CE_Rashaan

I know the US economy is in the toilet right now...I mean come on look at the geniuses currently at the helm of the ship.

But all this "US Dollar is going to collapse and our currency will soon be similar to that of third world countries" stuff is RIDICULOUS

There is a reason why we are THE WORLD SUPERPOWER...because no matter how bad our government screws up, within one-two presidential terms the next crew fixes everything...and vice versa

LONG TERM STABILITY is the game my fuzzy foreign friends.

The boat may rock but sink it shall not. I can GUARANTEE this one....
If you disagree SAY SO and we will re-visit this thread in a few years

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WiredGuy

Take a look at the housing market and the cost of oil, its getting to the point that the government needs to do something about it.
WG

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Snake Doctor

These US dollar threads are great for sig spots

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Snake Doctor

The US government doesn't control the price of oil.

The housing market is correcting itself because of a bubble, the same way the stock market did 7 years ago. It's the natural order of things.

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JimmiDean

I dont think allot of people hanging on to their house by a thread can wait several years right now.

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CE_Rashaan

Im not saying things aren't bad...your right GAS is up people are losing their homes it's fucked up if anything....but my point is that we are AMERICA we bounce back from this kinda turmoil...and bounce back high we do.

Our country has seen MUCH worse then this...plenty of times

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buzzy

Another guy for the retard list...

Snake Doctor

If you can't afford your mortgage payment that's nobody's fault but your own.

Caveat Emptor.

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Damian_Maxcash

If any of you can see into the future of the US economy then please tell us.....

My guess is you are talking out of your ass.

_Richard_

one could say that an economy isn't reflective on a current government..

directfiesta

I am in the process off closing on a condo in Pompano Beach that I sold 3 years ago ( use the search ...).

I sold it for 319K US$ in 2004 ( when that gave me 440K $Canadian ).

I am trying to finish the repurchase ( amazing) at 299K US$ which will mean I will pay 284K $Can....

156K difference ....

Timing is the essence.


BTW, if you want to search, I had forecasted in 2006, par on the US by Xmas 2007...most here were sending me tinfoil hat...Thx guys, I used it on my grill ....

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CE_Rashaan

Yeah for sure I am...Im no ECON mAJOR...the only point I am making is that the US DOLLAR isn't going anywhere. It may be weak now but it will rebound soon!

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kane

I predict a nice little recession in the next 1.5-2 years, unless something is done.

Here is why I say that:

The US dollar is on the decline. There are good and bad things about this, but more bad than good and the strength of our dollar is a nice indicator as to the strength of our economy.

The housing market is in a dive and will most likely hit free fall status in the next 1-1.5 years as all of these sub prime and variable rate mortgages lose their locked in rate. the payments will jump up and people will have to dump the houses or have them foreclosed on because they can't afford them anymore.

The price of oil and gas continues to stay high and there is no relief anywhere in site.

Our middle class is being slowly destroyed by companies taking their good paying manufacturing jobs overseas. These are jobs that anyone with a high school diploma can get and after a few years they make enough money to have a house and a family and live a decent middle class life. These jobs are disappearing and the jobs that are replacing them are either lower paying service and retail industry jobs or they are higher end tech jobs that require some schooling to get. This means that Joe Bob loses his $24 an hour manufacturing job and can either get a $12 an retail/service job or go back to school. Either way financial hardship is on his and his family's horizon.

They can't cut interest rates to artificially inflate the housing market again so some of the tricks the government would normally have up its sleeve are gone.

You factor all of these together and it doesn't look good. Everything is cyclical and eventually we will pull out of it and markets will correct, but it could be a bump ride for some people.

AllStar

Trust me nobody in the world wants US currency to collapse Rashan especially Americans, canadians, chinese and Europeans.
Think about it this way.

Right now the USD went from $1.67 Canadian to .93 cents canadian in the last 6 years and from $1.05 Euro to .67 cents Euro.

it is around ,22 cents the USD has lost in the last year alone. Guess what Americans buy things. Wood from canada to build homes, Cars from Europe, Electronics from Japan...all the prices in the US are gonna go and it is called inflation.
If you don't realize what inflation is ask people in Brazil.
One day you pay $5 dollars for something and then next day it is $7 and the next week it is $10 and guess what you don't get two raises in a week from your boss.
It can be devatating what can happen to an economy.

