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Destroy the dollar, get re-elected

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keane

Joined: 09 Jul 2007

Posted: Sat Nov 03, 2007 5:41 pm Post subject: Destroy the dollar, get re-elected

then fiddle while it all burns down and spins into chaos. Note the DATE:

Analysts fear dollar decline could spin out of control

Quote:

Global Finance, Nov 2003

FOREIGN EXCHANGE

THE AMERICAS

The Bush administration is seeking an orderly decline in the dollar ahead of the US presidential election in 2004 in the belief that a weaker dollar will mean more exports, more jobs and more votes, analysts say. They warn, however, that the dollar's slide could accelerate to the point that it becomes difficult to control.

President Bush himself has called for a level playing field in the currency market, and there is no indication that US policymakers are even remotely concerned about a potential problem in funding the current-account deficit, says David Gilmore, partner and economist at Essex, Connecticut-based Foreign Exchange Analytics.

"By assigning a low probability to a current-account funding problem for the US, the Bush administration is, in effect, elevating the risk of a dollar crisis," Gilmore says.

To be fair, the administration has achieved an orderly dollar decline in the last year since the policy was put into place, he says. "But our problem is, What happens if the dollar decline spins out of control and becomes disorderly?" he asks.

In periods of strong directional trades like the present, with the dollar marching steadily lower, the foreign exchange market usually keeps pushing the trend until official opposition is flushed out, Gilmore says. The market has a strong tendency to overshoot once a trend has set in...

Joo Rip Gwa Rhhee

Joined: 25 May 2003

Posted: Sat Nov 03, 2007 6:04 pm Post subject:

US dollar worth more in Korea than it was in 1996. I am all in favor fo sending the dollar much lower. In fact the US ought to crash it. It will make it easier for US exporters and industry. With out any sort of protectionism. Plus it will encourge Americans to use less oil that is certainly a good thing.

keane

Joined: 09 Jul 2007

Posted: Sat Nov 03, 2007 7:30 pm Post subject:

Joo Rip Gwa Rhhee wrote:

US dollar worth more in Korea than it was in 1996.

I am all in favor fo sending the dollar much lower. In fact the US ought to crash it.

It will make it easier for US exporters and industry. With out any sort of protectionism.

Plus it will encourge Americans to use less oil that is certainly a good thing.

The world is not so simple as your thoughts on it are.

Kuros

Joined: 27 Apr 2004

Posted: Sat Nov 03, 2007 8:36 pm Post subject:

keane wrote:

Joo Rip Gwa Rhhee wrote:

The world is not so simple as your thoughts on it are.

The fall of the dollar is a good thing

Let the dollar fall

And here's a more balanced take from the Economist.

Of course, these people are all fools, because they disagree with Keane. Rolling Eyes

wannago

Joined: 16 Apr 2004

Posted: Sat Nov 03, 2007 9:10 pm Post subject:

keane wrote:

Joo Rip Gwa Rhhee wrote:

The world is not so simple as your thoughts on it are.

You mean simpler than "Bush is bad, Bush is bad, Bush is bad, Bush is bad"....ad nauseum?

Actually, it is quite simple. A falling dollar isn't all bad. It is evident that a correction was needed. This is that correction. I think Joo hit the nail on the head and the 3 articles Kuros posted put it in perspective well. Really, BLT, you need to take off your "Bush is bad" glasses and look at the bigger picture on this issue. We all know you hate President Bush...but the economy is larger than the President. The nation will continue to chug on economically long after the eeeeevil Bushie is gone...and he will be gone in Jan. '09. Whether you like it or not, the dollar and the U.S. economy still set the pace for the world economically. While the influence may be less now with a weaker dollar, don't fool yourself into thinking that the ship is sinking.

C'mon, use that brain you say you have.

keane

Joined: 09 Jul 2007

Posted: Sat Nov 03, 2007 9:22 pm Post subject:

Kuros wrote:

keane wrote:

Joo Rip Gwa Rhhee wrote:

The world is not so simple as your thoughts on it are.

The fall of the dollar is a good thing

Let the dollar fall

And here's a more balanced take from the Economist.

