I'MMA LET YOU FINISH
Dear Atrios:
Reagan proved deficits don't matter.
So go fuck yourself.
Love,
Dear Atrios:
Reagan proved deficits don't matter.
So go fuck yourself.
Love,
frist
frist
Nice, and just in time for Christmas.
Nice, and just in time for Christmas.
ah shit, my frist was devalued by Cheney!
ah shit, my frist was devalued by Cheney!
Erp, the dollar may have gone south but so has the link to the chart.
Erp, the dollar may have gone south but so has the link to the chart.
bebe,
You'll never believe what Bob Dole did in an empty jar of Miracle Whip.
bebe,
You'll never believe what Bob Dole did in an empty jar of Miracle Whip.
Yep, and those Euros are crying hard about it. Our factory production has ticked up, and their economies are still flat and stale even with that soaring Euro.
Yep, and those Euros are crying hard about it. Our factory production has ticked up, and their economies are still flat and stale even with that soaring Euro.
Atrios-Just a Tufte kind of comment. Graphs with arbitrary y axes can be confusing. Nice nice, I walk away now so quietly....
Atrios-Just a Tufte kind of comment. Graphs with arbitrary y axes can be confusing. Nice nice, I walk away now so quietly....
There goes my European vacation.
There goes my European vacation.
You'll never believe what Bob Dole did in an empty jar of Miracle Whip.
Poor sod who thought that it was Miracle Whip in the first place.
(in Ralph Wiggum voice) "Mommy, my sandwich tastes funny."
You'll never believe what Bob Dole did in an empty jar of Miracle Whip.
Poor sod who thought that it was Miracle Whip in the first place.
(in Ralph Wiggum voice) "Mommy, my sandwich tastes funny."
Let the mighty Euro soar...
Not to be confused with Let the Mighty Eagle Soar...
Let the mighty Euro soar...
Not to be confused with Let the Mighty Eagle Soar...
Vicki,
attagirl. feels kinda weird, getting in touch with your inner bebe rebozo, doesn't it?
Vicki,
attagirl. feels kinda weird, getting in touch with your inner bebe rebozo, doesn't it?
coitus: and there for the Europeans goes your potential spending over there.
Dole pineapple with Miracle Wipe? Liddy want smgma sandwich bad.
coitus: and there for the Europeans goes your potential spending over there.
Dole pineapple with Miracle Wipe? Liddy want smgma sandwich bad.
watertiger, indeed.
I never thought I'd like bebe rebozo, until, well, bebe rebozo!
watertiger, indeed.
I never thought I'd like bebe rebozo, until, well, bebe rebozo!
Who'd a thunk the bushies would be taking economic advice from Adam Yoshida?
Who'd a thunk the bushies would be taking economic advice from Adam Yoshida?
gee thanks Atrios, and I'm going to Europe at the end of the month.
I guess we could call it the "Bush tax on international travel".
gee thanks Atrios, and I'm going to Europe at the end of the month.
I guess we could call it the "Bush tax on international travel".
Re: Cabinet reshuffling. Kevin Drum points out that there's "only six left to go for a clean sweep!" This is unprecedented, no?
Re: Cabinet reshuffling. Kevin Drum points out that there's "only six left to go for a clean sweep!" This is unprecedented, no?
Aw, now I haven't got enough change for those "Freedom Ticklers"!
Aw, now I haven't got enough change for those "Freedom Ticklers"!
go buy euros now!!!!!
its not too late !!!!
go buy euros now!!!!!
its not too late !!!!
The trolls are getting lamer.
If bush accidentally dropped an atomic bomb on an american city, the trolls would say...
"Yeah, but it did kill all the cockroaches."
The trolls are getting lamer.
If bush accidentally dropped an atomic bomb on an american city, the trolls would say...
"Yeah, but it did kill all the cockroaches."
Avestus is so fucking stupid that he can't comprehend that his beloved free market is telling him that euros are more valuable than dollars, and are getting more valuable, which means Avestus' pathetic protests have nothing to do with reality.
Which is typical for such an obvious shithead.
Avestus is so fucking stupid that he can't comprehend that his beloved free market is telling him that euros are more valuable than dollars, and are getting more valuable, which means Avestus' pathetic protests have nothing to do with reality.
Which is typical for such an obvious shithead.
They stopped calling it a record a few days ago.
-
They stopped calling it a record a few days ago.
-
not just lame. ignorant too
not just lame. ignorant too
Unka KKKarl is really scraping the bottom of the barrel with dungheads like Avestus as trolls here.
Unka KKKarl is really scraping the bottom of the barrel with dungheads like Avestus as trolls here.
Gary Frazier is so busy sucking Euro dick that he doesn't comprehend that there is a whole hell of a lot more to an economy than just who has the MOST valuable currency.
Gary Frazier is so busy sucking Euro dick that he doesn't comprehend that there is a whole hell of a lot more to an economy than just who has the MOST valuable currency.
Must grovel before Bush. Need recharging. Too much work. Too much work fighting with roomba.
Must grovel before Bush. Need recharging. Too much work. Too much work fighting with roomba.
Bush has a master plan, see, he's going to let the Euro soar and devalue the dollar, then he's going to sit and wonder why the government is broke after 2006...
Bush will end up wishing he lost the 2004 election, his second term is going to be constantly facing the consequences of his first term.
Bawahahahahahahaha, Can't blame me or Clinton anymore.
Bush has a master plan, see, he's going to let the Euro soar and devalue the dollar, then he's going to sit and wonder why the government is broke after 2006...
Bush will end up wishing he lost the 2004 election, his second term is going to be constantly facing the consequences of his first term.
Bawahahahahahahaha, Can't blame me or Clinton anymore.
Avestus. Are you gay? Is that what this is all about?
-
Avestus. Are you gay? Is that what this is all about?
-
Avestus: OK, so strong Euro=bad (I've, as a Brit, been at the end of a weak Euro and a strong pound). But frankly, is this state of affairs going to help the Americans for terribly long?
Avestus: OK, so strong Euro=bad (I've, as a Brit, been at the end of a weak Euro and a strong pound). But frankly, is this state of affairs going to help the Americans for terribly long?
Avestus' sexual orientation is irrelevant to the fact that he's a shithead.
Avestus' sexual orientation is irrelevant to the fact that he's a shithead.
bebe,
You'll never believe what Bob Dole did in an empty jar of Miracle Whip.
Vicki Stein | Email | Homepage | 12.03.04 - 1:38 pm | #
--------------------------------------------------
------------------------------
A jar of Miracle Whip cannot be empty... because otherwise it wouldn't be a jar of Miracle Whip, it'd just be an empty jar...
But Just what did Dole do with an empty Miracle Whip jar?
bebe,
You'll never believe what Bob Dole did in an empty jar of Miracle Whip.
Vicki Stein | Email | Homepage | 12.03.04 - 1:38 pm | #
--------------------------------------------------
------------------------------
A jar of Miracle Whip cannot be empty... because otherwise it wouldn't be a jar of Miracle Whip, it'd just be an empty jar...
But Just what did Dole do with an empty Miracle Whip jar?
I think Avestus needs to get laid. Anyone whose mind flashes on sex when talking about exchange rates really needs to get some
I think Avestus needs to get laid. Anyone whose mind flashes on sex when talking about exchange rates really needs to get some
I'm not an economist, thought I have indexed more than my share of econ texts (hey, it's a job), so maybe I'm off base here:
It's always been my impression that in the short term a slowly sinking dollar is kinda sorta good for little things like exports & tourism & such. Long term, however, it behooves us to keep our dollar reasonably strong, um, because it just is. (OK, fuzzy logic here, I know. As I said no economist, I)
Thing is, we're not exporting as much as we used to, travel into the US has become well, icky, and this rapidly sliding dollar is starting to pinch like a pair of cheap plastic shoes.
So, the question is, what can we as liberal, left-wing patriots do ourselves to help slow the drop? Or are we just screwed?
I'm not an economist, thought I have indexed more than my share of econ texts (hey, it's a job), so maybe I'm off base here:
It's always been my impression that in the short term a slowly sinking dollar is kinda sorta good for little things like exports & tourism & such. Long term, however, it behooves us to keep our dollar reasonably strong, um, because it just is. (OK, fuzzy logic here, I know. As I said no economist, I)
Thing is, we're not exporting as much as we used to, travel into the US has become well, icky, and this rapidly sliding dollar is starting to pinch like a pair of cheap plastic shoes.
So, the question is, what can we as liberal, left-wing patriots do ourselves to help slow the drop? Or are we just screwed?
Dont fall for that French propaganda with all the graphs and charts and big numbers and fancy pants rithmatic and smelly old europe people who dont know how to wash their armpits.Our Murcan dollar is worth a thousand eros.Hah.
Dont fall for that French propaganda with all the graphs and charts and big numbers and fancy pants rithmatic and smelly old europe people who dont know how to wash their armpits.Our Murcan dollar is worth a thousand eros.Hah.
android, only bebe rebozo knows. 
But you can guess.
android, only bebe rebozo knows.
But you can guess.
Sigh... sadly the blogosphere still doesn't get it. A bizarrely strong Euro is actually BAD for Europe, folks.
If you don't believe me, lift your head out of the echo chamber for a minute and check out some European sites. They are all, and I mean ALL, bemoaning the Euro's upward trend as a net negative for their side.
A too-strong Euro brings their already tepid growth to a standstill. (And as an added bonus for Republicans, it makes Europe too expensive for Americans to travel to and see how much better Europeans live.)
Bush & Rove have reached critical mass, folks. Everything that happens here or abroad -- the weak dollar or chaos in Iraq or Chinese cash reserves or deficit spending -- only seems to benefit them and their shitty quest to destroy social safety nets all over the world and make the globe safe for U.S. corporate dominion.
You guys who are still combing the news looking for PR disasters to befall Bush are sadly behind the curve. It just ain't going down that way.
Sigh... sadly the blogosphere still doesn't get it. A bizarrely strong Euro is actually BAD for Europe, folks.
If you don't believe me, lift your head out of the echo chamber for a minute and check out some European sites. They are all, and I mean ALL, bemoaning the Euro's upward trend as a net negative for their side.
A too-strong Euro brings their already tepid growth to a standstill. (And as an added bonus for Republicans, it makes Europe too expensive for Americans to travel to and see how much better Europeans live.)
Bush & Rove have reached critical mass, folks. Everything that happens here or abroad -- the weak dollar or chaos in Iraq or Chinese cash reserves or deficit spending -- only seems to benefit them and their shitty quest to destroy social safety nets all over the world and make the globe safe for U.S. corporate dominion.
You guys who are still combing the news looking for PR disasters to befall Bush are sadly behind the curve. It just ain't going down that way.
Dear Crabby Lady
The main reason the euro is rising is Bush's completely lunatic fiscal policy - tax cuts galore together with spending like a drunken sailor. And to make it worse, he now wants to
1. make the tax cuts permanent
2. borrow $2 trillion MORE to cover social security "reforms" while pretending they arent borrowing it at all
This last has convinced most folks that they are not living in the real world at all.
What is a liberal to do? Same as the rich people already have -
Buy euros
Dear Crabby Lady
The main reason the euro is rising is Bush's completely lunatic fiscal policy - tax cuts galore together with spending like a drunken sailor. And to make it worse, he now wants to
1. make the tax cuts permanent
2. borrow $2 trillion MORE to cover social security "reforms" while pretending they arent borrowing it at all
This last has convinced most folks that they are not living in the real world at all.
What is a liberal to do? Same as the rich people already have -
Buy euros
notch has summed up fratboy coward think: just keep clapping to keep Tinkerbell alive.
Where the fuck are the adults! We're fucking doomed!
notch has summed up fratboy coward think: just keep clapping to keep Tinkerbell alive.
Where the fuck are the adults! We're fucking doomed!
this seriously makes me want to spend some of my xmas loot on buying some euros in case this whole dollar thing goes down the tubes.
this seriously makes me want to spend some of my xmas loot on buying some euros in case this whole dollar thing goes down the tubes.
I, for one, am glad the French have nukes.
