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atwood
Joined: 26 Dec 2009
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 Posted: Tue Apr 15, 2014 12:43 am Post subject: |
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| mr_thehorse wrote: |
| atwood wrote: |
| Jongno2bucheon wrote: |
| atwood wrote: |
| Jongno2bucheon wrote: |
| 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.
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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] |
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. |
Quantitative easing isnt about dollar debasement?
Korean products are cheap?
Are you aware we are in the year 2014?  |
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. |
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. |
No, it's mid-level, above the Visios and the like but below the real premium brands like Panasonic. But the differences aren't big enough and new TVs usually so much better that what consumers have when they go to by, that very few are willing to spend the extra for the best. And I can't say that I blame them.
AS for manufacturing overseas, there's still a local currency to be repatriated and converted to won. So a weaker won still means more profit, which is important to companies that sell on price and have slim profit margins to begin with.
QE has helped economies such as Korea's, which wants the policy to continue, so it makes no sense to compare it to the currency manipulation Korea engages in. |
panasonic was no 1 in plasmas. but plasmas tvs are out now
samsung lcds were no 1 over panasonic
led and smart tvs its pretty much lg samsung and panasonic
anyways your arguments were pretty bad. korean products are low quality and only compete on price? You should have studied harder in school it seems |
Obviously good enough to stop you from being able to refute them. Otherwise, you wouldn't resort to elementary school-level insults.
But if you're satisfied with the low cost spread, more power to you. I'd rather bring out the Hellmann's and bring out the best.
And kudos to Samsung's American ad agency for selling you a real bill of goods.
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par for the course to the kid who calls his twin brother joseph goebbels.
atwood and a tub of mayo. that would explain alot. my apologies. i'll leave you alone now. |
Nice try but no bag of oats. Getty up, little pony. |
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Jongno2bucheon
Joined: 11 Mar 2014
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| Posted: Tue Apr 15, 2014 1:01 am Post subject: |
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| atwood wrote: |
| mr_thehorse wrote: |
| atwood wrote: |
| Jongno2bucheon wrote: |
| atwood wrote: |
| Jongno2bucheon wrote: |
| 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.
|
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] |
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. |
Quantitative easing isnt about dollar debasement?
Korean products are cheap?
Are you aware we are in the year 2014? |
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. |
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. |
No, it's mid-level, above the Visios and the like but below the real premium brands like Panasonic. But the differences aren't big enough and new TVs usually so much better that what consumers have when they go to by, that very few are willing to spend the extra for the best. And I can't say that I blame them.
AS for manufacturing overseas, there's still a local currency to be repatriated and converted to won. So a weaker won still means more profit, which is important to companies that sell on price and have slim profit margins to begin with.
QE has helped economies such as Korea's, which wants the policy to continue, so it makes no sense to compare it to the currency manipulation Korea engages in. |
panasonic was no 1 in plasmas. but plasmas tvs are out now
samsung lcds were no 1 over panasonic
led and smart tvs its pretty much lg samsung and panasonic
anyways your arguments were pretty bad. korean products are low quality and only compete on price? You should have studied harder in school it seems |
Obviously good enough to stop you from being able to refute them. Otherwise, you wouldn't resort to elementary school-level insults.
But if you're satisfied with the low cost spread, more power to you. I'd rather bring out the Hellmann's and bring out the best.
And kudos to Samsung's American ad agency for selling you a real bill of goods.
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par for the course to the kid who calls his twin brother joseph goebbels.
atwood and a tub of mayo. that would explain alot. my apologies. i'll leave you alone now. |
Nice try but no bag of oats. Getty up, little pony. |
youre like bradley when he lost to paqman.
In a world of his own believing he won. It's amazing when you Meet someone as thick headed as that. makes you marvel at human kind. ..like when you Meet a three eyed man
anyways. have a good day |
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dairyairy
Joined: 17 May 2012
Location: South Korea
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| Posted: Tue Apr 15, 2014 5:44 am Post subject: |
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| 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?? |
With the development of a middle class and a large consumer class, with appetites for foreign goods, the ROK economy has become more complex, which is generally a good thing. It also means that rising and falling exchange rates do create winners and losers. Anyone who makes a blanket statement that "Higher won is bad for ROK" doesn't understand the complexities.
