Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

It's looking pretty ugly for the US dollar this morning.

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread		 This topic is archived.
Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
 
roamer65 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 10:32 AM
Original message
It's looking pretty ugly for the US dollar this morning.
I haven't seen exchange rates this bad in YEARS.

http://www.xe.com

http://investing.reuters.co.uk/news/articleinvesting.aspx?type=goldMktRpt&storyID=2007-07-10T141200Z_01_L10934141_RTRIDST_0_MARKETS-PRECIOUS-UPDATE-4.XML

I think we're right on the edge of a dollar crisis.
Printer Friendly | Permalink |  | Top
ORDagnabbit Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 10:39 AM
Response to Original message
1. Heres a cool vid to watch to help explain the roots of this....
http://www.moneyasdebt.net/
Printer Friendly | Permalink |  | Top
 
Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 10:40 AM
Response to Original message
2. That's one of the biggest drops against the Euro I've seen
and yes, this is going to get quite ugly.

I expect a slight correction upward followed by a continuation of the slow slide.

What that means for working people is accelerated inflation in all imported goods but the Chinese (for now). It also means we'd better get used to higher and higher gas prices.

The major blow will happen when China is finally forced to let the yuan float.
Printer Friendly | Permalink |  | Top
 
DemocratSinceBirth Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:48 AM
Response to Reply #2
11. Doesn't A Weak Dollar Help Imports Though?
eom
Printer Friendly | Permalink |  | Top
 
Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:50 AM
Response to Reply #11
13. You mean exports
but we don't make all that much except food and SUVs that most of the world doesn't want.

This would be a boon to American manufacturers if they hadn't offshored everything.
Printer Friendly | Permalink |  | Top
 
DemocratSinceBirth Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:58 AM
Response to Reply #13
17. Yeah I Meant Exports
We still export a boat load of food...

I guess the Japanese will be eating more steak...
Printer Friendly | Permalink |  | Top
 
Tyrone Slothrop Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 12:03 PM
Response to Reply #17
20. Did they lift their ban?
I know that they were refusing to import US beef for a while. (Cause we don't test it.)
Printer Friendly | Permalink |  | Top
 
TheBaldyMan Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:55 AM
Response to Reply #11
15. it helps US exports, pity the US makes almost nothing nowadays
Printer Friendly | Permalink |  | Top
 
Eurobabe Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:57 AM
Response to Reply #2
16. 1.40 by September, that is what I am hearing...
Edited on Tue Jul-10-07 11:58 AM by 48percenter
:woohoo:

but downside is our retirement $$ losing value while sitting in a bank stateside.
Printer Friendly | Permalink |  | Top
 
roamer65 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 12:00 PM
Response to Reply #16
18. I am hearing parity with the loonie by the end of the year as well.
Printer Friendly | Permalink |  | Top
 
trekbiker Donating Member (724 posts) Send PM | Profile | Ignore Tue Jul-10-07 12:25 PM
Response to Reply #18
21. Excellent...
half my investment portfolio is in Canadian trusts.
Printer Friendly | Permalink |  | Top
 
Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 01:41 PM
Response to Reply #16
22. It depends on what you want to do with it.
If you already own what you want to own, as most retired folks do, you'll be just fine. If you're still on the consumer treadmill, trying to clothe kids in cheaper goods made offshore, then you're going to feel a very hard pinch; ditto for furnishing that starter home.

The continued support of a certain type of new money for Stupid and GOP fiscal bungling in general is really puzzling. They're the people who have taken a huge hit, people who are most likely to feel it as they travel abroad.
Printer Friendly | Permalink |  | Top
 
Zywiec Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 10:42 AM
Response to Original message
3. Yikes! My family is in Europe right now and I'm going next month
I hate seeing rates at this level. Sure makes it cheap for Europeans to visit the US.
Printer Friendly | Permalink |  | Top
 
radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:32 AM
Response to Reply #3
7. Sure makes it cheap for Europeans to visit the US
they better come visit real soon, we're in the toilet now...just waiting for unca dick to remind dubya to flush
Printer Friendly | Permalink |  | Top
 
GreenPartyVoter Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 01:50 PM
Response to Reply #7
24. Yeah, do they want to come here though?
Printer Friendly | Permalink |  | Top
 
Zywiec Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 03:32 PM
Response to Reply #24
25. Of course they want to come here. Why wouldn't they?
I live in the DC area with a lot of embassy, world bank and other type employees. They hate leaving the United States when their tours are finished. My kids run around with their kids and I hear it at the end of every school year. They hate leaving the US and returning to Europe. Of course they are getting paid here in Euro, so it's probably a huge cost of living increase here versus back in Europe.

For the vacation travelers I know, it's the same thing.
Printer Friendly | Permalink |  | Top
 
Subdivisions Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 10:47 AM
Response to Original message
4. We've BEEN on the edge of crisis. I'm waiting
Edited on Tue Jul-10-07 10:50 AM by Texas Explorer
for the bus to fall off the cliff.

Edited to add: GOD! I wish I owned some gold. Even more, I wish I had bought it way back when.
Printer Friendly | Permalink |  | Top
 
roamer65 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 12:01 PM
Response to Reply #4
19. It's not too late to buy gold.
I been buying like crazy lately. 650/ounce will seem cheap in a couple of years.
Printer Friendly | Permalink |  | Top
 
entanglement Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:13 AM
Response to Original message
5. The Euro hit a record high against the dollar - $1.373
And the Canadian $ hit a thirty year high last week (95.7 cents)
Printer Friendly | Permalink |  | Top
 
OzarkDem Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:26 AM
Response to Original message
6. K&R
Printer Friendly | Permalink |  | Top
 
Lydia Leftcoast Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:44 AM
Response to Original message
8. I think I came back from England just in time
:-(

But why doesn't the yen (the currency I'm mostly paid in) rise? This is frustrating.
Printer Friendly | Permalink |  | Top
 
sinkingfeeling Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:45 AM
Response to Original message
9. All I see are my plans of retiring to Ireland going down the tubes.
Printer Friendly | Permalink |  | Top
 
Mandate My Ass Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:49 AM
Response to Reply #9
12. I think my plans of retiring, period, are going down the tubes
:-(
Printer Friendly | Permalink |  | Top
 
lpbk2713 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:47 AM
Response to Original message
10. I hope we can make it another year and a half.




:eyes::eyes:
Printer Friendly | Permalink |  | Top
 
Eurobabe Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 11:55 AM
Response to Original message
14. Holy shiite! That camera I just bought is even cheaper today. Thanks ECB :D
Printer Friendly | Permalink |  | Top
 
datasuspect Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jul-10-07 01:46 PM
Response to Original message
23. how long before the US dollar achieves parity with the Mexico peso?
3rd world, here we come!
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Tue Apr 30th 2024, 06:45 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC