WooHoo! The Euro is worth 96 cents...
- Thread starter p_p_man
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Dixon Carter Lee
Headliner
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- Nov 22, 1999
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I've promised all my wit to play with Glamorilla and Marxist today, so all I have left for you is a big, wet fart.
Where is Yayati?
Where is Yayati?
brokenbrainwave
Just draggin around
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- May 6, 2002
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ok so it takes a mass continental currency to nearly equal the global strength of one nations greenback. The big whoop here is???
Dixon Carter Lee
Headliner
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- Nov 22, 1999
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The dollar falls. The dollar rises. What's the matter with you? You can't be this dopey.
freescorfr
Awaiting autumn harvests
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- Feb 19, 2002
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Personally, p_p man its a pain. Economics and politics apart, this seems to be the sign that I should return to Scotland from my hayloft. 6% in a matter of two weeks is what seems to have happened. Fairly bad for a man of the autoroute like myself.
It is, of course, a step towards the euro for Britain.
It is, of course, a step towards the euro for Britain.
REDWAVE
Urban Jungle Dweller
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- Aug 26, 2001
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Trade Deficit
The dollar is definitely falling. Not too long ago, the euro was only worth about $0.70.
But the most important factor, I think, is the huge U.S. trade deficit. Because of it, the U.S. economy has to suck in a huge amount of foreign capital just to maintain equilibrium. During the "go go" years of the 1990's dotcom stock bubble, that was no problem. Now the bubble has burst, and there's a big crisis in confidence among investors about U.S. corporations. (Largely stemming from Enron, but "Enronomics" is hardly confined to one company: many corporations have been cooking their books to inflate their stock prices. Global Crossing and Tyco are two other examples.) If the flow of foreign capital into the U.S. stops, or is signifigantly diminished, then the trade deficit will cause a virtual collapse of dollar, with catastrophic implications for the world economy.
Remember, the Great Depression of the 1930's began with the stock market collapse in October, 1929 ("Black Friday"), but the real economy did not hit bottom until 1931, the worst year of the Great Depression. In this case, the stock market began to collapse in late 2000. Look for the U.S. and world economies to bottom out sometime late this year, or early next year.
The dollar is definitely falling. Not too long ago, the euro was only worth about $0.70.
But the most important factor, I think, is the huge U.S. trade deficit. Because of it, the U.S. economy has to suck in a huge amount of foreign capital just to maintain equilibrium. During the "go go" years of the 1990's dotcom stock bubble, that was no problem. Now the bubble has burst, and there's a big crisis in confidence among investors about U.S. corporations. (Largely stemming from Enron, but "Enronomics" is hardly confined to one company: many corporations have been cooking their books to inflate their stock prices. Global Crossing and Tyco are two other examples.) If the flow of foreign capital into the U.S. stops, or is signifigantly diminished, then the trade deficit will cause a virtual collapse of dollar, with catastrophic implications for the world economy.
Remember, the Great Depression of the 1930's began with the stock market collapse in October, 1929 ("Black Friday"), but the real economy did not hit bottom until 1931, the worst year of the Great Depression. In this case, the stock market began to collapse in late 2000. Look for the U.S. and world economies to bottom out sometime late this year, or early next year.
M
miles
Guest
Redwave, shut the fuck up.
Why is this such a gleeful thing? What the fuck is the matter with you that you would whoop it up over a bunch of people's purchasing power dropping? What? Do you want me to go hungry? Would that make you happy? It's hard enough making ends meet without the exchange rate crap. Yeah, go ahead, have a party. You suck.
REDWAVE
Urban Jungle Dweller
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April
Actually, the fall in the value of the dollar doesn't affect the average person much, unless they go on vacation in Europe. It mainly affects businesses that trade internationally. And I'm hardly whooping it up myself. The current worldwide economic crisis is already causing enormous suffering, and by all indications it's about to get much worse.
Actually, the fall in the value of the dollar doesn't affect the average person much, unless they go on vacation in Europe. It mainly affects businesses that trade internationally. And I'm hardly whooping it up myself. The current worldwide economic crisis is already causing enormous suffering, and by all indications it's about to get much worse.
I'm living in Europe. It affects me personally, daily. My rent, gas for the car, utilities, entertainment, some shopping.
Politics is just a playground for the rich. The average joe on the street is the one that suffers and has to deal with the fallout. It ain't cool.
Politics is just a playground for the rich. The average joe on the street is the one that suffers and has to deal with the fallout. It ain't cool.
LRC
Sketchy Character
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p_p_man said:That newest of currencies, only two years old, has been gaining strength until it's at its strongest today...
What's the betting we won't hear too much about Bush's fabricated 'Trade War' now?
That still won't buy you anything in the 99 cent store.
p_p_man
The 'Euro' European
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- Feb 18, 2001
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- 24,253
April said:
It's gleeful in the short term because the stronger the European currency the more prabability that the EU will be able to play Bush at his own game in this fabricated 'Trade War' of his.
And in the long term with the continuing shifting of economic and political alliances, the stronger the currency the better...
It's a pity the US has only got NAFTA to rely on. Not exactly a strong partnership is it?
ppman
bored1
Literotica Guru
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Good! Its time to remove all US Troops from Europe. Including the peackeepers in the former Yugoslavia. As I recall Clinton said they would only be there 2 years anyway. How long do you think there would be peace?p_p_man said:
It does for most of the time anyway...
And we pay for US forces being over here. You take up far too much valuable land...
SINthysist
Rural Racist Homophobe
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- Nov 29, 2001
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REDWAVE, if you made sense more often you would be more fun. Then again, it may worry many that you are saying what I have been saying for some time now.
This is the first time, I believe we have been in agreement on any topic...
This is the first time, I believe we have been in agreement on any topic...