Remember, too that bigger economies have more control over their currencies, and since the ROK generally measures the value of the won versus the USA dollar, when the USA dollar declines in value then the won may appear to be stronger, even when it is not. |
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optik404
Joined: 24 Jun 2008
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| Posted: Tue Apr 15, 2014 6:24 am Post subject: |
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| I don't know what's going on in this thread, but atwood, you gotta up your game with the insults and nicknames. They are just terrible. |
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atwood
Joined: 26 Dec 2009
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| Posted: Tue Apr 15, 2014 5:19 pm Post subject: |
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| optik404 wrote: |
| I don't know what's going on in this thread, but atwood, you gotta up your game with the insults and nicknames. They are just terrible. |
Thanks a lot.
I didn't realize anyone was actually reading my posts. |
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bobbyhanlon
Joined: 09 Nov 2003
Location: 서울
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| Posted: Tue Apr 15, 2014 5:39 pm Post subject: |
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Out of an economically active population of around 25 million, only 1.2 million are employed by the top 43 chaebol. Samsung electronics employs 89000 people in Korea, and Hyundai Motor 61000.
Samsung and Hyundai may be the companies people want to work for, but these days, they don't need that many Korean workers. When they expand, they expand abroad.
As an aside, the biggest % increase in head count in the past 5 years has been at CJ, which is more of a domestic consumption focused firm.
The country is however still too weak on the domestic consumption front, the result of being an export oriented economy for just a little bit too long. Exporting was a great model for Korea from the 1960s onwards, but it's time for a re-balancing. Allowing the own to go where it naturally wants to go should be part of that.
| Steelrails wrote: |
| bobbyhanlon wrote: |
indeed, korean exports clearly aren't shite. there's a good reason people are buying more hyundai cars and galaxy phones than ever. they're simply well-made products.
but shite or no shite, the sad reality is that korean consumers have been shat upon for decades, thanks to an underpriced won. the bank of korea has kept the won artificially weak in order to help samsung et al., and the average korean housewife pays for it every time she goes to the supermarket. meanwhile that galaxy phone or hyundai car tends to cost more here than it does in europe or the us, showing you exactly how grateful these companies are for the assistance of the nation.
what is interesting is that now, companies like samsung electronics make more and more of their products outside of korea, and sell them outside of korea. they are not so reliant on korea any more, and one can imagine a time when the price of the won makes virtually no difference to korea's largest companies. other things being equal, the won should strengthen in the long run as the chaebol demand for a weak won disappears. |
Well, the Korean housewife is hopefully benefiting by her husband having gainful employment at one of those export-driven firms. If it means a more expensive car (oh well, you have to get a 1.8L instead of a 2.0), that's a small price to pay for a good job.
On the other hand, you do mention the growth of outsourcing. It doesn't help that many young Koreans are unwilling to work factory jobs, even if they pay well. If the chaebols and the Korean domestic worker drive manufacturing out of the country and cease to offer that gainful employment, then the country and its people should cease to support policies favorable to them. If that weak currency isn't doing anything to ensure gainful employment, then it's worthless.
Hyundai's that are $1,000 cheaper are worth little if you're employed at Lotteria. Same with back home, Wal-Mart's low priced Chinese goods are worth little if you are working at Wal-Mart because your American company produced more expensive goods which Wal-Mart decided not to carry and you are now unemployed.
There is a time for strengthening of one's currency. I'm not convinced this is the present time and situation. |
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Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
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| Posted: Tue Apr 15, 2014 6:33 pm Post subject: |
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| atwood wrote: |
| optik404 wrote: |
| I don't know what's going on in this thread, but atwood, you gotta up your game with the insults and nicknames. They are just terrible. |
Thanks a lot.
I didn't realize anyone was actually reading my posts. |
A tip- funny and true work better than strange and over-the-top. Calling me Goebbels makes you look like a nut, not clever.