I, for one, am glad the French have nukes.
jim j is right
This isnt a zero sum game. A huge exchange rate swing is destabilizing and bad for EVERYONE. Bush et. al. are messing with the stability of everyone's economy. Not just ours. But the europeans are a bit better off since most of their assets are already in euros so they dont have to move them to take advantage of the swing. But their gain there is offset by stagnating export markets - and they depend on exports a lot more than we do.
jim j is right
This isnt a zero sum game. A huge exchange rate swing is destabilizing and bad for EVERYONE. Bush et. al. are messing with the stability of everyone's economy. Not just ours. But the europeans are a bit better off since most of their assets are already in euros so they dont have to move them to take advantage of the swing. But their gain there is offset by stagnating export markets - and they depend on exports a lot more than we do.
Jim J ~
Something will befall Bush, though. I feel it in my heart.
krsaz ~
Hi!
Jim J ~
Something will befall Bush, though. I feel it in my heart.
krsaz ~
Hi!
yes, bush unfettered is a bush who is about to fall on his face
yes, bush unfettered is a bush who is about to fall on his face
Phew, now looking at the chart, that's scary.
I think I have a few euros squirrelled away from the last time I was in France, but even so... this ain't 1929, but it rhymes.
Phew, now looking at the chart, that's scary.
I think I have a few euros squirrelled away from the last time I was in France, but even so... this ain't 1929, but it rhymes.
Crabby:
A very nice piece in the New Yorker you might, well, not enjoy exactly but find interesting.
But screwed sums it up well.
Crabby:
A very nice piece in the New Yorker you might, well, not enjoy exactly but find interesting.
But screwed sums it up well.
Yeah, a portion of my itty-bitty retirement fund is in Euros. For which I am grateful.
I get a bit, well, crabby though, at all the deep and insightful analysis of what is wrong, while at the same time there is an absolute dirth of deep and insightful actions I personally can take to counter those things which are wrong.
Really, aside from buying euros, what can an over-the-hill poor woman do? (Actually, I think I'm screwed.)
Oh, and don't forget the Crabby, that's really my inner identity.
Yeah, a portion of my itty-bitty retirement fund is in Euros. For which I am grateful.
I get a bit, well, crabby though, at all the deep and insightful analysis of what is wrong, while at the same time there is an absolute dirth of deep and insightful actions I personally can take to counter those things which are wrong.
Really, aside from buying euros, what can an over-the-hill poor woman do? (Actually, I think I'm screwed.)
Oh, and don't forget the Crabby, that's really my inner identity.
Better wait for Krugman to get back from book leave, at which point he'll tell us what to think.
Better wait for Krugman to get back from book leave, at which point he'll tell us what to think.
That'll show them smug French and Germans!
That'll show them smug French and Germans!
Damn, there goes my Bush Boom.
Damn, there goes my Bush Boom.
A bizarrely strong Euro is actually BAD for Europe, folks.
Not nearly as bad as Bush's apparent plan to create Argentine style hyperinflation in the US.
A bizarrely strong Euro is actually BAD for Europe, folks.
Not nearly as bad as Bush's apparent plan to create Argentine style hyperinflation in the US.
It's the season for Beaujolais and already it's two dollars or more than it was last year.
It's the season for Beaujolais and already it's two dollars or more than it was last year.
Going to lunch, I anticipate that Bush will resign by 3:00 eastern.
Going to lunch, I anticipate that Bush will resign by 3:00 eastern.
"You guys who are still combing the news looking for PR disasters to befall Bush are sadly behind the curve. It just ain't going down that way.
Jim J"
Actually, Atrios is an economist. This is his area of expertise. To alert his readers to the state of affairs makes for an informed readership who can then plan accordingly. I only wish I had put more money into foreign stocks 2 years ago when Buffet did. But even shifting relatively late in the game, 6 months ago, has helped my finances significantly.
"You guys who are still combing the news looking for PR disasters to befall Bush are sadly behind the curve. It just ain't going down that way.
Jim J"
Actually, Atrios is an economist. This is his area of expertise. To alert his readers to the state of affairs makes for an informed readership who can then plan accordingly. I only wish I had put more money into foreign stocks 2 years ago when Buffet did. But even shifting relatively late in the game, 6 months ago, has helped my finances significantly.
On your next trip to Europe, be sure to bring plenty of dollars, just in case there's toilet paper shortage.
On your next trip to Europe, be sure to bring plenty of dollars, just in case there's toilet paper shortage.
5 Explosions at Madrid gas stations
5 Explosions at Madrid gas stations
I hate it when the value of eros goes up.
Them erototoxins are spensive.
I hate it when the value of eros goes up.
Them erototoxins are spensive.
After jump-starting the coffin industry, analysts expect Bush's second term to create significant growth opportunities for wheelbarrow makers.
After jump-starting the coffin industry, analysts expect Bush's second term to create significant growth opportunities for wheelbarrow makers.
"comb the news looking for PR disasters"
Please. How about the front page?
Iraq - a new disaster every day
Deficits so huge we are doing an Argentina
Need I go on?
"comb the news looking for PR disasters"
Please. How about the front page?
Iraq - a new disaster every day
Deficits so huge we are doing an Argentina
Need I go on?
But the market is soaring. Hurry, give my SSI to Wall Street.
But the market is soaring. Hurry, give my SSI to Wall Street.
May I suggest the above discussion at InstaPunk . . .
May I suggest the above discussion at InstaPunk . . .
Honestly, to protect your self in this economic environment you should buy gold or the Euro. Gold is the way to go in my opinion.
Honestly, to protect your self in this economic environment you should buy gold or the Euro. Gold is the way to go in my opinion.
You guys who are still combing the news looking for PR disasters to befall Bush are sadly behind the curve. It just ain't going down that way.
Maureen Dowd was right. This is now Bushworld.
It's his reality. We just live in it.
You guys who are still combing the news looking for PR disasters to befall Bush are sadly behind the curve. It just ain't going down that way.
Maureen Dowd was right. This is now Bushworld.
It's his reality. We just live in it.
A bizarrely strong Euro is actually BAD for Europe, folks.
Er, an over-strong Euro is not great for Europe - yes. But that strength is symptomatic of the fundamental problems with the US economy. As has been suggested above, if the dollar dives we all take a dive too. But on the way out, Europe (and others) will be in better shape because their fundamentals are much better. Amerika, in the meantime, like any untrustworthy deadbeat, is going to be in really deep poo.
A bizarrely strong Euro is actually BAD for Europe, folks.
Er, an over-strong Euro is not great for Europe - yes. But that strength is symptomatic of the fundamental problems with the US economy. As has been suggested above, if the dollar dives we all take a dive too. But on the way out, Europe (and others) will be in better shape because their fundamentals are much better. Amerika, in the meantime, like any untrustworthy deadbeat, is going to be in really deep poo.
I wish I knew what all this Euro vs. Dollar stuff meant.
Tell me if I'm way off here:
If the Euro goes a lot higher than the US Dollar, then countries are going to stop "buying into" the United States therefore giving us less money to borrow?
Is this right?
I wish I knew what all this Euro vs. Dollar stuff meant.
Tell me if I'm way off here:
If the Euro goes a lot higher than the US Dollar, then countries are going to stop "buying into" the United States therefore giving us less money to borrow?
Is this right?
agitpropre, Thanks for the New Yorker link. I hadn't seen that one yet.
But the question remains, what to do?
(I know, we're screwed, but I have no desire to lay back and enjoy it. NOT that kind of woman, thankyouverymuch!)
Oops, responsibilities calling, I'll check back later for solutions.
agitpropre, Thanks for the New Yorker link. I hadn't seen that one yet.
But the question remains, what to do?
(I know, we're screwed, but I have no desire to lay back and enjoy it. NOT that kind of woman, thankyouverymuch!)
Oops, responsibilities calling, I'll check back later for solutions.
agitpropre, Thanks for the New Yorker link. I hadn't seen that one yet.
But the question remains, what to do?
(I know, we're screwed, but I have no desire to lay back and enjoy it. NOT that kind of woman, thankyouverymuch!)
Oops, responsibilities calling, I'll check back later for solutions.
agitpropre, Thanks for the New Yorker link. I hadn't seen that one yet.
But the question remains, what to do?
(I know, we're screwed, but I have no desire to lay back and enjoy it. NOT that kind of woman, thankyouverymuch!)
Oops, responsibilities calling, I'll check back later for solutions.
Americans are smart enough to ask, "Why does the Euro hate America?"
Americans are smart enough to ask, "Why does the Euro hate America?"
Spinoza, why "arbitrary"? [Or does Tufte reference indicate cryptic sarcasm?]
Spinoza, why "arbitrary"? [Or does Tufte reference indicate cryptic sarcasm?]
JimJ, not disputing this, but the utter stupidity of Chimponmics calls for the immediate killing of and eating of the majority of the top 1% incomewise in the US and the confiscation of their stolen wealth redistributed to the rest of us in the form of a balanced budget.
JimJ, not disputing this, but the utter stupidity of Chimponmics calls for the immediate killing of and eating of the majority of the top 1% incomewise in the US and the confiscation of their stolen wealth redistributed to the rest of us in the form of a balanced budget.
But the question remains, what to do?
Crabby Old Lady
"Hmmmmm. Tricky."
Reduce your debt.
Move some assets overseas.
Hang on tight.
But the question remains, what to do?
Crabby Old Lady
"Hmmmmm. Tricky."
Reduce your debt.
Move some assets overseas.
Hang on tight.
Philboid S-Sorry about that. "Arbitrary" was the wrong word since it shows the trend for today. It's just unclear from one day's behavior what any larger trend is --same as with the stock market. Tufte is a graphic designer/commentator who has written some very neat books on graphic design, visual illustrations, erc.
Philboid S-Sorry about that. "Arbitrary" was the wrong word since it shows the trend for today. It's just unclear from one day's behavior what any larger trend is --same as with the stock market. Tufte is a graphic designer/commentator who has written some very neat books on graphic design, visual illustrations, erc.
In 2002, all the Europe haters were gloating over the weak start to the new currency - more proof that those Euro-wimps are doomed.
Now the strong Euro and weak dollar is more proof that those Euro-wimps are doomed.
In 2002, all the Europe haters were gloating over the weak start to the new currency - more proof that those Euro-wimps are doomed.
Now the strong Euro and weak dollar is more proof that those Euro-wimps are doomed.
Avestus is so fucking stupid that he can't comprehend that his beloved free market is telling him that euros are more valuable than dollars, and are getting more valuable, which means Avestus' pathetic protests have nothing to do with reality.
Which is typical for such an obvious shithead.
--Preach it, brutha.
Avestus is a complete loon of a whack-job idiot. He'll come here and drop his turds of stupid points, and then, when someone pastes something in response that rebuts or corrects what he stated, he never responds. It is as if there is no communication with this fuck. It's all one way. He does all the writing, but nothing penetrates his whacked out and thick skull.
Avestus is so fucking stupid that he can't comprehend that his beloved free market is telling him that euros are more valuable than dollars, and are getting more valuable, which means Avestus' pathetic protests have nothing to do with reality.
Which is typical for such an obvious shithead.
--Preach it, brutha.
Avestus is a complete loon of a whack-job idiot. He'll come here and drop his turds of stupid points, and then, when someone pastes something in response that rebuts or corrects what he stated, he never responds. It is as if there is no communication with this fuck. It's all one way. He does all the writing, but nothing penetrates his whacked out and thick skull.
Going to lunch, I anticipate that Bush will resign by 3:00 eastern.
He wants to spend more time with Condi.
Going to lunch, I anticipate that Bush will resign by 3:00 eastern.
He wants to spend more time with Condi.
I wonder what this Avestus guy has to say about Canada's dollar in relation to ours?
I wonder what this Avestus guy has to say about Canada's dollar in relation to ours?
OT: Don't forget the Ukraine! On second thought, uh, forget the Ukraine.
OT: Don't forget the Ukraine! On second thought, uh, forget the Ukraine.
But our strong euro will result in cheaper crude oil. For us.
I think the USA will feel the consequences of a weak dollar, if/when
- oil is no longer bought and sold in $
- the Chinese stop pegging their yuan to the dollar
- the euro becomes more popular in international financial traffic than the dollar.
As long as the current, America-centric, system persists, you'll be fine. And maybe that will be a long time. As long as the USA keeps its buying power, nobody will say no to a dollar. But that buying power is dependent on external (Chinese/Japanese) investments in U.S. currency, and investments that go south are not popular. So it's a toss-up.
But our strong euro will result in cheaper crude oil. For us.
I think the USA will feel the consequences of a weak dollar, if/when
- oil is no longer bought and sold in $
- the Chinese stop pegging their yuan to the dollar
- the euro becomes more popular in international financial traffic than the dollar.