Of course, these people are all fools, because they disagree with Keane. Rolling Eyes

Before I can even read any of the links you provide, you pull that shit? You're a fool for speaking at all where I am concerned. You haven't the slightest idea what I think about anything, even those issues on which I have posted extensively. You don't listen, you don't read, you simply act like a child because what I post scares you.

I posted the OP for one reason and one reason only: the prescience of it. The fears were that BushCheney would precipitate a dollar collapse with their actions, and their reasons were to get re-elected. It happened. Yet, the best you can do is act like a damned fool and toss pointless insults.

ANYTHING that happens can be claimed to have positive or negative effects. ANYTHING. Simplistic. You are. Your posts are. Your analysis is. THINK.

An example of a BAD change from the weak dollar: oil producing nations moving off the petrodollar.

I hate intentional stupidity.

Last edited by keane on Sun Nov 04, 2007 7:48 am; edited 1 time in total

wannago

Joined: 16 Apr 2004

Posted: Sat Nov 03, 2007 10:09 pm Post subject:

keane wrote:

Kuros wrote:

keane wrote:

Joo Rip Gwa Rhhee wrote:

The world is not so simple as your thoughts on it are.

The fall of the dollar is a good thing

Let the dollar fall

And here's a more balanced take from the Economist.

Of course, these people are all fools, because they disagree with Keane. Rolling Eyes

Before I can even read any of the links you provide, you pull that *beep*? You're a fool for speaking at all where I am concerned. You haven't the slightest idea what I think about anything, even those issues on which I have posted extensively. You don't listen, you don't read, you simply act like a child because what I post scares you.

I posted the OP for one reason and one reason only: the prescience of it. The fears were that BushCheney would precipitate a collar collapse with their actions, and their reasons were to get re-elected. It happened. Yet, the best you can do is act like a damned fool and toss pointless insults.

ANYTHING that happens can be claimed to have positive or negative effects. ANYTHING. Simplistic. You are. Your posts are. Your analysis is. THINK.

An example of a BAD change from the weak dollar: oil producing nations moving off the petrodollar.

I hate intentional stupidity.

I find it amusing that someone who whinges about environmental issues would complain about a weak dollar that will, ultimately, make fuel more expensive. Do you care about your "man-made global warming" or not?
What will drive Americans to find alternate fuel sources quicker than high-priced oil? This is one of the many reasons you are a hypocrite. At least now we know that you care more about criticizing eeeevil Bushie than you do about the environment.

What oil-producing country has moved off the dollar? Saudi Arabia and the UAE have talked about it, but haven't made the move. Why? They know that the dollar, while it is weak now, will rebound. It always has before.

I hate hypocritical economic stupidity.

Adventurer

Joined: 28 Jan 2006

Posted: Sun Nov 04, 2007 12:48 am Post subject:

Iran is the only oil-producing country that has gone of the dollar. I would assume Venezuela still uses dollars. I am not certain. A lower dollar to some extent might be good, but if it goes too low, it might shake confidence in the US economy unless the employment numbers are very good and exports increase and imports decrease. I think the Yuan should go up in value. It is too low in relation to most currencies.

keane

Joined: 09 Jul 2007

Posted: Sun Nov 04, 2007 7:53 am Post subject:

I see your mental acuity hasn't improved since last we met.

wannago wrote:

Simplistic, son. Simplistic. Ask your momma what ASSumptions do.

1. A weak dollar makes fuel more expensive in the US, not China. US consumption is already flat. If it helps drive it down further, great. But don't stupidly claim I implied there are no benefits of a low dollar when I already addressed simplistic thinking as STUPID. Consider yourself branded.

The rest of your post is as useless as the above. Consider it ignored. Come back around when you have a clue about the complexity of the issues. You have no idea what's coming, ostrich.

keane

Joined: 09 Jul 2007

Posted: Sun Nov 04, 2007 7:57 am Post subject:

Adventurer wrote:

Iran is the only oil-producing country that has gone of the dollar. I would assume Venezuela still uses dollars. I am not certain.

A lower dollar to some extent might be good, but if it goes too low, it might shake confidence in the US economy unless the employment numbers are very good and exports increase and imports decrease. I think the Yuan should go up in value. It is too low in relation to most currencies.

The issue of the petrodollar is in great flux right now. What will happen is unknown, but a weak dollar has more than one nation thinking about it.