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yys

The U.S. dollar will eventually reverse it's slide, the deficit will shrink and the economy will start churning again. There will be pain in the short term.

You have to admit though, it's hilarious to hear some people say things like "The U.S. empire is going to crash like the roman empire" and "China is going spank the U.S. in a few years". So quick to write off what is arguably the most resilient economy the world has ever seen. Silly little kids.

SilentKnight

Players make lemonade outta lemons.

Yep...let's revisit this thread in a few years.

I'm game.

CE_Rashaan

Bumpy ride for some yes....a few will make a killing in these conditions.

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Praguer

A week dollar is bad news for everyone in the world. But no matter what your politicians say right now, it's even worst news for the American people, specially, middle and low income folks.

The truth of the matter is that there is only one proven way for the Government to reverse the decline, and that is to cut the spending and raise interest rates. There is really no magic pill here.

However with the mess in Irak and elections coming, that is very unlikely to happen.

The short term meassures needed to start the reversing process and put the economy back on track, are a bitter pill for the American public to swallow and I really don't beleive that anybody for now and at least until the elections have passed, will have the balls to do something about it

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BlackCrayon

A lot of people were stupid and bought something they should know they can't afford, all this no downpayment insane interest bullshit. it should never of been allowed.

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RawAlex

Americans would be very smart to take a history lesson from the Japanese bubble economy of the 80s. They are still digging out from it at this point, with tons of real estate still upside down compared to the mortgages on them. The Japanese prime rate is still super low, (this week, their central bank voted to leave the rate at 0.5%). Effectively, the central bank there has few levers left to pull to try to kick start the economy.

XE today has the canadian dollar at 1.06980 US, which is pretty much record territory, and there are few signs that this is going to change any time soon.

Can someone please get the boy out of office and get the US back on track?

teomaxxx

you can laugh, but when petrodollars concept is changed, I am sure, there wont be any laugh in the US anymore, despite the fact everyone here would really like to see strong USD as much as possible.

RegUser

I had predicted way back in March that US $ will fall rapidly, that CAN $ will surpass US $, that AU $ will hit parity as well and many other currencies such as Euro, Indian Rupee, Real will rise rapidly. I was sure gold will cross $800 when it was sitting at 670
stupid me.....I just turned out to be too greedy not to convert my US $ and am now looking at geting CAN $900 for a thousand US.
I am pretty sure that US $ will crash before middle of 2008, gold will easily reach $950 in next 4-5 months while other currencies will rise.
A recession in US and slowdown in global economy is only 4 months away.
And those of you who talk from heart rather than head....guys what goes up must go down.
UK and France once ruled the world but the US did overtake them and stayed ahead fr so many decades.......but don't think for a minute that it will be always that way. New president or not, the perfect recession storm is coming your way

rebel23

believe me, the last thing you want is the USG involved, they created this mess when they authorized the Federal Reserve who print the money (it's not Federal and there are no reserve's)

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xmas13

You meant long term

Linkster

And that my friend is the reason that all these predictions about this just being a short term "correction" is going to fail - as soon as the rest of the OPEC nations convert to not accepting US Dollars - which one has already done recently - and only accept Euros for oil contracts - all support for the US economy will be gone. The only thing that would make it a worse "perfect storm" would be for the Chinese to pull their investments in the dollar (which would totally collapse the US markets) - and we will be much worse off than all those 3rd world countries people are posting about - the depression will look like a cakewalk compared to what this would bring

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YellowDude

Where can I vomit

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PMdave

ain't going to happen... the chinese market might be booming but if they pull the plug on their biggest client their own economy will go down faster that it boomed.

Linkster

PMDave - its just an outside chance that there is still a spark of the ole "world takeover" thread left in the Chinese gov't - would be easier than nukes

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Snake Doctor

That is NOT going to happen and even though you won't believe me I'll tell you why.

