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Steelrails

Joined: 12 Mar 2009
Location: Earth, Solar System

Posted: Mon Apr 14, 2014 5:18 am Post subject:

atwood wrote:

young_clinton wrote:

atwood wrote:

Maybe they should manufacture better value products rather than relying on manipulating their currency to sell their shite, I mean crap, I mean products.

"Where it should be"--truly egotistical tripe. How the f989k do you know know where "it should be"?

I don't know. I'd buy a Hyundai before I would buy an American car, and I'm American.

See you in my rear-view mirror.
http://www.teslamotors.com/models

You're comparing a $60,000 luxury car to a Hyundai? Shouldn't you be comparing Ford/Chevy/Dodge?

Quote:

Interesting.

In 2002 when I came here the won was way stronger - and the economy seemed better.

Hmmm... could it be that currency is not the only factor in a strong economy? even Korea's??

Well that's true. There were more reforms going on at that time and there were different priorities. Korea was coming out of the IMF and September 11, so there was an interest in a stronger currency to ensure financial stability.

Quote:

Then you lie. All countries do not manipulate their currencies.

The very act of printing money and setting interest at a certain rate is manipulating your currency. Now yes, there are a few countries that do not print their own currency or are part of a common currency that manipulates its rate, but those are few and far between, usually tourist-driven small countries.

And stop effin comparing me to Josef Goebbels.

Quote:

Koreans don't want to compete on a level playing field.

Do you honestly believe that other country's companies are nice people who want to compete on some level playing field?

Jongno2bucheon

Joined: 11 Mar 2014

Posted: Mon Apr 14, 2014 6:04 am Post subject:

Captain Corea wrote:

Steelrails wrote:

Ugh, no. A strong won is not a good thing in an export-driven economy like Korea's. Hopefully the rate will go back over 1100 or so, where it should be.

Interesting.

In 2002 when I came here the won was way stronger - and the economy seemed better.

Hmmm... could it be that currency is not the only factor in a strong economy? even Korea's??

True

mr_thehorse

Joined: 27 Aug 2013

Posted: Mon Apr 14, 2014 10:10 am Post subject:

atwood wrote:

Steelrails wrote:

Ugh, no. A strong won is not a good thing in an export-driven economy like Korea's. Hopefully the rate will go back over 1100 or so, where it should be.

Maybe they should manufacture better value products rather than relying on manipulating their currency to sell their shite, I mean crap, I mean products.

atwood,

Just an observation. Isnt the strong Won evidence that its not being AS manipulated as other currencies are?

If you read the policy statements from the BOK, they seem rather reluctant or grudgingly engaging in beggar thy neighbor monetary policies.

Consider.. you have(had?) the US engaging in a direct policy of dollar debasement, you have the Japanese doing their grand Abenomics experiment, you have China keeping the RMB at a low peg to the USD.

Furthermore, Korean products are popular. If they weren't, the currency would be flat lined. You may think they are rubbish. Enough people disagree. People buy products, economy does well. currency gets stronger.

IMO, there is alot to bitch about in Korea. This isn't one of them.

Thanks

[/b]

atwood

Joined: 26 Dec 2009

Posted: Mon Apr 14, 2014 1:08 pm Post subject:

Steelrails wrote:

atwood wrote:

young_clinton wrote:

atwood wrote:

I don't know. I'd buy a Hyundai before I would buy an American car, and I'm American.

See you in my rear-view mirror.
http://www.teslamotors.com/models

You're comparing a $60,000 luxury car to a Hyundai? Shouldn't you be comparing Ford/Chevy/Dodge?

Quote:

Interesting.

In 2002 when I came here the won was way stronger - and the economy seemed better.

Hmmm... could it be that currency is not the only factor in a strong economy? even Korea's??

Quote:

Then you lie. All countries do not manipulate their currencies.

Quote:

Koreans don't want to compete on a level playing field.

Do you honestly believe that other country's companies are nice people who want to compete on some level playing field?

Herr G, I can compare it to any kind of car I like. The US is a free country where one can drive the car of his or her choosing.

