being a true socialist. He believes that government can ease the poor's burden by taking from the rich and giving to the poor. Heck, the government gave him everthing he has including that big house.

[TexasDevilDog]

http://www.resourceinvestor.com/pebble.asp?relid=7585

[TexasDevilDog]

http://safehaven.com/article-2386.htm

[WhtEdge]

The Bush administration and policies sure are not helping the US or the economy. We are going further into debt and is there any profound plan yet? His admin. is not responsible with gov. spending. As long as his admin. is running things I cannot see things getting much better. Hopefully I will be proven wrong.

[WhtEdge]

Giving tax cuts to "normal" people will allow them to spend more money at WalMart and send more jobs overseas.

No kidding. Outsourcing is becoming big deal. The US is giving jobs away more and more for greed and to save money. Really, what is made here anymore. I was looking at my clothes, sheets, house supplies.....none were made here. Americans will become their own worst enemy. Sense of self entitlement, unions, corruption, greed will all finish it up. There will be a rich and poor class. Rich will get richer and the middle class will drop to the lower poor rating. Wait, that is already happening. I blame the irresponsible spending of the government, corporate greed, and just selfisfh a-holes. I really don't see the US being a superpower for too long unless things change. :mad:

[TexasDevilDog]

Dollar Falls to New Low Today (http://www.bloomberg.com/apps/news?pid=10000103&sid=aathuTkRQoXk&refer=us)

:) :) :) :) :) :) :) :)

I think it will continue.

Under WTO rules it is becoming harder and harder to stop the flow of world trade with tarrifs and quotas. Counties like China are using their currency to give them a trading advantage. This hurts the USA, but Europe didn't care because they exported more than they imported.

The Chinese Yuan is pegged to the dollar. China's government just keeps printing Yuan and buying US treasuries to stop the dollar from falling versus the Yuan, which should happen as an economy grows like China has been internally and with large export growth. If the Yuan would rise versus the dollar that would make Chinese imports in to the USA more expensive. China doesn't want that.

WTO free trade rules don't have provisions to stop a country from manipulating its currency in an unfair way.

I believe the FED and Treasury Department is actively pushing the US dollar down. With the dollar falling and the Chinese Yuan pegged to the dollar, makes the Euro rise. Now that the Dollar is making new lows weekly, if not daily versus the Euro, makes the countries use the Euro very upset. The business of the EU are having to fight against ever growing cheaper products from China.

I think the FED is trying to force support from the EU members to support us and make the Chinese unpeg their currency. Untill that happens, good times are to be had in foriegn markets.

[mikeb]

By most accounts it was a "projected surplus", not cash on the barrel head.

Here's an interesting article by senator Friz Hollings (D) circa 1998 discussing the "surplus" titled "What surplus?".

http://free.freespeech.org/x-pac/hollings.html

The bottom line is that washington continues to spend more than it takes in in taxes and borrows from foreign countries to make up for the deficit. I've read a lot of stuff in business pubs that suggest that this increasing debt level is responsible for the falling dollar. When a country gets into deep debt there are three choices: 1. Increase taxes and pay off the debt (unpopular), 2. Print more money (Italy tried this; their interest rates skyrocketed thousands of percent while the currently continued to fall), or 3. Default (not a good idea either).

No one in washington will take on this issue unfortunately.

[WhtEdge]

By most accounts it was a "projected surplus", not cash on the barrel head.

Here's an interesting article by senator Friz Hollings (D) circa 1998 discussing the "surplus" titled "What surplus?".

http://free.freespeech.org/x-pac/hollings.html

The bottom line is that washington continues to spend more than it takes in in taxes and borrows from foreign countries to make up for the deficit. I've read a lot of stuff in business pubs that suggest that this increasing debt level is responsible for the falling dollar. When a country gets into deep debt there are three choices: 1. Increase taxes and pay off the debt (unpopular), 2. Print more money (Italy tried this; their interest rates skyrocketed thousands of percent while the currently continued to fall), or 3. Default (not a good idea either).

No one in washington will take on this issue unfortunately.

yep, the current administration is doing a terrible job about spending money. Seems they keep getting approval for higher and higher budgets. Totally screwed up. Most voted for this man though.

[mikeb]

It's not just this administration thats spending. Several before W have also been spenders, even slick willie.

[WhtEdge]

It's not just this administration thats spending. Several before W have also been spenders, even slick willie.
Slick Willie, HA! That name always makes me laugh.
I still believe the current admin. is the worst at it. As you said, they are all quilty of it. It is just out of hand...

[QwikFox]

damn this is sad

[TexasDevilDog]

http://safehaven.com/article-2403.htm

...
Throughout the decades a few economists always were worried about the magnitude of the trade deficits and the vulnerability of the American dollar. But their fears proved to be unfounded because they underestimated the worldwide demand for dollars and the willingness of foreign investors and central bankers to trust and hold U.S. dollars. After all, until recently the deficits never exceeded three percent of GDP and Americans still were net creditors in their foreign accounts. By now, in 2004, the dollar standard has reached a stage in which not only a few economists but also some foreign creditors are beginning to question its future. The Federal government is swimming in an ocean of debt. In its first term the Bush administration increased the Federal debt by $2.2 trillion. Congress raised the Treasury debt ceiling three times, by $450 billion in 2002, by $984 billion in 2003, and by another $800 billion on November 19, 2004, to $8 trillion 184 billion. The ready willingness of Congress to finance such deficits is a clear indication of the political and ideological mold and make of most members of Congress and the public that elects them.

Foreign observers are drawing similar conclusions. The Bank of Japan with more than $800 billion in dollar obligations already announced its reluctance to increase its holding. China with dollar reserves exceeding $500 billion is laboring under "unsustainable U.S. trade deficits." Asian banks altogether holding more than $2 trillion in American obligations are suffering hundred-billion dollar losses in terms of purchasing power. It is not surprising that the central banks of India and Russia as well as some Middle East investors have begun to sell dollar obligations.
...