As long as the current, America-centric, system persists, you'll be fine. And maybe that will be a long time. As long as the USA keeps its buying power, nobody will say no to a dollar. But that buying power is dependent on external (Chinese/Japanese) investments in U.S. currency, and investments that go south are not popular. So it's a toss-up.
Pardon my economics ignorance (a liberal arts education will do that to you), but I'm trying to get my little mind around what the rising euro means to my little daily life. When the lease on my VW runs out and I go to get another one, it'll be way more expensive than I expect, right? And my favorite Camembert, Delice de France, will be more expensive at the store, right? And my favorite Beaujolais, too? Oh no, and my favorite Irish beer, too! It's a drag but I can understand those things.
What larger-scale effects of the euro rise will affect my daily life that I haven't figured out yet? What else should I watch out for?
Keep it simple, now.
Pardon my economics ignorance (a liberal arts education will do that to you), but I'm trying to get my little mind around what the rising euro means to my little daily life. When the lease on my VW runs out and I go to get another one, it'll be way more expensive than I expect, right? And my favorite Camembert, Delice de France, will be more expensive at the store, right? And my favorite Beaujolais, too? Oh no, and my favorite Irish beer, too! It's a drag but I can understand those things.
What larger-scale effects of the euro rise will affect my daily life that I haven't figured out yet? What else should I watch out for?
Keep it simple, now.
spinoza
if you arent convinced by a one day trend, then go to the yahoo site atrios linked and click on the one week trend. then click on the three month trend. then click on the one year trend. if you still arent convinced, then you never will be
spinoza
if you arent convinced by a one day trend, then go to the yahoo site atrios linked and click on the one week trend. then click on the three month trend. then click on the one year trend. if you still arent convinced, then you never will be
Ahem, Jeremiah, Avestus is an "it" not a "he."
Ahem, Jeremiah, Avestus is an "it" not a "he."
Love how a Bush cultist comes over here and mumbles like a mantra everything is fine...everything is fine...everything is fine...everything is fine...everything is fine....everything is fine...
I am waiting for them to start wearing robes, dancing in airports, carrying bejeweled icons of the leader, chanting the sacred name of Dubya, and start pointing their fingers and screaming in terror when they meet a non-pod person.
Love how a Bush cultist comes over here and mumbles like a mantra everything is fine...everything is fine...everything is fine...everything is fine...everything is fine....everything is fine...
I am waiting for them to start wearing robes, dancing in airports, carrying bejeweled icons of the leader, chanting the sacred name of Dubya, and start pointing their fingers and screaming in terror when they meet a non-pod person.
I've got to go. Just got word that Liddy is passed out in her own vomit in a bar in Anacostia. Other patrons apparently coated her gin-soaked body with Miracle whip and the bar ownder's ferret is licking it off. Should be interesting.
I've got to go. Just got word that Liddy is passed out in her own vomit in a bar in Anacostia. Other patrons apparently coated her gin-soaked body with Miracle whip and the bar ownder's ferret is licking it off. Should be interesting.
Spinoza, I noticed that same failing when we were all gloating over Sinclair's Broadcasting's stock drop -- a trend which had been apparent for months before anyone ever heard of Swift Boat Vets.
Spinoza, I noticed that same failing when we were all gloating over Sinclair's Broadcasting's stock drop -- a trend which had been apparent for months before anyone ever heard of Swift Boat Vets.
dear strawhat
If it get out of hand look out for a depression. If they have to raise interest rates sharply because nobody will buy our paper otherwise, then we are in for a downturn and there is a chance it could be a big one if they persist in their lunacy and the stars align in a bad way.
short answer: "you're fired"
dear strawhat
If it get out of hand look out for a depression. If they have to raise interest rates sharply because nobody will buy our paper otherwise, then we are in for a downturn and there is a chance it could be a big one if they persist in their lunacy and the stars align in a bad way.
short answer: "you're fired"
Moronic brownshirt fucks... who gives a shit what they type?
It's like getting pissed over a telemarketer saying you need new aluminum siding. It's what they're paid to say.
Moronic brownshirt fucks... who gives a shit what they type?
It's like getting pissed over a telemarketer saying you need new aluminum siding. It's what they're paid to say.
Just wondering if the Euro is surging or is the dollar plumeting.
I'm not economist but try to follow me: how does this relate to the Asian market? Is the Euro steady compared to Asia? Is the dollar?
I have a feeling that we should be looking at the dollar and not the Euro. JimJ, anything to add?
Just wondering if the Euro is surging or is the dollar plumeting.
I'm not economist but try to follow me: how does this relate to the Asian market? Is the Euro steady compared to Asia? Is the dollar?
I have a feeling that we should be looking at the dollar and not the Euro. JimJ, anything to add?
Jesse- that's right. If the Chinese and Ruskies and old yurpeans think its time to stop propping up bush- then all hell breaks loose here in the good ole usa. stock busts, rapid job loss, no one with any money left to buy crap at walmart, plagues of toads and locusts... well you get the picture. It may come to the point where Bush is going to have to ask those folks permission to privatize Social Security- how pathetic is that?
Jesse- that's right. If the Chinese and Ruskies and old yurpeans think its time to stop propping up bush- then all hell breaks loose here in the good ole usa. stock busts, rapid job loss, no one with any money left to buy crap at walmart, plagues of toads and locusts... well you get the picture. It may come to the point where Bush is going to have to ask those folks permission to privatize Social Security- how pathetic is that?
Um, wasn't there supposed to be some sort of institutional effort to keep the dollar from sliding under 1.31?
.
Um, wasn't there supposed to be some sort of institutional effort to keep the dollar from sliding under 1.31?
.
If bush accidentally dropped an atomic bomb on an american city, the trolls would say...
"Yeah, but it did kill all the cockroaches."
Of course, as has long been known, the cockroaches are the only things that would come out just fine...
If bush accidentally dropped an atomic bomb on an american city, the trolls would say...
"Yeah, but it did kill all the cockroaches."
Of course, as has long been known, the cockroaches are the only things that would come out just fine...
Yep, and those Euros are crying hard about it. Our factory production has ticked up, and their economies are still flat and stale even with that soaring Euro.
Wow. Must really suck to have a higher standard of living, lack of military overextension, and an intact democracy.
Those poor people.
.
Yep, and those Euros are crying hard about it. Our factory production has ticked up, and their economies are still flat and stale even with that soaring Euro.
Wow. Must really suck to have a higher standard of living, lack of military overextension, and an intact democracy.
Those poor people.
.
its the dollar plummeting. go look at the cross rates between euros, yen, etc. These are pretty stable so it is us falling against everyone else. But from our point of view it is the same thing - dollar falling, euro rising - but somebody else up the thread is right when they say that the root cause of this is us and not them.
its the dollar plummeting. go look at the cross rates between euros, yen, etc. These are pretty stable so it is us falling against everyone else. But from our point of view it is the same thing - dollar falling, euro rising - but somebody else up the thread is right when they say that the root cause of this is us and not them.
Yoshimi, that's quite right. It's the Bush policies (spending and tax, incorporating foreign into the former) that are really shaking up the world's currency markets.
OT, mini-whoo that the Ukrainians have got their election results annulled in the Supreme Court. Developing...
Yoshimi, that's quite right. It's the Bush policies (spending and tax, incorporating foreign into the former) that are really shaking up the world's currency markets.
OT, mini-whoo that the Ukrainians have got their election results annulled in the Supreme Court. Developing...
Gary F:
Having eaten one or two of the rich myself I cannot recommend it. They tend to be either too bony or corpulent. However, I am with you on the redistribution of wealth.
Gary F:
Having eaten one or two of the rich myself I cannot recommend it. They tend to be either too bony or corpulent. However, I am with you on the redistribution of wealth.
But our strong euro will result in cheaper crude oil. For us.
--How would this be?
--I mean, if oil is bought and sold in dollars, then the Europeans have to buy dollars to buy oil, right?
--Now, if they can get more dollars per Euro, doesn't this mean, in essence, that the only ones getting the cheaper oil will be those countries that hold Euros, who first trade thos Euros in for dollars in order to purchase oil?
--In fact, given the fact that the dollar is going south the way it has been, why would any oil producing nation still want to be paid in dollars, when those dollars are decreasing in value with just about each passing day?
--What happens if oil producing nations start accepting--or even requiring that--payments are made to them in Euros?
But our strong euro will result in cheaper crude oil. For us.
--How would this be?
--I mean, if oil is bought and sold in dollars, then the Europeans have to buy dollars to buy oil, right?
--Now, if they can get more dollars per Euro, doesn't this mean, in essence, that the only ones getting the cheaper oil will be those countries that hold Euros, who first trade thos Euros in for dollars in order to purchase oil?
--In fact, given the fact that the dollar is going south the way it has been, why would any oil producing nation still want to be paid in dollars, when those dollars are decreasing in value with just about each passing day?
--What happens if oil producing nations start accepting--or even requiring that--payments are made to them in Euros?
"I am waiting for them to start wearing robes, dancing in airports, carrying bejeweled icons of the leader, chanting the sacred name of Dubya, and start pointing their fingers and screaming in terror when they meet a non-pod person."
-sekmet
Oh, the Moonies? They are already Bush supporters.
"I am waiting for them to start wearing robes, dancing in airports, carrying bejeweled icons of the leader, chanting the sacred name of Dubya, and start pointing their fingers and screaming in terror when they meet a non-pod person."
-sekmet
Oh, the Moonies? They are already Bush supporters.
It must be a professional development day if Avestus is out of class. Does your mom know you're on the computer, Avestus?
It must be a professional development day if Avestus is out of class. Does your mom know you're on the computer, Avestus?
The next big thing will be the new stoicism. People will be told by the media to not complain about losing their jobs, losing their houses, paying five dollars a gallon for gas, eating out of garbage cans. They will told to keep their mouths shut, stop whining, and smile smile smile.
The next big thing will be the new stoicism. People will be told by the media to not complain about losing their jobs, losing their houses, paying five dollars a gallon for gas, eating out of garbage cans. They will told to keep their mouths shut, stop whining, and smile smile smile.
-I mean, if oil is bought and sold in dollars, then the Europeans have to buy dollars to buy oil, right?
Yes. Cheap dollars.
-I mean, if oil is bought and sold in dollars, then the Europeans have to buy dollars to buy oil, right?
Yes. Cheap dollars.
Invest in exports.
Invest in exports.
Jeremiah,
--What happens if oil producing nations start accepting--or even requiring that--payments are made to them in Euros?
From the New Yorker piece that Crabby linked:
" Russia just announced that its central bank might change some of its dollar reserves into euros, and rumors persist that Saudi Arabia and other Middle Eastern oil producers will soon begin to set oil prices in euros, a move that would undermine the dollar’s privileged status."
I will not sit here while you all bash Avestus for being a necrophiliac! How can we all be accepting if we bash someone who just happens to like sex with dead people.
Sorry Avestus. We will not demean you over your obviously abnormal sexual deviancy anymore.
hey, how about them euro's!
Jeremiah,
--What happens if oil producing nations start accepting--or even requiring that--payments are made to them in Euros?
From the New Yorker piece that Crabby linked:
" Russia just announced that its central bank might change some of its dollar reserves into euros, and rumors persist that Saudi Arabia and other Middle Eastern oil producers will soon begin to set oil prices in euros, a move that would undermine the dollar’s privileged status."
I will not sit here while you all bash Avestus for being a necrophiliac! How can we all be accepting if we bash someone who just happens to like sex with dead people.
Sorry Avestus. We will not demean you over your obviously abnormal sexual deviancy anymore.
hey, how about them euro's!
tc,
One of the pre-invasion rumors I heard was that Saddam was talking about switching to euros for his oil and that was a contributing factor in advancing the war. Not saying that it's true, but I'd like to know for sure...
tc,
One of the pre-invasion rumors I heard was that Saddam was talking about switching to euros for his oil and that was a contributing factor in advancing the war. Not saying that it's true, but I'd like to know for sure...
Is this why BushCo is showing John Snow the door?
Is this why BushCo is showing John Snow the door?
JE: I should imagine a select few (say in the Urals) already are.
JE: I should imagine a select few (say in the Urals) already are.
Ah, bindun by Philboid. Whaddya know.
Ah, bindun by Philboid. Whaddya know.
How do I get a graph of the Mexican peso vs. the US dollar?
How do I get a graph of the Mexican peso vs. the US dollar?
oil prices are determined primarily by supply and demand. not by exchange rates. the people at OPEC have their computers set to the same exchange rate page we do and it takes about 1 second to change dollars to euros or vice versa.