And as long as you print obvious lies, I'll compare you to Goebbels.

Such as 27 countries in the EU "are few and far between, usually tourist-driven small countries."

BTW monetary policy is not equivalent to currency manipulation, Herr G.

And you gotta dig the tears Hyun is shedding at the G-20 meeting about the Fed's tapering and how the U.S. has to think of "developing economies" when setting monetary policy. Wants to eat his kimchi and keep it too.

atwood

Joined: 26 Dec 2009

Posted: Mon Apr 14, 2014 1:14 pm Post subject:

mr_thehorse wrote:

atwood wrote:

Steelrails wrote:

Ugh, no. A strong won is not a good thing in an export-driven economy like Korea's. Hopefully the rate will go back over 1100 or so, where it should be.

Maybe they should manufacture better value products rather than relying on manipulating their currency to sell their shite, I mean crap, I mean products.

The U.S. monetary policy is not about "dollar debasement," whatever the heck that is.

Korean products are popular because they are cheap. They need a weak currency to keep them that way so they can sell them.

China and Japan manipulate their currencies? No kidding.

Get back to me when you have a clue.

You're welcome.

Jongno2bucheon

Joined: 11 Mar 2014

Posted: Mon Apr 14, 2014 1:24 pm Post subject:

atwood wrote:

mr_thehorse wrote:

atwood wrote:

Steelrails wrote:

Ugh, no. A strong won is not a good thing in an export-driven economy like Korea's. Hopefully the rate will go back over 1100 or so, where it should be.

Maybe they should manufacture better value products rather than relying on manipulating their currency to sell their shite, I mean crap, I mean products.

Quantitative easing isnt about dollar debasement?

Korean products are cheap?

Are you aware we are in the year 2014? Laughing

atwood

Joined: 26 Dec 2009

Posted: Mon Apr 14, 2014 2:49 pm Post subject:

Jongno2bucheon wrote:

atwood wrote:

mr_thehorse wrote:

atwood wrote:

Steelrails wrote:

Ugh, no. A strong won is not a good thing in an export-driven economy like Korea's. Hopefully the rate will go back over 1100 or so, where it should be.

Maybe they should manufacture better value products rather than relying on manipulating their currency to sell their shite, I mean crap, I mean products.

Quantitative easing isnt about dollar debasement?

Korean products are cheap?

Are you aware we are in the year 2014? Laughing

It's really quite simple.

The Fed has two, TWO, objectives: controlling inflation and full employment. It is not in the business of currency manipulation to support exports.

Korean products aren't cheap in Korea, but in the U.S. , sure. And Korean products is becoming more and more a misnomer as they are being manufactured in China, Vietnam, and wherever cheap labor can be found.

Jongno2bucheon

Joined: 11 Mar 2014

Posted: Mon Apr 14, 2014 3:18 pm Post subject:

atwood wrote:

Jongno2bucheon wrote:

atwood wrote:

mr_thehorse wrote:

atwood wrote:

Steelrails wrote:

Ugh, no. A strong won is not a good thing in an export-driven economy like Korea's. Hopefully the rate will go back over 1100 or so, where it should be.

Maybe they should manufacture better value products rather than relying on manipulating their currency to sell their shite, I mean crap, I mean products.

Quantitative easing isnt about dollar debasement?

Korean products are cheap?

Are you aware we are in the year 2014? Laughing

Quantitative easing is not a typical Fed policy. But it is a fact that Japan, US, and China have ndirectly or directly devalued their currency to a much much greater extent than Korea and Australia. The world stopped living in absolutes and adhering to inflexible policies when the financial crisis hit.

In the US, Samsung tvs are considered a premium brand dood. Been a while since you been there huh? also overseas manufactering is what all electronics companies do. If anything thats what keeps currency manipulation less effective sinces its being manufactered elsewhere.

Underwaterbob

Joined: 08 Jan 2005
Location: In Cognito

Posted: Mon Apr 14, 2014 3:28 pm Post subject:

Is this strong won? I was under the impression the Canadian dollar was tanking.

