Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
When all the countries that have been buying and saving in dollars wants to cash them in for another currency, the whole house of cards will topple.
Most of that national debt is in IOUS to foreign nations and investors. If they lose confidence in the US and decide to flock to Euros or Yen, or gold, we are in big trouble.
Fortunately, the other currencies are not yet as stable as the dollar. But it isn't a matter of another currency becoming stronger, it is the danger of the future dollar being perceived as uncertain.
And with the national debt being doubled under the current Administration, whoever takes over in 2009 will have to tighten the national belt, no matter who takes the reins of leadership. The spending party is over, the Titanic is tilting, but the guests are still having one last nightcap IMHO.
One thing that would help us 'little people' clear our debts would be to cap credit card interest rates at no more than 5-10% above core inflation-----for at least people with FICO scores 660 and up and good payment histories.
Washington needs to stop bribing the American population with so many transfer payments. Nobody in this country can live the American dream while spending their lives on welfare. We would pay of the debt so fast if we just reeled in some of the ridiculous spending on other countries too.
When all the countries that have been buying and saving in dollars wants to cash them in for another currency, the whole house of cards will topple.
Most of that national debt is in IOUS to foreign nations and investors. If they lose confidence in the US and decide to flock to Euros or Yen, or gold, we are in big trouble.
Fortunately, the other currencies are not yet as stable as the dollar. But it isn't a matter of another currency becoming stronger, it is the danger of the future dollar being perceived as uncertain.
And with the national debt being doubled under the current Administration, whoever takes over in 2009 will have to tighten the national belt, no matter who takes the reins of leadership. The spending party is over, the Titanic is tilting, but the guests are still having one last nightcap IMHO.
They will regret it in the morning, too.
This is correct except for the part about other currencies not being as stable. At this point in time most major currencies are more stable than the dollar. The dollar has lost 40% of its value against the euro, the yen, and the loonie, in just the past 5 years. As the national debt rises and we continue to lower interest rates in an attempt to save the banking system we will see the dollar continue to fall. The more I study the situation the worse it looks.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
On a Thursday