What matters isnt so much what they price their oil in but which currency they choose to hold their wealth in. We are already seeing the result of this. Oil is still priced in dollars but more and more people are simply exchanging those dollars for euros as soon as they get them. And they know what the euro price of oil is - you can just set your oil quotation page to report it to you in euros instead of dollars.
The bottom line is that this issue has some importance but nowhere near what a lot of folks think.
oil prices are determined primarily by supply and demand. not by exchange rates. the people at OPEC have their computers set to the same exchange rate page we do and it takes about 1 second to change dollars to euros or vice versa.
What matters isnt so much what they price their oil in but which currency they choose to hold their wealth in. We are already seeing the result of this. Oil is still priced in dollars but more and more people are simply exchanging those dollars for euros as soon as they get them. And they know what the euro price of oil is - you can just set your oil quotation page to report it to you in euros instead of dollars.
The bottom line is that this issue has some importance but nowhere near what a lot of folks think.
RE: Oil,
I heard a rumor that OPEC is considering using the Euro to price their oil
I also heard that China who currently bases their economy on the dollar might also switch over to the Euro.
and... Cuba switched over last week I think for political reasons (and maybe economical)
Anyone else hear this?
RE: Oil,
I heard a rumor that OPEC is considering using the Euro to price their oil
I also heard that China who currently bases their economy on the dollar might also switch over to the Euro.
and... Cuba switched over last week I think for political reasons (and maybe economical)
Anyone else hear this?
Jesse: I suggest you google for the exchange rates, and one of the bigger sites will most likely give you a neat little graph.
Given that Mexico's advertising itself as a tourist destination, getting exchange rate info shouldn't be too hard.
Jesse: I suggest you google for the exchange rates, and one of the bigger sites will most likely give you a neat little graph.
Given that Mexico's advertising itself as a tourist destination, getting exchange rate info shouldn't be too hard.
OT--You know things are bad when even Putin is calling the US "dictatorial":
Russian President Vladimir Putin accused the United States on Friday of pursuing a dictatorial foreign policy and said mounting violence could derail progress toward bringing peace and democracy to Iraq.
...
Unilateralism increased risks that weapons of mass destruction might fall into the hands of terrorists, and would stoke regional conflicts, Putin said in a hard-hitting speech to an invited audience.
"Even if dictatorship is packaged in beautiful pseudo-democratic phraseology, it will not be able to solve systemic problems," Putin said. "It may even make them worse."
OT--You know things are bad when even Putin is calling the US "dictatorial":
Russian President Vladimir Putin accused the United States on Friday of pursuing a dictatorial foreign policy and said mounting violence could derail progress toward bringing peace and democracy to Iraq.
...
Unilateralism increased risks that weapons of mass destruction might fall into the hands of terrorists, and would stoke regional conflicts, Putin said in a hard-hitting speech to an invited audience.
"Even if dictatorship is packaged in beautiful pseudo-democratic phraseology, it will not be able to solve systemic problems," Putin said. "It may even make them worse."
Let the Euro soar....
Like its never, soared before....
(as sung by John Ashcroft)
Let the Euro soar....
Like its never, soared before....
(as sung by John Ashcroft)
Cuba switched, reportedly because of Bush's hardline stance, so yes, it's political.
Cuba switched, reportedly because of Bush's hardline stance, so yes, it's political.
go here for graphs of major currencies
http://finance.yahoo.com/m3?u
here for various free trials of foreign exchange trading sites
http://www.forex-guide.net/
curre...nformation.html
and this page will give you a peso dollar graph or anything else you could every want
http://www.x-rates.com/d/MXN/USD...SD/
graph30.html
go here for graphs of major currencies
http://finance.yahoo.com/m3?u
here for various free trials of foreign exchange trading sites
http://www.forex-guide.net/
curre...nformation.html
and this page will give you a peso dollar graph or anything else you could every want
http://www.x-rates.com/d/MXN/USD...SD/
graph30.html
"Even if dictatorship is packaged in beautiful pseudo-democratic phraseology, it will not be able to solve systemic problems," Putin said.
Obviously, Putin is still having a hard time erasing that image of Bush with his fly undone out of his mind.
"Even if dictatorship is packaged in beautiful pseudo-democratic phraseology, it will not be able to solve systemic problems," Putin said.
Obviously, Putin is still having a hard time erasing that image of Bush with his fly undone out of his mind.
I recall seeing the dollar as being the official currency of Albania a few years ago: what happened to them? Did they adopt the Euro, like Cuba, or did they manage to get their own currency off the floor?
I recall seeing the dollar as being the official currency of Albania a few years ago: what happened to them? Did they adopt the Euro, like Cuba, or did they manage to get their own currency off the floor?
Um. When the rising-Euro-falling-dollar discussions starting coming fast'n'furiously about two weeks ago, Yahoo had an AP article wherein an "expert" was suggesting the dollar would bottom out at about $1.35:1 sometime in April or May. I guess we just crashed through that floor. Yikes.
Um. When the rising-Euro-falling-dollar discussions starting coming fast'n'furiously about two weeks ago, Yahoo had an AP article wherein an "expert" was suggesting the dollar would bottom out at about $1.35:1 sometime in April or May. I guess we just crashed through that floor. Yikes.
People will be told by the media to not complain about losing their jobs, losing their houses, paying five dollars a gallon for gas, eating out of garbage cans. They will told to keep their mouths shut, stop whining, and smile smile smile
And keep shopping!
People will be told by the media to not complain about losing their jobs, losing their houses, paying five dollars a gallon for gas, eating out of garbage cans. They will told to keep their mouths shut, stop whining, and smile smile smile
And keep shopping!
downbound, I remember the Saddam--oil-euro argument too, and seem to recall a rather lengthy scholarly article on the subject.
yoshimi, I've heard that too. recently. but where I can't recall.
downbound, I remember the Saddam--oil-euro argument too, and seem to recall a rather lengthy scholarly article on the subject.
yoshimi, I've heard that too. recently. but where I can't recall.
Russian President Vladimir Putin accused the United States on Friday of pursuing a dictatorial foreign policy and said mounting violence could derail progress toward bringing peace and democracy to Iraq.
Wow! Putin has really changed his tone now that the election's over.
Guess he got what he wanted. A weak America is good for Russia, after all.
.
Russian President Vladimir Putin accused the United States on Friday of pursuing a dictatorial foreign policy and said mounting violence could derail progress toward bringing peace and democracy to Iraq.
Wow! Putin has really changed his tone now that the election's over.
Guess he got what he wanted. A weak America is good for Russia, after all.
.
--What happens if oil producing nations start accepting--or even requiring that--payments are made to them in Euros?
Lot of this is myth. The price of oil is generally benchmarked in dollars. When it comes to payment, the buyer can pay in Euro's, Yen, or whatever based on that days exchange rate. Some sellers may require their bank to convert those Euro's to dollars, but it certainly is not a requirement.
The real problem is that the dollar is losing its place as the preeminent currency for international trade. Workers from around the world (ie Filipino's, Pakistanis) when working as expatriates, demand their pay in USD. The dollar has been the worlds second currency outside the US. In example, any Indian shop keeper in India will gladly take USD.
So what happens when people outside the US lose faith in a declining dollar? Will they switch to Euro's? That is a lot of money supply that is going to come home (to the US) to roost. Our treasury has always counted on these billions of dollars staying outside the US. Probably a bigger fear than oil changing to Euro's is when the drug dealers start demanding Euro's rather than dollars.
--What happens if oil producing nations start accepting--or even requiring that--payments are made to them in Euros?
Lot of this is myth. The price of oil is generally benchmarked in dollars. When it comes to payment, the buyer can pay in Euro's, Yen, or whatever based on that days exchange rate. Some sellers may require their bank to convert those Euro's to dollars, but it certainly is not a requirement.
The real problem is that the dollar is losing its place as the preeminent currency for international trade. Workers from around the world (ie Filipino's, Pakistanis) when working as expatriates, demand their pay in USD. The dollar has been the worlds second currency outside the US. In example, any Indian shop keeper in India will gladly take USD.
So what happens when people outside the US lose faith in a declining dollar? Will they switch to Euro's? That is a lot of money supply that is going to come home (to the US) to roost. Our treasury has always counted on these billions of dollars staying outside the US. Probably a bigger fear than oil changing to Euro's is when the drug dealers start demanding Euro's rather than dollars.
"Even if dictatorship is packaged in beautiful pseudo-democratic phraseology, it will not be able to solve systemic problems," Putin said. "It may even make them worse."
-Vladimir Putin
And yet, America reelected Bush...
.
"Even if dictatorship is packaged in beautiful pseudo-democratic phraseology, it will not be able to solve systemic problems," Putin said. "It may even make them worse."
-Vladimir Putin
And yet, America reelected Bush...
.
well, cuba wouldnt miss the chance to take a poke at us but i dont believe for a minute that they would have made the switch if they didnt think it would make them a profit
well, cuba wouldnt miss the chance to take a poke at us but i dont believe for a minute that they would have made the switch if they didnt think it would make them a profit
Wow. Must really suck to have a higher standard of living, lack of military overextension, and an intact democracy.
Those poor people.
You heartless bastard, G.M.T -- you didn't see what I saw on my recent trip to St. Johns, New Brunswick -- Canadians, no different from you or me, in a zombie-like stupor, all the life and drive and vigor sucked out of them, numbly contemplating dumping democracy all together, now that their all-smothering government has robbed them of the stimulus of individually seeking the most cost-effective way to have their health care needs met.
Clearly Paul Martin tortures his own people.
US-inspired regime change is the only hope these sad and demoralized people have.
I say we bomb Ottawa. Or at the very least insert some people from the Operations Division of the Cato Institute.
Wow. Must really suck to have a higher standard of living, lack of military overextension, and an intact democracy.
Those poor people.
You heartless bastard, G.M.T -- you didn't see what I saw on my recent trip to St. Johns, New Brunswick -- Canadians, no different from you or me, in a zombie-like stupor, all the life and drive and vigor sucked out of them, numbly contemplating dumping democracy all together, now that their all-smothering government has robbed them of the stimulus of individually seeking the most cost-effective way to have their health care needs met.
Clearly Paul Martin tortures his own people.
US-inspired regime change is the only hope these sad and demoralized people have.
I say we bomb Ottawa. Or at the very least insert some people from the Operations Division of the Cato Institute.
Here is a very nice exchange rate site.
http://www.oanda.com/
Here is a very nice exchange rate site.
http://www.oanda.com/
"Even if dictatorship is packaged in beautiful pseudo-democratic phraseology, it will not be able to solve systemic problems," Putin said.
Somewhere in Russia at this moment, an enterprising speech-writer is translating the phrase "Evil Empire"...
"Even if dictatorship is packaged in beautiful pseudo-democratic phraseology, it will not be able to solve systemic problems," Putin said.
Somewhere in Russia at this moment, an enterprising speech-writer is translating the phrase "Evil Empire"...
They will told to keep their mouths shut, stop whining, and smile smile smile.
sekmet
You mean "cep ther mouf shut", don't you?
They will told to keep their mouths shut, stop whining, and smile smile smile.
sekmet
You mean "cep ther mouf shut", don't you?
Relax everyone, has Bush ever let you down yet?
Relax everyone, has Bush ever let you down yet?
Just too damned cute. From Salon
"The Bush advisor who was a little too frank for some people's tastes about the benefits of outsourcing now offers his ominous assessment about the future of Social Security benefits. From the New York Times:
"Calling the current system of Social Security benefits unsustainable, a top economic adviser to President Bush on Thursday strongly implied that any overhaul of the system would have to include major cuts in guaranteed benefits for future retirees."
"'Let me state clearly that there are no free lunches here,' said N. Gregory Mankiw, chairman of the Council of Economic Advisers, at a conference on tax policy here. 'The benefits now scheduled for future generations under current law are not sustainable given the projected path of payroll tax revenue,' he added. 'They are empty promises.'"
The White House wasn't quite on board, publicly, with Mr. Mankiw's language. Said Claire Buchan, a White House spokeswoman: "The president is committed to strengthening Social Security for younger workers so they don't face the massive tax increases or benefit reductions that are certain with inaction.""
Just too damned cute. From Salon
"The Bush advisor who was a little too frank for some people's tastes about the benefits of outsourcing now offers his ominous assessment about the future of Social Security benefits. From the New York Times:
"Calling the current system of Social Security benefits unsustainable, a top economic adviser to President Bush on Thursday strongly implied that any overhaul of the system would have to include major cuts in guaranteed benefits for future retirees."
"'Let me state clearly that there are no free lunches here,' said N. Gregory Mankiw, chairman of the Council of Economic Advisers, at a conference on tax policy here. 'The benefits now scheduled for future generations under current law are not sustainable given the projected path of payroll tax revenue,' he added. 'They are empty promises.'"
The White House wasn't quite on board, publicly, with Mr. Mankiw's language. Said Claire Buchan, a White House spokeswoman: "The president is committed to strengthening Social Security for younger workers so they don't face the massive tax increases or benefit reductions that are certain with inaction.""
Thanks for the chart referrals..
After doing some different combos I found that the Russian Rouble is spiking against the dollar.
Sure, 1 rouble is worth 4 cents American but the spike is pretty big. And it seems to coincide with our November elections.. Weird.. I wish I understood this stuff more.. Then I'd have something interesting to say here. As of now, I don't.
Thanks for the chart referrals..
After doing some different combos I found that the Russian Rouble is spiking against the dollar.
Sure, 1 rouble is worth 4 cents American but the spike is pretty big. And it seems to coincide with our November elections.. Weird.. I wish I understood this stuff more.. Then I'd have something interesting to say here. As of now, I don't.
actually, the dollar took a dive on Wed. Nov 3 at about 1 or 2 am when it became clear bush would win. the initial reaction of the markets to 4 more years was to dump dollar immediately. and it has just continued more or less non-stop since then, accelerating after their ridiculous plan to borrow $2 trillion dollars for social security (while pretending they werent by not counting it in the "official" deficit)
actually, the dollar took a dive on Wed. Nov 3 at about 1 or 2 am when it became clear bush would win. the initial reaction of the markets to 4 more years was to dump dollar immediately. and it has just continued more or less non-stop since then, accelerating after their ridiculous plan to borrow $2 trillion dollars for social security (while pretending they werent by not counting it in the "official" deficit)
zombie-like stupor, all the life and drive and vigor sucked out of them, numbly contemplating dumping democracy all together, now that their all-smothering government has robbed them of the stimulus of individually seeking the most cost-effective way to have their health care needs met. Well duh, of course we all feel like that. But what really happened to Laci Peterson? I need my Miracle Whip.
zombie-like stupor, all the life and drive and vigor sucked out of them, numbly contemplating dumping democracy all together, now that their all-smothering government has robbed them of the stimulus of individually seeking the most cost-effective way to have their health care needs met. Well duh, of course we all feel like that. But what really happened to Laci Peterson? I need my Miracle Whip.
Canadians... all the life and drive and vigor sucked out of them, numbly contemplating dumping democracy all together, now that their all-smothering government has robbed them of the stimulus of individually seeking the most cost-effective way to have their health care needs met.
Davis X. Machina
You forget - it was the 7th straight federal budget surplus that has crippled the Canadian economy. Foolish frostbacks paying their bills! More money for schools! Hah! Stalinists....
Canadians... all the life and drive and vigor sucked out of them, numbly contemplating dumping democracy all together, now that their all-smothering government has robbed them of the stimulus of individually seeking the most cost-effective way to have their health care needs met.
Davis X. Machina
You forget - it was the 7th straight federal budget surplus that has crippled the Canadian economy. Foolish frostbacks paying their bills! More money for schools! Hah! Stalinists....
Dashing Mankiw's brains against the a wall is the least that should happen to that soulless fuck.
Dashing Mankiw's brains against the a wall is the least that should happen to that soulless fuck.
Yoshimi,
here is a graphic representation of how the euro is stable against the yen while rising against the dollar.
Yoshimi,
here is a graphic representation of how the euro is stable against the yen while rising against the dollar.
Another myth is how the devalued dollar is going to make US products so much more competitive overseas.
Even if China changes the peg amount of the Yuan to the dollar by 20%, that only means American workers will be making eight times what a Chinese worker makes instead of ten times.
Also look at what our largest exports have been over the years, airplanes and military equipment. Airbus has (IIRC) caught up with Boeing, and since the end of the cold war other countries are buying far less of our military equipment.
Another myth is how the devalued dollar is going to make US products so much more competitive overseas.
Even if China changes the peg amount of the Yuan to the dollar by 20%, that only means American workers will be making eight times what a Chinese worker makes instead of ten times.
Also look at what our largest exports have been over the years, airplanes and military equipment. Airbus has (IIRC) caught up with Boeing, and since the end of the cold war other countries are buying far less of our military equipment.
You know what would be fun?
If atrios would make a thread honoring trolls. He could call it "Imitate your favorite eschaton troll."
Then, we could each assume the identity of our favorte troll (say, avestus, or Patterson, or some other piece of shit) and then start posting on that thread using their names and pretending we are them.
I think it could be a lot of fun.
You know what would be fun?
If atrios would make a thread honoring trolls. He could call it "Imitate your favorite eschaton troll."
Then, we could each assume the identity of our favorte troll (say, avestus, or Patterson, or some other piece of shit) and then start posting on that thread using their names and pretending we are them.
I think it could be a lot of fun.
OT: Michigan governor Jennifer Granholm suspended benefits for same-sex couples today, even though the recent amendment supposedly was only intended to address marriage not benefits. Way to be a courageous leader, Jen! What a disappointment the Democratic Party is every single day.
OT: Michigan governor Jennifer Granholm suspended benefits for same-sex couples today, even though the recent amendment supposedly was only intended to address marriage not benefits. Way to be a courageous leader, Jen! What a disappointment the Democratic Party is every single day.
Atrios, for those of us who don't know much about economics can you explain why this is happening and what the consequences will be?
Atrios, for those of us who don't know much about economics can you explain why this is happening and what the consequences will be?
Dashing Mankiw's brains Sorry Gary, only ganglia inside that creature.
Dashing Mankiw's brains Sorry Gary, only ganglia inside that creature.
If someone had let's say $100,000 that he wanted to salt away for a rainy day, what should he do with it? Buy euros? Buy roubles? Just asking.
If someone had let's say $100,000 that he wanted to salt away for a rainy day, what should he do with it? Buy euros? Buy roubles? Just asking.
Let's not forget that Bush and the Republicans in Congress pissed away a huge budget surplus.
Lets go back to the good old days. Shall we.
THE WHITE HOUSE
Office of the Press Secretary
--------------------------------------------------
------------------------------
For Immediate Release January 27, 2000
BUILDING ON RECORD OF FISCAL DISCIPLINE, PRESIDENT CLINTON ANNOUNCES 2001 BUDGET WILL PAY DOWN DEBT BY 2013 -- TWO YEARS EARLIER THAN PLANNED
President Clinton has announced that his budget for 2001 would put America in a position to pay off the $3.6 trillion debt by 2013 -- 2 years earlier than planned. The President emphasized that this debt reduction would be accomplished by protecting Social Security funds -- and dedicating the interest savings to Social Security, allowing the Social Security solvency to be extended past 2050. In contrast, the Republican lockbox plans in Congress fail to extend the life of Social Security by even one day. The President also announced that his budget will make Medicare secure through at least 2025.
Let's not forget that Bush and the Republicans in Congress pissed away a huge budget surplus.
Lets go back to the good old days. Shall we.
THE WHITE HOUSE
Office of the Press Secretary
--------------------------------------------------
------------------------------
For Immediate Release January 27, 2000
BUILDING ON RECORD OF FISCAL DISCIPLINE, PRESIDENT CLINTON ANNOUNCES 2001 BUDGET WILL PAY DOWN DEBT BY 2013 -- TWO YEARS EARLIER THAN PLANNED
President Clinton has announced that his budget for 2001 would put America in a position to pay off the $3.6 trillion debt by 2013 -- 2 years earlier than planned. The President emphasized that this debt reduction would be accomplished by protecting Social Security funds -- and dedicating the interest savings to Social Security, allowing the Social Security solvency to be extended past 2050. In contrast, the Republican lockbox plans in Congress fail to extend the life of Social Security by even one day. The President also announced that his budget will make Medicare secure through at least 2025.
"Calling the current system of Social Security benefits unsustainable, a top economic adviser to President Bush on Thursday strongly implied that any overhaul of the system would have to include major cuts in guaranteed benefits for future retirees."
"'Let me state clearly that there are no free lunches here,'
--The problem with this fuck's analysis is that Social Security benefits have already been largely paid for. So there's very little that is FREE about them. Rather, it is out of control federal spending on things like the military and war to which the comment "There's no such thing as a free lunch" should be addressed. Coupled with cuts in tax revenue through tax cuts on the rich and on corporations, this is a recipe for disaster.
What this fuck is really saying is this: There's no way we're ever gonna raise taxes on the rich or reign in our war plans. This is going to create deficits, and the way we are going to take care of those deficits is to cut into funds that have already been paid in to the Treasury for other purposes.
In other words, we're gonna steal from the Trust fund in order to fund our give-aways to corporations and war-profiteers.
"Calling the current system of Social Security benefits unsustainable, a top economic adviser to President Bush on Thursday strongly implied that any overhaul of the system would have to include major cuts in guaranteed benefits for future retirees."
"'Let me state clearly that there are no free lunches here,'
--The problem with this fuck's analysis is that Social Security benefits have already been largely paid for. So there's very little that is FREE about them. Rather, it is out of control federal spending on things like the military and war to which the comment "There's no such thing as a free lunch" should be addressed. Coupled with cuts in tax revenue through tax cuts on the rich and on corporations, this is a recipe for disaster.
What this fuck is really saying is this: There's no way we're ever gonna raise taxes on the rich or reign in our war plans. This is going to create deficits, and the way we are going to take care of those deficits is to cut into funds that have already been paid in to the Treasury for other purposes.
In other words, we're gonna steal from the Trust fund in order to fund our give-aways to corporations and war-profiteers.
Mankiw better hope that the whole 'secondary virginity' concept is embraced wholeheartedly by the economics community.
Mankiw better hope that the whole 'secondary virginity' concept is embraced wholeheartedly by the economics community.
mike in pr - I have been advising friends to move their 401k's to mainly Asian funds. Find one that has had solid growth the last couple years.
As far as cash, just advised my expat friend to open a Euro account.
Stocks - If you are going to own US stocks outright, make sure they get over half their revenue from international sales.
mike in pr - I have been advising friends to move their 401k's to mainly Asian funds. Find one that has had solid growth the last couple years.
As far as cash, just advised my expat friend to open a Euro account.
Stocks - If you are going to own US stocks outright, make sure they get over half their revenue from international sales.
...and keep shopping!
Indeed!
...and keep shopping!
Indeed!
Every time our currency weakened badly vis a vis all major currencies, we suffered from stagflation and high unemployment for several years which ended in a flurry of very high interest rate hikes.
This will be MUCH worse because our ruler is an insane idiot.
Every time our currency weakened badly vis a vis all major currencies, we suffered from stagflation and high unemployment for several years which ended in a flurry of very high interest rate hikes.
This will be MUCH worse because our ruler is an insane idiot.
Congress has been stealing money out of the SS Trust Fund for years.
Congress has been stealing money out of the SS Trust Fund for years.
The rest of the world will have to react soon. Bushco's irresponsibilty in letting the American dollar slide to historic lows is playing havoc with economies around the world.
While helping US exports (making American products cheaper - yet not affecting the trade imbalance) it is throwing major balancing problems onto the backs of other countries. International adjustments will need to be undertaken. Exactly what those are, I can't say, but I think a re-eximination of using the dollar as the currency of international commerce is one thing other countries be looking at.
The rest of the world will have to react soon. Bushco's irresponsibilty in letting the American dollar slide to historic lows is playing havoc with economies around the world.
While helping US exports (making American products cheaper - yet not affecting the trade imbalance) it is throwing major balancing problems onto the backs of other countries. International adjustments will need to be undertaken. Exactly what those are, I can't say, but I think a re-eximination of using the dollar as the currency of international commerce is one thing other countries be looking at.
So ultimately, bb, the US is screwed in the long term unless it changes its mind on its present econ policy?
So ultimately, bb, the US is screwed in the long term unless it changes its mind on its present econ policy?
Damn it, isn't there some country we can invade to stop this?
Damn it, isn't there some country we can invade to stop this?
