The dollar's nosedive: a problem for the whole world

[Tchocky]

Originally Posted by August

So we're a disease now eh?

You forgot your context.

[August]

Originally Posted by Skybird

And why that does not earn you sympathies

You're assuming we want your sympathy...

[Skybird]

Originally Posted by August

You're assuming we want your sympathy...

No, I do not. judging by it's policies of the past years, it is more likely that america doesn'T give a damn for others at all. Politically it has behaved like an elephant in a chinese shop, and thought it can afford that - for no other reason than being "America."

Poor performance, at best.

[August]

Originally Posted by Skybird

...it is more likely that america doesn'T give a damn for others at all

Uh huh, like Germany or any other country is any different. Come down from your high horse Mr. Skybird.

[Skybird]

Originally Posted by August

Uh huh, like Germany or any other country is any different. Come down from your high horse Mr. Skybird.

and braking my neck while looking up to you?

[AntEater]

Well, if the cheap dollar attracts industry back to america, the problem might solve itself.
More industry, more things to export = less trade deficit, more jobs, less consumber debts.
Maybe one day america will make a living by exporting cheap consumer goods to china.
:rotfl:

The only thing that needs to be solved is to find another international monetary system, maybe one based on serveral competing currencies (Euro, Ruble, Yuan and Yen, maybe)

[SUBMAN1]

Originally Posted by AntEater

The only thing that needs to be solved is to find another international monetary system, maybe one based on serveral competing currencies (Euro, Ruble, Yuan and Yen, maybe)

Well, usually a world system is based on the strongest GDP. That, unlike what most of you think, still is the US with its GDP still accounting for 1/3rd the GWP of the entire world. So, to choose another monetary system is to invite even more instability since more stresses are on it and it is open to more fluctuation in a lesser market. So, if you want to ride a big huge roller coaster, go for it.

-S

PS. AntEater - you may want to read this http://www.theglobalguru.com/article...&offer=GURU003 It should put the global monetary power of the US into perspective.

PPS. I like this quote from the article:

Underestimating the U.S. economy has become the new global financial sport. Yet the Japanese economy has not matched U.S. growth rates for at least the last decade. Europe celebrates triumphantly when its growth rate hits 2.5%. And for all the press they generate, China and India rank 34th and 48th, respectively in the World Economic Forum's global competitiveness index. The world has been counting out the United States as far as I can remember. The U.S. economic map provides a vivid reminder of just where the U.S. stands.

PPS. FOr those that don't know, we have about 4% growth rates right now. Almost double that of Europe's best. THis also means that our lifestyles are probably growing at 2x the rate of Europes too. No wonder Skybird is a bit jealous.

[Skybird]

that numbers of yours i have relatives by several analytical essay now, Subman. Ignoring it on and on does not make their validity go away.

Seen from a financial-economical perspective, there is no reason at all to be jealous at the US. Fifty years ago - yes. Today: no-no.

and what you also do not realize is that for a nation of America's size and population - you perform poor, and much if not all of your "growth" is not coming by producing more, but by 1.) increases in the non-producing service sector, 2.) mostly supported by low wages that employes cannot use to make a living and secure their future. at least the same problem we do have in Germany. that way, unhealthy economic structuzres get installed, that do not really help to produce social safety for employees. and from here we could close the circle to the term "the living poor", but that discussion we also already had.

I do not wonder why your GDP is so low, Subman. I wonder why it is not incredibly much higher, what should be expected from a nation of your size. the answer is: loss in production capacity, and uncompetitive productivity in the remaining heavy industry you have. the jobs lost there, shifted to the low wage sector, and the service sector that produces not really anything. And from having been a strong supplier of finances and goods, you shifted towards becoming a natioin that consumes more than it can afford, financially, and that can no longer supply by itself the goods consumed by the national, since it is lacking the national production capacities - we do not talk about raw materials, but product qunatities.

read the essay again, it gave examples.

Wake up , America, and get healthy again. Yopu live on tick, and excessively consumes more than wjhat you can afford, while loosing productive potentials of your own. the longer you lie to yourself, the more misery you do not only create for yourself, but for all others as well. And that will hardly increase global sympathies for you. Some factions out there are not as fogiving as Europe is towards you, for reasons of cultural closeness. when your disease becomes too expensive for china, they will let you fall. And that means a terrible crash for you, and us as well. Always living on tick and think that others will accept that forever, is not a reasonable strategy. It is madness.

[August]

Originally Posted by Skybird

It is madness.

So what do you expect from diseased, megalomaniac gangsters like us Skybird? Maybe you ought to go cosy up to the Russians because if you're representative of the feelings of the average German (although i know you aren't) i'll bet our countries will be at war again before the century is out.

That'd be too bad to given the many relatives i have over there....

[AntEater]

Originally Posted by Skybird

It is madness.

It is blasphemy?

No, this is USAAAAAAAAA
:rotfl:

[Skybird]

Originally Posted by August

So what do you expect from diseased, megalomaniac gangsters like us Skybird? Maybe you ought to go cosy up to the Russians because if you're representative of the feelings of the average German (although i know you aren't) i'll bet our countries will be at war again before the century is out.

That'd be too bad to given the many relatives i have over there....

Nice shot. Just the wrong target.

[Kptlt. Neuerburg]

If you people care to know what I think, its all the fault of the current adminastration,company ceos,and outsorcing. The dollar is dropping like a freaking rock because of the economy of the US. The reason for this is the housing market problem, sending the jobs of the middle class workers to countrys like China,India,ect all so the fat cat CEOs want nothing but money. And they are getting more money because Bush is giving the jerks the tax breaks that they don't deserve. What makes it harder for the middle class who have to pay more money for eveything. Normal every day items such as gas,food,stamps,cars,and what not.
And it will get worse before it gets better, and if anyone here watches the stock market how it goes up one week and then takes a major nosedive the next. If I had any investments in the stock market I'd sell everything and get out while the getting is good. Then theres the whole stupid war in Iraq, which is pointless and an endless money pit that the government keeps saying that we will win which is of course a load of crap. This war is posibly the biggest cause of the "Rise and Fall of the American Dollar".

[Tchocky]

Originally Posted by SUBMAN1

PPS. FOr those that don't know, we have about 4% growth rates right now. Almost double that of Europe's best. THis also means that our lifestyles are probably growing at 2x the rate of Europes too. No wonder Skybird is a bit jealous.

Erp, wrong. Ireland is growing at 4.75%

[SUBMAN1]

Originally Posted by Tchocky

Erp, wrong. Ireland is growing at 4.75%

Good for them. Lets see if they can sustain it. Problem is, this economy is too small. We were talking about the EU as a whole, since this is closer to US output.

-S

[AntEater]

http://de.youtube.com/watch?v=qZSCAUtLMYE

Video by Jay-Z. At 0:50, watch what kind of bills he's countin'
Ghangsta Rappaz give tha Dollar a bad rap, it seems
You can't get much bling fo' it anyo', man
:rotfl: