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Dollar's Fall Starts To Stir Worry »

Posted by: TechnologyExpert 11 months ago

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Concern is growing in New York, in the wake of last week's meeting of the Federal Reserve Board, over the quickening collapse of the value of the dollar, as foreign investors proclaim that a "for sale" sign has been hung on the city and economists and analysts warn that a collapsing currency bodes ill for the economy.

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Comments So Far: 41

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gsmaster11 months ago

It is very scary and what the economists say is true, it is just a matter of time to have some real world economic issues
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  bumbaklotartattack11 months ago
  
  Oh...oh NOW you're worried? Now that the dollar is 1:0.70 to the euro, you're worried. You're worried now that the dollar is less than the Canadian dollar when it used to be 1 dollar to 1.3 Canadian. You're worried now that NASDAQ is controlled by the Arabs. You're worried now that the price of oil is over 80 dollars per barrel. You're worried now that the war in Iraq is a total lie and you've murdered 1 million Iraqis. Now you're worried. Well guess what. IT'S TOO LATE! LOL!!11
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    crghss11 months ago
    
    To late for what?
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      skeek11 months ago
      
      Too late to turn it around. Here's a couple of things that could happen next as a consequence of your ever depreciating dollar.
      Firstly, the international market, especially the oil market, dumps trade in the dollar in preference for the euro. The dollar then loses its reserve currency status; the true key to America's economic success. It looks like you may just lose that key.
      The second thing is that foreign central banks holding US currency, the ones that have been lending your country all that money, will look for ways to offload their US holdings without too great a loss. One of the most obvious ways is to start buying up American interests. As China is now America's primary creditor you could very soon find them under Chinese ownership. So not only will your jobs have gone to China but US companies may soon be owned by them too.
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        ABANOCLA11 months ago
        
        I say let them take all the companies they want to buy, and then we nationalize and they all get screwed. The same way all the other countries do it, thanks for investing, now get the fluck out. lol
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  Dionys11 months ago
  
  Bumba - Although you come across as somewhat of an idiot.. I'm in complete agreement with you regarding people worrying now. If you're only getting worried now, people, you haven't been paying attention for a long, long time.
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  SpareChange11 months ago
  
  I echo Bumba
  and add - notice (at least when i posted) there are no republicans or conservatives posting... because economics don't lie and NecoCons are still in denial
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  protoham11 months ago
  
  The dollar has been to strong for to long, that is why companies and jobs have gone overseas. This is an opportunity to get the companies and jobs back. I design embedded systems for companies and have just taken away four product from the French and two from Germans. My US based company is growing. Let the good times roll.
  
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    jovial11 months ago
    
    The businesses prosper and the consumers are hung out to dry.
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      Dionys11 months ago
      
      How's that different from every other day??
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  buzzsaw11 months ago
  
  Welcome to the New World Order. Google Amero, North American Union, Security and Prosperity Partnership Of North America. Why do you think GW doesn't want to close the borders? Why doesn't he want to stop the flood of illegal immigrants? Get out of Iraq? It's all part of the plan, and the U.S. as we knew it is in the way. See ya at Gitmo. ; )
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  buzzsaw11 months ago
  
  Check out
  http://www.youtube.com/watch?v=6hiPrsc9g98
  http://www.youtube.com/watch?v=T74VA3xU0EA&NR=1
  We have been sold down the river. Believe it or not.
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ETproductions11 months ago

GW Bush. The absolutely worst president in the entire history of the United States.
Impeach Bush and Cheney! Begin the bewilderingly tough task of rebuilding America.
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engineer11 months ago

After we live on credit and plunge thjis nation into untold debt because the wealthy's greed. This eventually had to happen. With the garbage in the White House, we will be paying for it for many GENERATIONS!
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  Obaku11 months ago
  
  Do you know what happens when any person, any company, any country, is in debt that it has no hope of ever repaying, and then puts up for sale, and starts discounting, everything that they own?
  That is the condition the U.S. is in today.
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GrainOfSand11 months ago

Everything Bush has touched has been run into the ground. Now he's at it again with the USA. Bush has done more to ruin this country than any human being that has walked this earth.
And lawmaker seems to care. That makes each lawmaker who continues to let Bush have his way just as criminal as Bush.
But, as usual, Bush will get away with it. Someone else will clean up his mess. Sounds like an F. Scott Fitzgerald book. I wish it was fiction!
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  skeek11 months ago
  
  You make it sound as if this has only just started now, but it hasn't. This has been very clearly on the distant horizon with an unhindered view for years now. It's the manifestation of a few things.
  Two of them are, 1) an over-confidence in your economy - the belief that it is eternal and that includes the belief that all that's required is a printing price to remain upwardly mobile, and 2) an over-extension of your empire, most notably your country's military crusades and efforts to seize and fully control the world's essential resources because it knows it's going under while other competing powers for world supremacy are emerging rapidly. With the world's resources under US control or quasi-control it hopes to retain its leverage and remain top dog.
  