Since another thread was about schadenfreude, it has been amusing to me to watch some of the "chainsaw al" types who flourished during the gogo 90's take it in the hindquarters. One was the ceo of Cypress Semiconductors who was famous for insulting a nun when she asked him to make his corporation and board more socially diverse to help American society. Cypress has had its stock downgraded since the techbubble burst so take that Mr. Nun Insulter.
Since another thread was about schadenfreude, it has been amusing to me to watch some of the "chainsaw al" types who flourished during the gogo 90's take it in the hindquarters. One was the ceo of Cypress Semiconductors who was famous for insulting a nun when she asked him to make his corporation and board more socially diverse to help American society. Cypress has had its stock downgraded since the techbubble burst so take that Mr. Nun Insulter.
OT:
Does anyone know whether this is a record for administration resignations for the second term?
OT:
Does anyone know whether this is a record for administration resignations for the second term?
This is only funny because the Republicans are supposed to be the party of fiscal responsibility. More and more I believe Bush must be the Anti-Christ. No one has the balls to stand up to him. He is the worst president in American history. Even worse, he's a mockery of a sham of a fraud of the worst president.
This is only funny because the Republicans are supposed to be the party of fiscal responsibility. More and more I believe Bush must be the Anti-Christ. No one has the balls to stand up to him. He is the worst president in American history. Even worse, he's a mockery of a sham of a fraud of the worst president.
NTodd, I believe that would be this country. Thank you kindly.
NTodd, I believe that would be this country. Thank you kindly.
Lisa - Kevin Drum had a post up about a week ago showing the resignations by administration in the last 40 years or so. I think 6-8 was the previous average, but the cabinet is bigger now.
Lisa - Kevin Drum had a post up about a week ago showing the resignations by administration in the last 40 years or so. I think 6-8 was the previous average, but the cabinet is bigger now.
Obviously those people who use the Euro are terrorists trying to undermine the American way of life, they hate us for our freedoms. We have plans in place for the invasion of Europe in 2006.
Obviously those people who use the Euro are terrorists trying to undermine the American way of life, they hate us for our freedoms. We have plans in place for the invasion of Europe in 2006.
But...112K jobs have been added!
But...112K jobs have been added!
You know that every time a member of Bush economic team watches "It's a Wonderful Life" they root for Mr. Potter. It's a fact.
You know that every time a member of Bush economic team watches "It's a Wonderful Life" they root for Mr. Potter. It's a fact.
Lisa:
With the resignation of Tommy Thompson it is the most resignations in the past 100 years.
Lisa:
With the resignation of Tommy Thompson it is the most resignations in the past 100 years.
You've missed the point.
As the dollar crashes, and it's dropped 5.22% since the election, money flees.
In order to bring money back, interest rates have to be raised.
Visualize 12% mortgage rates.
Visualize home prices stagnant or falling.
Visualize NO home equity driven spending.
It will look like 1929
You've missed the point.
As the dollar crashes, and it's dropped 5.22% since the election, money flees.
In order to bring money back, interest rates have to be raised.
Visualize 12% mortgage rates.
Visualize home prices stagnant or falling.
Visualize NO home equity driven spending.
It will look like 1929
Lisa: read somewhere that there haven't been this many in like 100 years. I think Kevin Drum has the lowdown.
OT, what is wrong with this picture?
• The late California state Sen. Pete Knight who spearheaded the ultimately successful Proposition 22 that bans gay marriage in California, has a gay son, David.
• Phyllis Schlafly, founder of the conservative Eagle Forum who was instrumental in drafting the Republican Party platform language opposing gay marriage and civil unions, has a gay son, John.
• Tim and Beverly LaHaye, of the "Left Behind" series and "Concerned Women for America" have a gay son, Lee, who also serves as the CWA's Chief Financial Officer.
• Anti-gay rights and pro-life activist Randall Terry, has a gay son, Jamiel.
• Sadie Fields, state chair of the Christian Coalition of Georgia, who helped push the constitutional ban on gay marriage, has a gay daughter, Tess.
• Bill Byrne, who was head of the Cobb County Commission in 1993 when it passed a resolution proclaiming “the homosexual lifestyle” unwelcome in the suburban Atlanta community, has a lesbian daughter Shannon.
• Recent rumors indicate that Alan Keyes' 19-year old daughter Maya is a lesbian and has her own weblog in which she openly discusses her sexuality.
Why do the fundies hate their children so much?
Lisa: read somewhere that there haven't been this many in like 100 years. I think Kevin Drum has the lowdown.
OT, what is wrong with this picture?
• The late California state Sen. Pete Knight who spearheaded the ultimately successful Proposition 22 that bans gay marriage in California, has a gay son, David.
• Phyllis Schlafly, founder of the conservative Eagle Forum who was instrumental in drafting the Republican Party platform language opposing gay marriage and civil unions, has a gay son, John.
• Tim and Beverly LaHaye, of the "Left Behind" series and "Concerned Women for America" have a gay son, Lee, who also serves as the CWA's Chief Financial Officer.
• Anti-gay rights and pro-life activist Randall Terry, has a gay son, Jamiel.
• Sadie Fields, state chair of the Christian Coalition of Georgia, who helped push the constitutional ban on gay marriage, has a gay daughter, Tess.
• Bill Byrne, who was head of the Cobb County Commission in 1993 when it passed a resolution proclaiming “the homosexual lifestyle” unwelcome in the suburban Atlanta community, has a lesbian daughter Shannon.
• Recent rumors indicate that Alan Keyes' 19-year old daughter Maya is a lesbian and has her own weblog in which she openly discusses her sexuality.
Why do the fundies hate their children so much?
Chimpy's fly was undone in front of Puttie?
Don't forget Poland!
and those Pell Grants!
OUR LEADER!
Chimpy's fly was undone in front of Puttie?
Don't forget Poland!
and those Pell Grants!
OUR LEADER!
Interest rates are definately going to go up, maybe not 1929 but somewhere closer to 1979 for sure.
Interest rates are definately going to go up, maybe not 1929 but somewhere closer to 1979 for sure.
Wow. Yahoo lets you plot multiple currencies trendlines. Scary!
Wow. Yahoo lets you plot multiple currencies trendlines. Scary!
Hell, if I were a member of the simian cabinet, I'd resign, too. Who in their right mind would want to be associated with the colossal fuck up that will be known as the simian's legacy?
Hell, if I were a member of the simian cabinet, I'd resign, too. Who in their right mind would want to be associated with the colossal fuck up that will be known as the simian's legacy?
OT: Michigan governor Jennifer Granholm suspended benefits for same-sex couples today, even though the recent amendment supposedly was only intended to address marriage not benefits. Way to be a courageous leader, Jen! What a disappointment the Democratic Party is every single day.
This, on top of every other insult, is just too much.
I'm done with the Dem party.
I guess I'll just have to stock up on ammunition and get ready to defend my family from the fascists.
OT: Michigan governor Jennifer Granholm suspended benefits for same-sex couples today, even though the recent amendment supposedly was only intended to address marriage not benefits. Way to be a courageous leader, Jen! What a disappointment the Democratic Party is every single day.
This, on top of every other insult, is just too much.
I'm done with the Dem party.
I guess I'll just have to stock up on ammunition and get ready to defend my family from the fascists.
If everyone leaves the ship then that will mean we will only have Herr Bush in the Administrative Branch, right?
If everyone leaves the ship then that will mean we will only have Herr Bush in the Administrative Branch, right?
He is the worst president in American history.
But you still wanna have a beer with him, right?
(crickets)
He is the worst president in American history.
But you still wanna have a beer with him, right?
(crickets)
All those people who took out variable interest rates on their home mortgages in the 90's are about to be truly screwed. I wonder how many of them voted for W?
All those people who took out variable interest rates on their home mortgages in the 90's are about to be truly screwed. I wonder how many of them voted for W?
"If bush accidentally dropped an atomic bomb on an american city, the trolls would say...
"'Yeah, but it did kill all the cockroaches.'
four legs good 12.03.04 - 1:46 pm
The first thing they'd do is a quick Democrat to Republican kill ratio.
"If bush accidentally dropped an atomic bomb on an american city, the trolls would say...
"'Yeah, but it did kill all the cockroaches.'
four legs good 12.03.04 - 1:46 pm
The first thing they'd do is a quick Democrat to Republican kill ratio.
NTodd, I believe that would be this country. Thank you kindly.
Sounds like a good plan--they're so close by, afterall.
NTodd, I believe that would be this country. Thank you kindly.
Sounds like a good plan--they're so close by, afterall.
wt, I'd have a beer and a few pointed questions with him, if only...
wt, I'd have a beer and a few pointed questions with him, if only...
But who cares about the economy when we can voyaristically listen to a hot school teacher make a 'pinky promise' about sex with a minor student?
Get your priorities in line with the red states people.
But who cares about the economy when we can voyaristically listen to a hot school teacher make a 'pinky promise' about sex with a minor student?
Get your priorities in line with the red states people.
Weren't the pundits extolling Jennifer Granholm's virtues during the Dem. Convention? How she was the new "it" girl in the Democratic Party?
more like "shit" girl.
Weren't the pundits extolling Jennifer Granholm's virtues during the Dem. Convention? How she was the new "it" girl in the Democratic Party?
more like "shit" girl.
I read something here on the net -- some boocoo % of all loaned money is tied up financing our current accounts deficit.
There's a saying. "If you miss a $100 dollar payment, you've got a problem with the bank. If you miss $100,000,000 payment, the bank has a problem." So, if we're short $600,000,000,000.00, the world has a problem.
I read something here on the net -- some boocoo % of all loaned money is tied up financing our current accounts deficit.
There's a saying. "If you miss a $100 dollar payment, you've got a problem with the bank. If you miss $100,000,000 payment, the bank has a problem." So, if we're short $600,000,000,000.00, the world has a problem.
Seraphiel and TJ,
The news about the actions of our fair governor here in Michigan is extremely disappointing. I do know that it wasn't even a month after the election when the conservative Republicans in the state congress were pushing this issue as a "mandate." I can't believe Jen went along with it. It just makes me sick.
And to add insult to injury, read the following:
AIDS higher in married women
Seraphiel and TJ,
The news about the actions of our fair governor here in Michigan is extremely disappointing. I do know that it wasn't even a month after the election when the conservative Republicans in the state congress were pushing this issue as a "mandate." I can't believe Jen went along with it. It just makes me sick.
And to add insult to injury, read the following:
AIDS higher in married women
I bought as many euros as I could just yesterday day (not that many, I'm not rich) and already I'm making money... the overnight return on it was more than a month's interest on the same cash in a CD! Great rate of return, but scary - VERY SCARY that our currency is swirling around like water in the proverbial toilet of international finance.
If you have cash sitting in a bank account, it would be very prudent to put it into euro's - even if you don't have the 10000 eur. or whatever to buy German Bonds or other interest bearing investments, just holding cash reserves in euros will keep it significantly ahead of dollars in cash.
I mean, it seems the forex optimists see $1.70/1 eur. as a good outcome in a year, as opposed to a "chaotic panic" that could go who knows where. One thing's for sure, that the dollar isn't heading up anytime soon, except on an inverted chart.
The next psychological benchmark is $1.35/1 euro.... if the European central banks don't buy Treasuries to stop the fall past that point, the bottom could very well fall out.
I bought as many euros as I could just yesterday day (not that many, I'm not rich) and already I'm making money... the overnight return on it was more than a month's interest on the same cash in a CD! Great rate of return, but scary - VERY SCARY that our currency is swirling around like water in the proverbial toilet of international finance.
If you have cash sitting in a bank account, it would be very prudent to put it into euro's - even if you don't have the 10000 eur. or whatever to buy German Bonds or other interest bearing investments, just holding cash reserves in euros will keep it significantly ahead of dollars in cash.
I mean, it seems the forex optimists see $1.70/1 eur. as a good outcome in a year, as opposed to a "chaotic panic" that could go who knows where. One thing's for sure, that the dollar isn't heading up anytime soon, except on an inverted chart.
The next psychological benchmark is $1.35/1 euro.... if the European central banks don't buy Treasuries to stop the fall past that point, the bottom could very well fall out.
Weren't the pundits extolling Jennifer Granholm's virtues during the Dem. Convention?
Yep, that's what makes it so vomit-inducing. Although not quite as bad as Atrios' new post. We are reaching new depths of ipecac here in the good 'ol US of A.
Weren't the pundits extolling Jennifer Granholm's virtues during the Dem. Convention?
