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.
"By recklessly printing, borrowing and spending money, our authorities are absolutely shredding confidence in the U.S. dollar. The rest of the world is watching this nonsense, and at some point they are going to give up on the U.S. dollar and throw their hands up in the air. When that happens, it is going to be absolutely catastrophic for the U.S. economy."
The once all mighty dollar is already dying overseas when it's at it's all time low and going lower! Fortunately the cost of labor is still low, but food and other commodities are sky rocking!
The "Fiscal Cliff"is something to worry about as long as the U.S. government is undecided on what to do about it!
While the decline of the dollar, especially in such a low interest environment, will punish the majority of Americans, it will have one benefit... We might stand a chance at regaining a competitive edge with a competitively priced workforce. We might also see improvement in our trade balance, which has been a joke for some time. Manufacturing has been performing very well under this environment, and many European and even Chinese companies have been investing here. Our labor costs are quite competitive compared to many other high labor cost countries.
Of course, the price paid for this advantage is certainly going to hurt countless Americans. At the very least, it will give some young Americans a chance to get off mom and dad's couch. If only our COL could decline with the dollar...
Everyone thinks I'm nuts for talking about hyper inflation. You can't get that without having true inflation first. Well this is an article about what I've been talking about. Downward pressure on wages and $100/gallon gas prices. That is not that far fetched a thing to think about.
While the decline of the dollar, especially in such a low interest environment, will punish the majority of Americans, it will have one benefit... We might stand a chance at regaining a competitive edge with a competitively priced workforce. We might also see improvement in our trade balance, which has been a joke for some time. Manufacturing has been performing very well under this environment, and many European and even Chinese companies have been investing here. Our labor costs are quite competitive compared to many other high labor cost countries.
Of course, the price paid for this advantage is certainly going to hurt countless Americans. At the very least, it will give some young Americans a chance to get off mom and dad's couch. If only our COL could decline with the dollar...
For this reason the Chinese will take great pains to keep the dollar strong. If the dollar dies, China could be a greater victim.
"By recklessly printing, borrowing and spending money, our authorities are absolutely shredding confidence in the U.S. dollar. The rest of the world is watching this nonsense, and at some point they are going to give up on the U.S. dollar and throw their hands up in the air. When that happens, it is going to be absolutely catastrophic for the U.S. economy."
What major currencies are not subject to the same thing right now? The Euro is a mess. The Renminbi is going to go all to hell when the Chinese economic machine really slows down and the true face of its economy is shown. The Japanese Yen is going through its own hell as well. So what is there out there that somehow makes the dollar so terrible? Every currency out there that's of any significance is terrible.
Everyone thinks I'm nuts for talking about hyper inflation. You can't get that without having true inflation first. Well this is an article about what I've been talking about. Downward pressure on wages and $100/gallon gas prices. That is not that far fetched a thing to think about.
Because it is nuts. The US isn't a banana republic. It is the world's leading economy.
"By recklessly printing, borrowing and spending money, our authorities are absolutely shredding confidence in the U.S. dollar. The rest of the world is watching this nonsense, and at some point they are going to give up on the U.S. dollar and throw their hands up in the air. When that happens, it is going to be absolutely catastrophic for the U.S. economy."
Awww....another article from the "Economic Collapse Blog" by Grandpa Pipes. I'm guessing its the only thing he reads other than CDF.
Annual GDP growth in this country is at about 2%. Unemployment has fallen from 10.3% to 7.9%. Even the labor force participation rate increased during the last month or two in the latest reports from the Bureau of Labor Statistics. The lesson here, though, is that an economy with a low or anemic growth rate is not akin to an economy facing economic collapse. Got that?
If the dollar is "on the verge of collapse" why has it appreciated the last couple of years against the other major world currency, the Euro? Why is it on par with the Canadian dollar and the Australian Dollar? Why does the dollar hold its relative value against the Japanese Yen?
You constantly construct these economic fantasies that bear little relation to reality. You've been carrying on like this ever since I remember and I joined CDF in 2009.
The only thing I find amazing about your scenarios is that anyone here pays attention to them.
Awww....another article from the "Economic Collapse Blog" by Grandpa Pipes. I'm guessing its the only thing he reads other than CDF.
.
No, mister smart pants! ECB is not all I read by a long shot!! For you to attempt to be condensing and a smart arse claiming that I do is an attempt on your part to cast doubt on something you know little about.
You don't like ECB? Fine, don't read it. However, you ,nor anyone else here, has no right to attempt to prejudice opinions against ECB for your amusement.
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.
