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News US dollar plummeting

  1. May 26, 2003 #1
    Good or no good?
    To malaysia, our ringgit is pegged to dollar at the rate of 3.8,
    it does not affect our trade with US,
    however, Japanese Yen and Euro is up against Ringgit,
    goods that imported from Japan and europe will be more expensive, that's bad.

    I read paper in Newsweek that weak dollar is the policy of US now, in order to boost its economy by strengthening export of US goods, workable?
  2. jcsd
  3. May 26, 2003 #2
    Thats just what they are saying to explain their behaviour.

    They really (in US) need to cut debts. It will not do economies in US and Europe good, as changes are required in businesses which operate within import/ export.

    However, the american economy is more flexible that European economies, so they will not suffer so much.
    Last edited: May 26, 2003
  4. May 28, 2003 #3
    Yep, we're back to the 80's economy again. I don't know what to call it, voodoo economics, a service economy, or what, but it doesn't matter. Total deregulation is what is afoot here, the Republicans are gutting the internal structure of the government. The plan is simple: revive the stock market by cutting stock dividend taxes while simultaneously placing outlaw corporations like Worldcom in charge of rebuilding Iraq. No bids, no questions. It is a massive deception that will inevitably lead to a great failure.
    The dollar goes lower as imports into the US increase, because more currency is then in the world market, not necessarily re-invested in treasury bills or government bonds.
    thats about all I know about it.
  5. May 30, 2003 #4
    I would seriously like to see your proofs.

    Especiallialy you, schwarz.

    Your news is truly news to me.

    My own stock portfolio is, for the first time in several years, climbing out of the hole.
    Many of my stocks are international. It is all doing good.

    When will you realize this fascination with democratic death is not realistic, that republicans might just know what they are talking about, and just stfu?

    What is good for the US is good for you, too. If you spent half as much time believing your cup was half full as you did believing your cup was half empty, you wouldn't have to waste so much time deriding the very same people who are responsible for your being able to post at all!

    Get a grip. Have a little trust. Have a little pride. We arent the only superpower on the planet because we maintained an attitude of guilt!
  6. May 30, 2003 #5
    In any case, the dollar is losing ground against world markets. Yes there certainly may be a spike in stock ownership and growth of companies that are supported entirely by the government with military contracts. Such companies may be exempt from audits because of national security. It's simply a recipe for a big rip off of stock-holders, not to mention the $10-26K/yr income bracket that will pay for all those wonderful tax breaks.
  7. May 31, 2003 #6
    I think the dollar has been running high for a long time, mainly as a result of poor economies abroad in Japan and the EU, the long 90s boom, the IT stock bubble. Now that the US economy has finally slowed down, it's natural that the dollar will fall somewhat, especially since the large US trade deficit means ever-increasing pressure for it to do so (we import far more value in goods than we export.)
  8. Jun 1, 2003 #7


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  9. Jun 2, 2003 #8
    What's up with that? do you work for them or sth? Yuck!

    "Accept the result of a Free Election!" Mikhail Gorbechav, 1989, at the end of the Soviet Empire; the eve of the Polish Republic.
  10. Jun 2, 2003 #9


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    No, schwarz, that statement was just wrong/funny on several levels:

    "outlaw corporations" - are all corporations outlaws, or are only outlaws allowed to get government contracts? Either way, lmao.

    "Worldcom" - and what pray tell, does Worldcom have to do with the rebuilding of Iraq? lmao.

    "in charge" - Colin Powell is in charge of rebuilding Iraq. lmao.
  11. Jun 2, 2003 #10
    Uh, actually Worldcom has the contract to build phone networks in Iraq... and it was embroiled in a series of ugly scandals, including a huge accounting one which drove it into bankruptcy last year.
  12. Jun 2, 2003 #11


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    Serioiusly? Well damn, then I stand corrected. Thats a pretty stupid thing to do (hiring Worldcom) from a political standpoint.
  13. Jun 2, 2003 #12
    Yeah, when I first heard they had selected a scandal-plagued "New Economy" company with no previous construction experience and that had just declared bankruptcy for an Iraq reconstruction contract, I didn't believe it either. :wink: But I'm quickly losing the ability to be surprised by anything the Bush administration does anymore....
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