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    skeek11 months ago
    
    Better make that "press" and not "price" if you want to make sense of it.
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      ZenAgain11 months ago
      
      That's alright Skeek- With Blackwater it's almost name your price.
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hamy11 months ago

Now people are starting to worry? This has been going on all through the Bush presidency. Wake up. Your money is worth nothing.
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simonsez11 months ago

Nothing to worry about. The pressure is on our competitors. They depend on our economy and everything they ship here becomes more expensive for us and less profitable for them.
It promotes foreign investment in American assets and not at discounted prices. Japan overpaid for everything they bought over here in the eighties and eventually took losses on much of it.
It's a temporary situation, although parity with the loony probably will continue because they own the commodities we need.

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  simonsez11 months ago
  
  I might mention further that investment in Canadian commodity companies is a no-brainer for the long term.
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    Obaku11 months ago
    
    Better than the U.S. but still a fiat currency, and with a massive debt.
    http://www.ndir.com/SI/education/debt.shtml
    At least they have oil, and gold.
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      Jaydee4011 months ago
      
      And water, electricity, lumber, and technology and the list goes on all of which the US needs, the only question is how does this affect the payment of those items?
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        Obaku11 months ago
        
        There is no advantage to having your best customer going bankrupt.
        The good news is that the Chinese need these things too, and they have money, lots of it.
        The bad news is that a good size hunk of that money ($1 trillion dollars ) is U.S fiat currency, sinking like a stone.
        But every central bank is holding big hunks of U.S. currency, which is like trying to store value in lettuce. It won't be long, no matter what you try, before all you have left is a slimy, stinking mess.
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        skeek11 months ago
        
        That's why they'll spend it and the only place to spend and get value for money these days is in the US. No matter what simonsez says, the Chinese are going to be snapping up a few bargains.
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        Obaku11 months ago
        
        Spend money? No. Spend U.S. dollars? Probably, because no place else in the world really wants any more. Well, not true, it still spends, but maybe not for long. Canada, Australia, Argentina, Brazil - those are good bets.
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        skeek11 months ago
        
        China will spend its US currency holdings in the US because that's the only place it can dump the dollar without too much of a loss.
        The other day it allowed Chinese investors to buy stocks on the Hong Kong exchange, but only if purchased through China's central bank which then pays the exchange for the stock in US dollars. Another way of offloading the greenback.
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        Jaydee4011 months ago
        
        My point is selling things to the states at a fixed rate doesn't look so good now with the American dollar in the toilet. If the contracts are renewed every year then there's room to compensate for the weak greenback but if your locked in to a fixed price the profits go down every time the American dollar does which amounts to close to 40% since Bush took office.
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crghss11 months ago

Run, run the sky is falling, the sky is falling, run.
WE"RE ALL DOOMED. BOOOHHOOO BOOHOOOO
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  skeek11 months ago
  
  I can see this all goes far beyond your comprehension. You better lie down, take a nap.
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SpareChange11 months ago

The dollar has been low before, but this time, the world markets have an alternative - the euro.. so who knows what's going to happen..
watch, corporations will abandon the us for Europe to seak 2Billion consumers in China and India.
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  protoham11 months ago
  
  Let's see. I can buy expensive stuff and pay for shipping, or I can buy local, help my country and by the way it is cheaper and I don't have to pay for shipping.
  Yeah, I want to buy the expensive stuff. NOT
  This is exactly what will bring the companies back to the US.
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    jovial11 months ago
    
    We don't make hardly any thing, but hamburgers.
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      Jaydee4011 months ago
      
      The north American economy has become over service based to fight back.
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simonsez11 months ago

Our major companies are already global and collecting all the world currencies every day.
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  Jaydee4011 months ago
  
  Then they are luckier than the average person aren't they.
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  Obaku11 months ago
  
  Which is not to say they have any incentive to bring those profits back to the U.S., pay taxes on them in the U.S., or spend them in the U.S.
  Completely useless to Americans, in other words. Their stockholders are just as 'multinational' as their business, so they are not "ours" in any meaningful way at all.
  Why should we care that some multinational corporations are in less trouble that we - actual human beings - are?
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  dissent11 months ago
  
  They're cutting back because the dollar doesn't have the same spend as before which means their costs are going up.
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johnbbbs11 months ago

Read "Atlas Shrugged" by Ayn Rand........

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  dissent11 months ago
  
  Ayn Rand was a fascist.
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