Yep, that's what makes it so vomit-inducing. Although not quite as bad as Atrios' new post. We are reaching new depths of ipecac here in the good 'ol US of A.
I wonder if it wouldn't be prudent to purchase Canadian dollars at this point.
Can$ to US$
Right now it is ~$.85 to the US$1. You can at least get it at a discount. The way it is rising, it may switch and then you could turn a profit.
Of course that all depends on Can$ not being underminded by US economic activity.
I wonder if it wouldn't be prudent to purchase Canadian dollars at this point.
Can$ to US$
Right now it is ~$.85 to the US$1. You can at least get it at a discount. The way it is rising, it may switch and then you could turn a profit.
Of course that all depends on Can$ not being underminded by US economic activity.
Sorry, that should be US$.85 to Can$1
Sorry, that should be US$.85 to Can$1
why do I never post until a new thread pops up??
why do I never post until a new thread pops up??
Question. The euro is rising against the dollar, but the US doesn't export much. And what it does export tends to be Real Big Ticket items (nuclear reactors, 747s, things like that.) The Euro's rise can't create factories in America to produce things for the export market. So, even though Europe's on the short end of the stick, isn't it simply more likely that the US importers will simply pay more for European goods they need and do without the ones they can't?
Question. The euro is rising against the dollar, but the US doesn't export much. And what it does export tends to be Real Big Ticket items (nuclear reactors, 747s, things like that.) The Euro's rise can't create factories in America to produce things for the export market. So, even though Europe's on the short end of the stick, isn't it simply more likely that the US importers will simply pay more for European goods they need and do without the ones they can't?
why do I never post until a new thread pops up??
why do I never post until a new thread pops up??
High Euro is good! Donald Trump told me so! He said to put all of my "precious metals" into vacation homes so Euros can spend their money here. Of course, he is in chapter 11 but still, the way he says "You're fired" is so dreamy I wet myself.
High Euro is good! Donald Trump told me so! He said to put all of my "precious metals" into vacation homes so Euros can spend their money here. Of course, he is in chapter 11 but still, the way he says "You're fired" is so dreamy I wet myself.
Even though oil is still technically quoted in dollars, over the last few years its price correlation with euros shows that the mideast is already unoffically valuing it in euros. Net/net - a strong euro means gas prices will stay up over the long term.
Even though oil is still technically quoted in dollars, over the last few years its price correlation with euros shows that the mideast is already unoffically valuing it in euros. Net/net - a strong euro means gas prices will stay up over the long term.
'Let me state clearly that there are no free lunches here,'
Then why the fuck have I been paying for my free lunch since 1976?
Time to stop paying for something that I'll never get...
'Let me state clearly that there are no free lunches here,'
Then why the fuck have I been paying for my free lunch since 1976?
Time to stop paying for something that I'll never get...
Heard T.R. Reed talking about his new book today, "The United States of Europe." His theme: we are being lapped and Europe is increasingly calling the shots, as the shift from dollars to euros demonstrates. A weakening dollar my buy chimp short time but in the long run, it's bad news.
Heard T.R. Reed talking about his new book today, "The United States of Europe." His theme: we are being lapped and Europe is increasingly calling the shots, as the shift from dollars to euros demonstrates. A weakening dollar my buy chimp short time but in the long run, it's bad news.
Gold is the way to go in my opinion.
But my local Safeway doesn't accept gold.
Gold is the way to go in my opinion.
But my local Safeway doesn't accept gold.
Jesse
I prepaid a Canadian holiday in spring by buying Canadian dollars a few weeks ago.
Canadian dollar is getting stronger against the US dollar...now around where it was in 1991, I think.
Jesse
I prepaid a Canadian holiday in spring by buying Canadian dollars a few weeks ago.
Canadian dollar is getting stronger against the US dollar...now around where it was in 1991, I think.
Jeffrey DAvis
don't know the answer to your question, but as many US manufactured goods have parts that are manufactured abroad (cars, for example), input costs may still go up for such goods, reducing the potential export benefit of a cheaper dollar.
Jeffrey DAvis
don't know the answer to your question, but as many US manufactured goods have parts that are manufactured abroad (cars, for example), input costs may still go up for such goods, reducing the potential export benefit of a cheaper dollar.
Steve Forbes in the 12/13/04 Forbes:
The Administration and the Federal Reserve had better act soon to short up the U.S. dollar. The dollar is deteriorating almost daily against the euro and the yen. A panic attack on greenbacks is imminent if the Fed doesn't act soon to mop up excess liquidity. The last thing we need right now is a currency crisis[....]
Steve Forbes in the 12/13/04 Forbes:
The Administration and the Federal Reserve had better act soon to short up the U.S. dollar. The dollar is deteriorating almost daily against the euro and the yen. A panic attack on greenbacks is imminent if the Fed doesn't act soon to mop up excess liquidity. The last thing we need right now is a currency crisis[....]
David Austin - there is every likelihood that the Cdn government may intervene. A Cdn$ as high as it is is terrible for the Canadian economy which is only now showing signs of absolute strength. I don't really know if they can intervene effectively. And I still say, right now, buy property. Buy it here, buy it in Canada or Roumania, or Trieste, but only if you can get a fixed rate mortgage of course. That's just me I think.
David Austin - there is every likelihood that the Cdn government may intervene. A Cdn$ as high as it is is terrible for the Canadian economy which is only now showing signs of absolute strength. I don't really know if they can intervene effectively. And I still say, right now, buy property. Buy it here, buy it in Canada or Roumania, or Trieste, but only if you can get a fixed rate mortgage of course. That's just me I think.
"to short up"
WTF?
"to short up"
WTF?
Moosehall is paid for! We own outright our cars and bikes, and we have some money in the bank. Maybe this will finally pay off!
They all laughed at the Mooses when we refused to refinance, or go into debt.
Sorta scared about switching to Euros for savings.
Oh well, Bush just gives me the feeling I'm screwed no matter what I do.
Moosehall is paid for! We own outright our cars and bikes, and we have some money in the bank. Maybe this will finally pay off!
They all laughed at the Mooses when we refused to refinance, or go into debt.
Sorta scared about switching to Euros for savings.
Oh well, Bush just gives me the feeling I'm screwed no matter what I do.
Do not mock the mighty dollar! What can one do with those blasted Euros anyway? Can't buy a Krabby Patty, sure as Davey Jones' Locker's at the bottom of the sea.
Do not mock the mighty dollar! What can one do with those blasted Euros anyway? Can't buy a Krabby Patty, sure as Davey Jones' Locker's at the bottom of the sea.
The Canadian dollar hit a 12 year high aganst the USD today.
Good thing you don't us or our billion dollars a day in trade, eh Tucker Carlson (you dick)?
The Canadian dollar hit a 12 year high aganst the USD today.
Good thing you don't us or our billion dollars a day in trade, eh Tucker Carlson (you dick)?
Sorry, that should be US$.85 to Can$1
JUMPIN' JESUS ON A JUKEBOX
the Looney is loose!
.
Sorry, that should be US$.85 to Can$1
JUMPIN' JESUS ON A JUKEBOX
the Looney is loose!
.
He is the worst president in American history. Even worse, he's a mockery of a sham of a fraud of the worst president.
victor lazlo |
Same lazlo who was a DJ for the underground network?
Those were great days in the mid90s- a radio station that broadcast Lonon and new york Simultaneously...
And the political posts made there were so dead-on accurate. You know at that time diebold was making inroads and the DJ had a lot to say about it...
He is the worst president in American history. Even worse, he's a mockery of a sham of a fraud of the worst president.
victor lazlo |
Same lazlo who was a DJ for the underground network?
Those were great days in the mid90s- a radio station that broadcast Lonon and new york Simultaneously...
And the political posts made there were so dead-on accurate. You know at that time diebold was making inroads and the DJ had a lot to say about it...
Strategies such as "I have a few euros left over from last time I was in France" or "I think some of my pension fund is in euros" will only get you so far. The only sure-fire safety net is to have a wealthy parent or grandparent who lives in Europe (and make sure you're a beneficiary in their will, of course.)
Strategies such as "I have a few euros left over from last time I was in France" or "I think some of my pension fund is in euros" will only get you so far. The only sure-fire safety net is to have a wealthy parent or grandparent who lives in Europe (and make sure you're a beneficiary in their will, of course.)
something Wingnuts don't understand
all over Europe especially east Europe and Russia there are people with loads of dollars stuff in coffee cans and underneath mattresses - for years Dollars was used as black market currency the US made billions and billions from all those dollars floating around the world outside the US if those people start cashing in their dollars it is bad news.. a strong euro is going to replace US currency
something Wingnuts don't understand
all over Europe especially east Europe and Russia there are people with loads of dollars stuff in coffee cans and underneath mattresses - for years Dollars was used as black market currency the US made billions and billions from all those dollars floating around the world outside the US if those people start cashing in their dollars it is bad news.. a strong euro is going to replace US currency
Weren't the pundits extolling Jennifer Granholm's virtues during the Dem. Convention?
That's it. I'm becoming a Glib.
Weren't the pundits extolling Jennifer Granholm's virtues during the Dem. Convention?
That's it. I'm becoming a Glib.
Interesting stuff re. Buffet and Soros and the dollar from a fall 2004 report:
http://www.wallstreetwindow.com/...om/
usdollar.htm
In June of 2003 billionaire George Soros publicly disclosed that he had built a massive short position against the US dollar. Three months later his former partner, Jim Rogers, recommended that people buy gold to hedge themselves. “Greenspan is doing his best to prolong the bubble – driving interest rates down, printing money as fast as he can and debasing the currency,” he said. Both have subsequently increased their positions.
Then in October of 2003, Warren Buffet, the most famous investor in America, announced that he had bought a basket of foreign currencies to profit from a coming decline in the dollar. Although he didn’t disclose the size of his position he called it “massive” and noted that it was the first time he ever bought a single foreign currency. Buffett has an uncanny habit of making money in the stock market. In May of 2002 he bought $600 million dollars worth of puts on the S&P 500 that exploded in value when the stock market tanked later that summer.
He is now warning of an impending dollar crisis that could last for years. “Our country’s net worth so to speak, is now being transferred abroad at an alarming rate,” he said. “In effect,” he warned, “our country has been behaving like an extraordinary rich family that possesses an immense farm. In order to consume 4% more than we produce – that’s the trade deficit – we have day by day, been both selling pieces of the farm and increase the mortgage on what we still own."
Interesting stuff re. Buffet and Soros and the dollar from a fall 2004 report:
http://www.wallstreetwindow.com/...om/
usdollar.htm
In June of 2003 billionaire George Soros publicly disclosed that he had built a massive short position against the US dollar. Three months later his former partner, Jim Rogers, recommended that people buy gold to hedge themselves. “Greenspan is doing his best to prolong the bubble – driving interest rates down, printing money as fast as he can and debasing the currency,” he said. Both have subsequently increased their positions.
Then in October of 2003, Warren Buffet, the most famous investor in America, announced that he had bought a basket of foreign currencies to profit from a coming decline in the dollar. Although he didn’t disclose the size of his position he called it “massive” and noted that it was the first time he ever bought a single foreign currency. Buffett has an uncanny habit of making money in the stock market. In May of 2002 he bought $600 million dollars worth of puts on the S&P 500 that exploded in value when the stock market tanked later that summer.
He is now warning of an impending dollar crisis that could last for years. “Our country’s net worth so to speak, is now being transferred abroad at an alarming rate,” he said. “In effect,” he warned, “our country has been behaving like an extraordinary rich family that possesses an immense farm. In order to consume 4% more than we produce – that’s the trade deficit – we have day by day, been both selling pieces of the farm and increase the mortgage on what we still own."
Sorry, thought I had done some italics up there but I must have dropped a tag.
Sorry, thought I had done some italics up there but I must have dropped a tag.
Chart Not Available? Are we trying to divide the Euro by the Dollar? (div by 0 :-p)
Chart Not Available? Are we trying to divide the Euro by the Dollar? (div by 0 :-p)
Boy, am I glad I held onto some Euros from this summer's tour season.
Boy, am I glad I held onto some Euros from this summer's tour season.
"In the grand pantheon of airport hassles this was no big deal."
Atrios, glad you have a sense of detachment from this. Maybe someone should write a definitive guide on the reverse psychology (perverse pyschology?) of US Customs agents.
My wife and I had a chance to do some traveling the past couple of years. On the return custom forms, you're supposed to put a detailed list of items. We did that the first time we returned to the U.S., staying up late the night before our flight to check our receipts and make sure everything was correct. Of course, we got hassled and questioned about it.
Next time, we followed something a Fed Ex person had happened to show us. We just wrote one line, "Miscellaneous gifts," and made up a round number dollar figure. Sailed right through customs that time.
"In the grand pantheon of airport hassles this was no big deal."
Atrios, glad you have a sense of detachment from this. Maybe someone should write a definitive guide on the reverse psychology (perverse pyschology?) of US Customs agents.
My wife and I had a chance to do some traveling the past couple of years. On the return custom forms, you're supposed to put a detailed list of items. We did that the first time we returned to the U.S., staying up late the night before our flight to check our receipts and make sure everything was correct. Of course, we got hassled and questioned about it.
Next time, we followed something a Fed Ex person had happened to show us. We just wrote one line, "Miscellaneous gifts," and made up a round number dollar figure. Sailed right through customs that time.
If the dollar is a submarine
135 to the Euro:
Danger zone not real crisis if an immediate emergency remedy like blowing the balast is done. Bush could say, "Heh I've fucked up. These tax cuts are causing dangerous deficits that are devaluing the dollar, besides they did not create any jobs anyway.
There for I am puckering my lips, twitching my nose, wiggling my ears, flapping my arms, spreading my legs, parting my butt cheeks, moving my bowels... Oh hell I am raising taxes." Not likely heh?
140 To the Euro:
Major danger Zone. Approaching depth at which submarine will have trouble blowing tanks. Only hope is that Foreign Central Banks like China will throw away the future retirement savings of their population by buying lots more dollars. "Crazy Chinamen please save us!!!" China to US. "Toughy Rucky."
145 To the Euro:
Crush Depth. The bolts are popping on the Sub. The lights are flickering. Water is coming in. Every private bank and investor holding dollars is selling, Central Banks can't or won't pick up the slack. Only hope now is that Dubya signs a way the Sovereignty of the US Treasury. But, the US refuses to humble itself like a Mexico or Argentina before the IMF and beg for a bailout while we reform our ways. Right-wing attempts to slash the deficit with massive social spending cuts is met with strong public outcry. Will Bush now consider raising taxes on the rich?? No way he has too much principle.
150 to the Euro.
The Sub Implodes, Interest Rates soar. Fannie Mae and Freddie Mac go bust. Housing Values plummet as the Housing Bubble explodes. Credit card interest rates are higher than the Mafia's. Unemployment hits 15%+. We have to buy Euros to buy oil, Gas is $3.00 a gallon. Bush goes into hiding for his own protection. Moderate Republicans are forced to leave the party or face certain defeat. Stalemate in the Congress as the Right-wing refuses to act responibly. But its a long way to 2006 when the Democrats take back the House and Senate. 2007 Bush is impeached.
If the dollar is a submarine
135 to the Euro:
Danger zone not real crisis if an immediate emergency remedy like blowing the balast is done. Bush could say, "Heh I've fucked up. These tax cuts are causing dangerous deficits that are devaluing the dollar, besides they did not create any jobs anyway.
There for I am puckering my lips, twitching my nose, wiggling my ears, flapping my arms, spreading my legs, parting my butt cheeks, moving my bowels... Oh hell I am raising taxes." Not likely heh?
140 To the Euro:
Major danger Zone. Approaching depth at which submarine will have trouble blowing tanks. Only hope is that Foreign Central Banks like China will throw away the future retirement savings of their population by buying lots more dollars. "Crazy Chinamen please save us!!!" China to US. "Toughy Rucky."
145 To the Euro:
Crush Depth. The bolts are popping on the Sub. The lights are flickering. Water is coming in. Every private bank and investor holding dollars is selling, Central Banks can't or won't pick up the slack. Only hope now is that Dubya signs a way the Sovereignty of the US Treasury. But, the US refuses to humble itself like a Mexico or Argentina before the IMF and beg for a bailout while we reform our ways. Right-wing attempts to slash the deficit with massive social spending cuts is met with strong public outcry. Will Bush now consider raising taxes on the rich?? No way he has too much principle.
150 to the Euro.
The Sub Implodes, Interest Rates soar. Fannie Mae and Freddie Mac go bust. Housing Values plummet as the Housing Bubble explodes. Credit card interest rates are higher than the Mafia's. Unemployment hits 15%+. We have to buy Euros to buy oil, Gas is $3.00 a gallon. Bush goes into hiding for his own protection. Moderate Republicans are forced to leave the party or face certain defeat. Stalemate in the Congress as the Right-wing refuses to act responibly. But its a long way to 2006 when the Democrats take back the House and Senate. 2007 Bush is impeached.
If the dollar is a submarine
135 to the Euro:
Danger zone not real crisis if an immediate emergency remedy like blowing the balast is done. Bush could say, "Heh I've fucked up. These tax cuts are causing dangerous deficits that are devaluing the dollar, besides they did not create any jobs anyway.
There for I am puckering my lips, twitching my nose, wiggling my ears, flapping my arms, spreading my legs, parting my butt cheeks, moving my bowels... Oh hell I am raising taxes." Not likely heh?
140 To the Euro:
Major danger Zone. Approaching depth at which submarine will have trouble blowing tanks. Only hope is that Foreign Central Banks like China will throw away the future retirement savings of their population by buying lots more dollars. "Crazy Chinamen please save us!!!" China to US. "Toughy Rucky."
145 To the Euro:
Crush Depth. The bolts are popping on the Sub. The lights are flickering. Water is coming in. Every private bank and investor holding dollars is selling, Central Banks can't or won't pick up the slack. Only hope now is that Dubya signs a way the Sovereignty of the US Treasury. But, the US refuses to humble itself like a Mexico or Argentina before the IMF and beg for a bailout while we reform our ways. Right-wing attempts to slash the deficit with massive social spending cuts is met with strong public outcry. Will Bush now consider raising taxes on the rich?? No way he has too much principle.
150 to the Euro.
The Sub Implodes, Interest Rates soar. Fannie Mae and Freddie Mac go bust. Housing Values plummet as the Housing Bubble explodes. Credit card interest rates are higher than the Mafia's. Unemployment hits 15%+. We have to buy Euros to buy oil, Gas is $3.00 a gallon. Bush goes into hiding for his own protection. Moderate Republicans are forced to leave the party or face certain defeat. Stalemate in the Congress as the Right-wing refuses to act responibly. But its a long way to 2006 when the Democrats take back the House and Senate. 2007 Bush is impeached.
If the dollar is a submarine
135 to the Euro:
Danger zone not real crisis if an immediate emergency remedy like blowing the balast is done. Bush could say, "Heh I've fucked up. These tax cuts are causing dangerous deficits that are devaluing the dollar, besides they did not create any jobs anyway.
There for I am puckering my lips, twitching my nose, wiggling my ears, flapping my arms, spreading my legs, parting my butt cheeks, moving my bowels... Oh hell I am raising taxes." Not likely heh?
140 To the Euro:
Major danger Zone. Approaching depth at which submarine will have trouble blowing tanks. Only hope is that Foreign Central Banks like China will throw away the future retirement savings of their population by buying lots more dollars. "Crazy Chinamen please save us!!!" China to US. "Toughy Rucky."
145 To the Euro:
Crush Depth. The bolts are popping on the Sub. The lights are flickering. Water is coming in. Every private bank and investor holding dollars is selling, Central Banks can't or won't pick up the slack. Only hope now is that Dubya signs a way the Sovereignty of the US Treasury. But, the US refuses to humble itself like a Mexico or Argentina before the IMF and beg for a bailout while we reform our ways. Right-wing attempts to slash the deficit with massive social spending cuts is met with strong public outcry. Will Bush now consider raising taxes on the rich?? No way he has too much principle.
150 to the Euro.
The Sub Implodes, Interest Rates soar. Fannie Mae and Freddie Mac go bust. Housing Values plummet as the Housing Bubble explodes. Credit card interest rates are higher than the Mafia's. Unemployment hits 15%+. We have to buy Euros to buy oil, Gas is $3.00 a gallon. Bush goes into hiding for his own protection. Moderate Republicans are forced to leave the party or face certain defeat. Stalemate in the Congress as the Right-wing refuses to act responibly. But its a long way to 2006 when the Democrats take back the House and Senate. 2007 Bush is impeached.
A falling dollar can help exports, but the relative currency advantage is not nearly enough to offset the slave labor wages paid around much of the world.
Just accept the fact that even though you received a small tax break, ALL of your money is worth less because of the deficits the tax breaks caused and imports, including oil, costs more. Thanks alot george.
OT: Did anyone else catch O'Riely on his radio today say he talked to children on the internet when he was writing his childrens book? I wonder if their parent know!!!
A falling dollar can help exports, but the relative currency advantage is not nearly enough to offset the slave labor wages paid around much of the world.
Just accept the fact that even though you received a small tax break, ALL of your money is worth less because of the deficits the tax breaks caused and imports, including oil, costs more. Thanks alot george.
OT: Did anyone else catch O'Riely on his radio today say he talked to children on the internet when he was writing his childrens book? I wonder if their parent know!!!
I'm late to this party but I will try my best to sound intelligent....
When the dollar falls, the value of EVERY dollar denominated asset falls - real estate, equities, debt. Capital will always flow to the best rate of return.. NOBODY is going to invest in a declining asset.. Dollars, US Treasuries, etc. Which means the US is going to have to give up a hell of a lot to sell bonds as long as fucking MONKEY BOY is driving the country into the ground.. Dark days ahead.
WORST. PRESIDENT. EVER.
I'm late to this party but I will try my best to sound intelligent....
When the dollar falls, the value of EVERY dollar denominated asset falls - real estate, equities, debt. Capital will always flow to the best rate of return.. NOBODY is going to invest in a declining asset.. Dollars, US Treasuries, etc. Which means the US is going to have to give up a hell of a lot to sell bonds as long as fucking MONKEY BOY is driving the country into the ground.. Dark days ahead.
WORST. PRESIDENT. EVER.
You know, 2 cents doesn't seem like a lot but then you realize that it happened over the course of a day and how quickly 2 cents adds up to huge differences.
*vomits*
You know, 2 cents doesn't seem like a lot but then you realize that it happened over the course of a day and how quickly 2 cents adds up to huge differences.
*vomits*
check out the graphs at www.kitco.com
look at gold/dollar over the last three years
then click on the button and buy some gold.
check out the graphs at www.kitco.com
look at gold/dollar over the last three years
then click on the button and buy some gold.
I used to live in Argentina (before the crash) and still have friends there. A lot of those kept dollar accounts and fondly believed that they were immune against currency risk because their savings were in dollar-denominated accounts. And then - bang - when the crisis came, the banks simply refused to give them their dollars and would only pay out measly amounts of pesos, essentially stealing my friends' savings by this involuntary conversion. What makes you think that such a think could not happen in the USA if things get bad enough?
I used to live in Argentina (before the crash) and still have friends there. A lot of those kept dollar accounts and fondly believed that they were immune against currency risk because their savings were in dollar-denominated accounts. And then - bang - when the crisis came, the banks simply refused to give them their dollars and would only pay out measly amounts of pesos, essentially stealing my friends' savings by this involuntary conversion. What makes you think that such a think could not happen in the USA if things get bad enough?
Okay, let me see if I have this straight and remember I'm just looking at the chart as posted, okay?
Between roughly 11:30am and 4:30pm on December 4, the dollar gained 1/100 of one cent against the Euro.
Between roughly 4:30pm and 9:40pm the same day, the dollar lost 1/100 of one cent against the Euro, to wind up back where it was that morning.
And the point here is...?
Okay, let me see if I have this straight and remember I'm just looking at the chart as posted, okay?
Between roughly 11:30am and 4:30pm on December 4, the dollar gained 1/100 of one cent against the Euro.
Between roughly 4:30pm and 9:40pm the same day, the dollar lost 1/100 of one cent against the Euro, to wind up back where it was that morning.
And the point here is...?
What makes you think that such a think could not happen in the USA if things get bad enough?
Few American banks keep a lot of pesos around?
What makes you think that such a think could not happen in the USA if things get bad enough?
Few American banks keep a lot of pesos around?
The graph shows the euro shot up a shocking 0.21% in intra-day trading before falling to approximately half that before the close.
Math wasn't your speciality in grade school?
The graph shows the euro shot up a shocking 0.21% in intra-day trading before falling to approximately half that before the close.
Math wasn't your speciality in grade school?
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