Most OPEC nations take their oil profits and invest them in US treasuries and US denominated securities.
Their portfolios are massive. They can't divest themselves of dollars and switch to another currency without simultaneously driving the value of their assets into the ground.
They're not going to do anything to hurt the US economy while they own so much US debt.

They're in the same boat with us and if it sinks we all drown. So it will be dollars for oil for a very long time.

Plus the idea that the only reason there is support for the US economy is because oil is traded in dollars is ludicrous. We have the strongest, most stable economy in the history of the world.

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GreyWolf

Untrue.

Untrue.

Untrue.

Assumption based on serveral other assumptions.

Untrue.

Snake Doctor

Wow you make such a compelling argument I guess I should just switch to your point of view.

It's obvious that you're an America hating troll who is praying for our economy to collapse. That's just not gonna happen son.

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GreyWolf

Don't deal with fiction - only fact, and no time to waste presenting any arguement. Read and learn and it will be obvious.

The rest of your post is irrelevant and just assumption again.

Deputy Chief Command

blah blah blah blah blah

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stev0

You do realize the only people that refer to the US as the "world super power" are delusional 'patriots' and fox news right? The world hasn't had a lone super power in a long time, Israel controls the US and China is the primary share holder. The population and the government itself doesn't control fuck all.

stev0

You, I, and many other people here made a nice bonus profit while the US dollar was high... Sure it sucks that's it's dropping, however when 80% of our sales/profits online come from US consumers, I don't think that the dropping dollar puts us in any position to complain. Those numbers will change soon as more highly populated countries are adopting creditcards and broadband internet, but I'm talking at the moment...

The day that conversions cost me as much as they've made me over the past 8 years, I'll start complaining. Until then I'm still glad to have recieved the exchange bonus.

yahoo-xxx-girls.com

GreyWolf... True ?

Bump...

.

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d-null

I was just listening to the news on a Canadian radio station and they said the U.S. dollar is expected to be 90 cents in the short term and less than that in the long term.

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stev0

Read a textbook buddy... read a textbook. History repeats itself, every nation will collapse in time. What kind of LONG TERM track record does the US have compared to other nations in history? Oh wait, none... It's a tiny blip on the time line.

yahoo-xxx-girls.com

They said that the Canadian Dollar will most likely equal $ 1.10 with a potential of going even further... Know one knows... however $1.07 is setting new records vs. the US dollar.

.

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yahoo-xxx-girls.com

I think someone needs to relax...



.

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stev0

If radio stations could predict currency exchange rates most of us here wouldn't have to work anymore.. A radio station predicting the US dollar forcast is about as accurate as a GFY user predicting google stock.

However, a simple graph would go like this:

Gold ^ = USD down
USD ^ = Gold down

stev0

Always relaxed

GreyWolf

If only they would read their own govt treasury accounts before even visiting GFY, there might be a clue

But... na .. that's expecting too much and it would raise the standard of GFY above the level of flagface insecurity outbursts

And to you

flashfire

world superpower? ya okay, keep telling yourself that

Linkster

Im glad you have such faith - but unfortunately you are incorrect - it is already happening - the countries in OPEC are already divesting their investments - and one country in OPEC has already declared their switch to the Euro - you can hope and pray and have faith all ya want - but the reality is it has already started - and that is just a fact

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yys

I guess it depends on what your idea of short and long term means. A couple years is short to me.

Vick!

Look at this shit, Idiot.

and re-fucking-hash your long term stability approach...


22 years before:

Today:

You are down-way to hill for long now .. your asses are owned already .. either by your hypocrite govt. or terrorists.




THE WORLD SUPERPOWER?? haha

StuartD

I bet England had the same erogance 100 years ago and are they still a super power with the leading currency?

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Enemator

Yawn...Alexander the Great, Genghis Kahn, an multitude of Roman emperors claimed the same thing. And a bunch of others too.

And they WERE for some time. But all those empire crumbled and fell. So can you guarantee me that it won't happen for the US? And why wouldn't it happen now? It has to happen at SOME point.

Look at the big scheme of things and over a timeline of 10.000 years. You'll see not a SINGLE empire from the old days is still around and just as powerfull.