Sister Ray

Joined: 25 Mar 2006
Location: Fukuoka

Posted: Mon Apr 14, 2014 3:49 pm Post subject:

Jongno2bucheon wrote:

In the US, Samsung tvs are considered a premium brand dood.

Are they "dood"? They're considered the definition of mass market everywhere I've ever lived. Nothing wrong with that though. Loewe is a TV manufacturer I would identify as "premium". Samsung? Not even close.

Zyzyfer

Joined: 29 Jan 2003
Location: who, what, where, when, why, how?

Posted: Mon Apr 14, 2014 4:30 pm Post subject:

Underwaterbob wrote:

Is this strong won? I was under the impression the Canadian dollar was tanking.

It may be that. The won is up against the US dollar by about 2 or 3 bps as well.

Steelrails wrote:

Okay, but why do you think it should be stronger? All countries manipulate their currencies in response to economic conditions, so I don't see anything wrong with that. Why should it be stronger?

If this country had a different economy, a strong won might be beneficial and good news. As it stands, its export-driven, which means a weak currency is in its best interests.

I guess now we can add economics to the list of shit you are an armchair expert on.

I'm not saying it should be stronger, I'm saying that the BOK and FSC have given up on continuing to hold it down for the sake of exports in light of economic developments, both global and domestic. My point still stands; you came here after the global financial crisis hit so all that you have ever known is a weak won, and you therefore have a limited perspective. It's nothing to be ashamed of. I came here after IMF was all wrapped up and have never known 700-800 won to the dollar. But hearing you dish out economic policy for a nation is rich.

What I don't get is why you decided to post your drivel on a thread that was, originally, very clearly about the exchange rate changing in favor of the OP and nothing more. Now it's about the quality of Korean exports. Why?!?!?!?!?!? Because you turned it into that.

dairyairy

Joined: 17 May 2012
Location: South Korea

Posted: Mon Apr 14, 2014 4:35 pm Post subject:

Steelrails wrote:

Ugh, no. A strong won is not a good thing in an export-driven economy like Korea's. Hopefully the rate will go back over 1100 or so, where it should be.

More from "Mister Economics", eh? Rolling Eyes

South Korea doesn't just "export" things; they import consumer items and supplies for the factories, too. A higher won gives those manufacturers more for their money. There's a large consumer class in Korea that benefits from a stronger won, which gives them more buying power. Plus, with some many Koreans supporting others who are overseas, this gives them more buying power when they exchange money. And, don't forget how many Koreans travel overseas. This is good for them, too.

dairyairy

Joined: 17 May 2012
Location: South Korea

Posted: Mon Apr 14, 2014 4:40 pm Post subject:

Steelrails, in case you are concerned that South Korea companies will take some kind of hit when the value of the won increases, then worry no more. There are South Korean factories and facilities all around the world, including the U.S.A., and any fluctuations in the value of curriences are more than smoothed out, as a result.

crescent

Joined: 15 Jan 2003
Location: yes.

Posted: Mon Apr 14, 2014 4:47 pm Post subject:

Jongno2bucheon wrote:

In the US, Samsung tvs are considered a premium brand dood. Been a while since you been there huh?

LOL! Samsung is not considered a premium brand in the west. I'm in Canada right now, and unless the US has lower standards, then I say you don't know what you're talking about. Samsung is considered good value for the price, that's it. LG is a laughing stock.
If Samsung, as you say, is considered a 'premium' brand in the west, then why are N.American appliance repair companies advising AGAINST buying them? I'll tell you why. Because they are made cheap, with a flimsy base warranty.

Last edited by crescent on Mon Apr 14, 2014 4:51 pm; edited 1 time in total

Zyzyfer

Joined: 29 Jan 2003
Location: who, what, where, when, why, how?

Posted: Mon Apr 14, 2014 4:50 pm Post subject:

Important people are watching the won, Steelrails. And trust me, they have a precedent for hair-trigger reactions to any spikes. If they didn't want to give the won some breathing room, they would pounce on it in milliseconds.

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