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Not only that but Europeans are well used to high gas prices. They have had them for years and have learned to live with them unlike us who gripe about what we cannot change.
Once again, Europeans don't have 100 mile commutes in SUVs like many Americans do. Its going to get to a point where people are going to have to live in the metro or even the city that they work in.
We were vacation in FL last summer. And there was an astounding number of UK people vacationing there. The shops all over orland/kissimmee area advertise they sell British foodstuffs. Our hotel advertised direct flights from Cardiff, Wales.
I have been told that the British are also buying much of the real estate there. And own several of the large golf courses in and around Orlando. So I think the economy may be bolstered a bit by foreign investments.
I don't know about Orlando so I won't speak for it, but there was a report last year put out by the Florida Chamber of Commerce. Basically it said foreign investment in the state was down. If you search the Florida forum you might be able to find the actual report.
Looks like what we have here is another bone-headed "internet economist." I got my economics degree from the University of Cincinnati, where'd you get yours? Peel it off of a bottle of Budwater did you?
The undisputed facts are that during the 8 years of the Clinton Administration the annual currency inflation rate was 2.9%; during the Bush Administration to date; 2.9%; since 1974 it's averaged 3.9% annually.
What that means in layman's terms is that $100 in 1974 would be worth only $27 today.
Since 1974 the currency inflation rate in the United Kingdom has been 6.3%. That means ₤100 is now worth ₤9.
So, if you think the Federal Reserve is doing such a poor job, why don't you trade them for the UK's central bank? How about Spain or Italy where the central banks has done such a fantastic job that between 1980-2000 the Peseta and the Lira lost 70% of their value?
I know, you're really jealous of Romania's central bank. Since the introduction of the Leu Greu in 2005 the annual inflation rate has been 14%.
It looks like you proved your point that Bernanke & Co are denying you and other Americans your god-given right to suffer hyper-inflation. I'm sure Ron Paul or Congress could a better job and guarantee an inflation rate of at least 22% per year. You won't mind living in a card board box and eating Ramen noodles for breakfast, lunch and dinner.
And contrary to your misinformed beliefs, the Federal Reserve does not and is not authorized to print money, only the US Treasury Department can do that, or did you never read the US Constitution?
That would be about $2.73 Billion per year, a far cry from the trillions and trillions you claim, but it seem you forgot or were never aware that the Treasury Department also destroys $Millions in currency each day.
The US$ is weak against the Euro because Russia and more than 60 other countries have dumped their US$ reserves and no longer buy or sell anything on the world market in US$.
Japan no longer buys its oil and natural gas from Iran in US$, it pays in Yen, and China has negotiated a deal with Iran to buy oil and natural gas in Yuan instead of US$. That will probably start June and the US$ will nose dive again.
When OPEC switches to basket currencies, the US$ will bottom out at $0.42 = €1 and that's where it will stay, unless the US starts invading countries to take over their oil, natural gas and minerals.
I have a degree in International Econ as well (Bachelor of Science). Great post man, agree with you. I think Bernanke is doing the best he can with what he has. Green span screwed up and this guy is cleaning up the mess. I don't agree with corporate bail outs but then again the affects would have been much worse had they stood by and done nothing.
Touism in Michigan is up 23% this year and traffic across the Macinac Bridge may set a record. Mainly because Canadians are pouring in to take advatage of the stronger Canadian dollar.
LOL The bridge traffic just could be people going to visit others in prison.
I can't believe how rude some people were in this thread.... you can disagree with someone without trashing them.
If per chance you meant my commit about the bridge traffic, the fact is, a good share of the UP economy IS from the large prisons. That makes visitors to the prisons.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,763,471 times
Reputation: 3587
Quote:
Originally Posted by bchris02
Once again, Europeans don't have 100 mile commutes in SUVs like many Americans do. Its going to get to a point where people are going to have to live in the metro or even the city that they work in.
A. You can buy a Corolla or Civic and live where you want
B. You can buy a larger vehcile and live closer to your job
C. You can use a bus/subway/commuter train
D. You can carpool with others
E. You can request a raise at work to pay for higher gas cost
F. You can request a 4 day 10 hour work week so you save a day's commute
G. You can save gas other ways (tell the kids to take the school bus)
You see there are many ways to adjust life's troubles.
"where people are going to have to live in the metro or even the city that they work in."
Yeah, I am sure many people would love to do this. But when your companies lay people off every five years when their business dips even a little. It really is impractical and expensive to move just to be close to where you work just to save gas money. You have to suck it up because the public transportation systems around here are not available to many people.
A. You can buy a Corolla or Civic and live where you want
B. You can buy a larger vehcile and live closer to your job
C. You can use a bus/subway/commuter train
D. You can carpool with others
E. You can request a raise at work to pay for higher gas cost
F. You can request a 4 day 10 hour work week so you save a day's commute
G. You can save gas other ways (tell the kids to take the school bus)
You see there are many ways to adjust life's troubles.
H. You can suck it up, buttercup. Pay the price for the decisions you've made. You can pay $4 for a gallon of gas or $24 for a gallon of lattes.
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