Now ones like- Steeler'sWheel, Steelwheels, Steelheart, Derails, Offtherails, Laymedownsomerails, rustyrails, Steelfails, and so on are good. Heck, try something that's not a play on the name, but it shouldn't leave people scratching their heads like 'blind rabbit' or thinking "internet hyperbolic" like comparing me to a Nazi war criminal. |
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No_hite_pls
Joined: 05 Mar 2007
Location: Don't hate me because I'm right
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| Posted: Tue Apr 15, 2014 6:52 pm Post subject: |
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| Quote: |
| With the development of a middle class and a large consumer class, with appetites for foreign goods, the ROK economy has become more complex, which is generally a good thing. It also means that rising and falling exchange rates do create winners and losers. Anyone who makes a blanket statement that "Higher won is bad for ROK" doesn't understand the complexities. |
+1 |
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atwood
Joined: 26 Dec 2009
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| Posted: Tue Apr 15, 2014 7:18 pm Post subject: |
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| Steelrails wrote: |
| atwood wrote: |
| optik404 wrote: |
| I don't know what's going on in this thread, but atwood, you gotta up your game with the insults and nicknames. They are just terrible. |
Thanks a lot.
I didn't realize anyone was actually reading my posts. |
A tip- funny and true work better than strange and over-the-top. Calling me Goebbels makes you look like a nut, not clever.
Now ones like- Steeler'sWheel, Steelwheels, Steelheart, Derails, Offtherails, Laymedownsomerails, rustyrails, Steelfails, and so on are good. Heck, try something that's not a play on the name, but it shouldn't leave people scratching their heads like 'blind rabbit' or thinking "internet hyperbolic" like comparing me to a Nazi war criminal. |
Ha, ha Herr G.
It;s not about being clever or making sure others on Dave's "get it." It's calling a spade a spade.
Besides, I come here mostly to entertain myself, but your ignorant deceit-driven drivel just cries out to be rebutted. |
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Weigookin74
Joined: 26 Oct 2009
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| Posted: Tue Apr 15, 2014 8:05 pm Post subject: |
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| Underwaterbob wrote: |
| Is this strong won? I was under the impression the Canadian dollar was tanking. |
A little bit from column A and a little bit from column B. Much of my first year or so, 2 million won was about 2300 bucks. Then at the end of 2007, the cdn dollar shot up to $1.10 US and the exchange rate for me fell to parity. 2 million won became around 2000 bucks. Kind of sucked but, I got a 200,000 won raise around this time. First year EPIK was at that time 1.9 million won? So, I was out a little over a hundered bucks. Then less than a year later through the summer and fall of 2008, the dollar dipped to parity against the US dollar $1.00 USD was $1.00 CAD. So, the won should have gone back up, but instead it fell further. 2 million won became 1700 bucks and mostly stayed there until early 2013. Occasionally, it would go up to 1800 bucks just to be a tease, but then crash back down.
Nowadays, the dollar is at around 90 cents US? Much of 2013, the won climbed back to 2008 levels. Now, it;'s just above those levels, though still lower than most of 2006 and 2007s. Hopefully, it will get back to those levels. I think it has much to do with Korea's own economy and Europe's and North America's economy as Korea is a big exporter.
It would be awesome if it continues to climb. Though I'm greatful for the rise again, it sure is taking long enough. There were a couple of lean years where the amount going into my Canadian bank account was down a lot due to that. Credit card interest and student loans took just about everything. Very little was tackling the CC principal until I went to extreme belt tightening levels. Fallen won raped a lot of us. But, now, finally, hopefully things will be great again. |
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Steelrails
Joined: 12 Mar 2009
Location: Earth, Solar System
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| Posted: Wed Apr 16, 2014 1:32 am Post subject: |
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| atwood wrote: |
Besides, I come here mostly to entertain myself, . |
So you come here to engage in some mental masturbation and turn your deadwood into an atwood? |
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atwood
Joined: 26 Dec 2009
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| Posted: Wed Apr 16, 2014 2:16 am Post subject: |
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| Steelrails wrote: |
| atwood wrote: |
Besides, I come here mostly to entertain myself, . |
So you come here to engage in some mental masturbation and turn your deadwood into an atwood? |
That's the blind rabbit I know, running around in circles and never getting anywhere.
But kudos on the alliteration, even if it was an obvious cliche. |
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