The confidence level is the biggest issue at this time as opposed to any concrete economic problems. Nations are still dumping dollars and oil is being sold in denominations other than dollars.

I don't know that this is a bad thing, or even relevant over the long term. It depends, in part, on how bad things get. They get bad enough, no currency is going to hold much value.

Kuros

Joined: 27 Apr 2004

Posted: Sun Nov 04, 2007 8:47 am Post subject:

keane wrote:

Kuros wrote:

keane wrote:

Joo Rip Gwa Rhhee wrote:

The world is not so simple as your thoughts on it are.

The fall of the dollar is a good thing

Let the dollar fall

And here's a more balanced take from the Economist.

Of course, these people are all fools, because they disagree with Keane. Rolling Eyes

Is your rant quite done?

Your post in the OP was from 2003. 2003. Things haven't quite come out the way the author has predicted since then. Your argument is that it still could.

The fall of the dollar is a sign of the success of globalization. The free flow of money and labor is breaking down borders. There needs to be an adjustment to reflect that. Americans import so much for so cheap, simply because the goods come from economies that were underdeveloped just a few years ago. Their subsequent development begets an emerging class of consumers. Those consumers can only buy American products should the dollar decline in value.

'Fall' is actually a misnomer. The image is of a precipitious drop. But thats not what is happening here. The dollar is slowly declining in purchasing power. If you look at the disparities in purchase power parity (PPP), you'll begin to appreciate (someone may, at least) what I am saying.

If you look at America, you'll see that the exchange rate GDP and purchase power parity GDP are about the same. $13 trillion.

Now go to Korea. The GDP is about $900 billion in terms of exchange rate. But your money would go farther in Korea than in the US, and this is reflected by the estimated true value, the PPP GDP of about $1.2 trillion. These are 2006 estimates, and no doubt since the exchange rate value of the Korean won is rising against the dollar, there is becoming less disparity between the actual value of the won and the exchange value.

Alright, lets end our journey in China. We have a huge disparity here. The exchange rate GDP is only $2.5 trillion, just two and a half times Korea's. But the PPP GDP is $10.21 trillion. That's comparable to the US' PPP GDP of $13 trillion. That means that in terms of what China can actually produce, its nearly equivalent to the US. The problem is, China's actual exchange rate GDP is one-fifth of the US'.

Looked at from per capita GDP, each Chinese on average can purchase $7,800 worth of goods in China (and remember that the horribly unequal distribution of wealth in China messes this figure up). But if that same Chinese took his salary to America, it would be impossible for that Chinese to survive on his less than $2,000.

This is why the dollar is 'falling.' It needs to keep its steady decline until the PPP of major powers fall within the reasonable deviation between Korean and America PPP/exchange rate ratios.

Juregen

Joined: 30 May 2006

Posted: Sun Nov 04, 2007 8:35 pm Post subject:

"Beg Thy Neighbor" Will they ever learn.

wannago

Joined: 16 Apr 2004

Posted: Sun Nov 04, 2007 10:25 pm Post subject:

Kuros wrote:

keane wrote:

Kuros wrote:

keane wrote:

Joo Rip Gwa Rhhee wrote:

The world is not so simple as your thoughts on it are.

The fall of the dollar is a good thing

Let the dollar fall

And here's a more balanced take from the Economist.

Of course, these people are all fools, because they disagree with Keane. Rolling Eyes

Well done, Kuros. I tried to put it simply for the simple. You put it eloquently. I just hope he understands....but I doubt it.

Hey BLT....again, it doesn't get much more simple than "Bush is bad"...and that, my friend, is your entire MO.

keane

Joined: 09 Jul 2007

Posted: Mon Nov 05, 2007 12:47 am Post subject:

Kuros wrote:

keane wrote:

Kuros wrote:

keane wrote:

Joo Rip Gwa Rhhee wrote:

The world is not so simple as your thoughts on it are.

The fall of the dollar is a good thing

Let the dollar fall

And here's a more balanced take from the Economist.

Of course, these people are all fools, because they disagree with Keane. Rolling Eyes

Is your rant quite done?

Your post in the OP was from 2003. 2003. Things haven't quite come out the way the author has predicted since then. Your argument is that it still could.

If I had been ranting, little man, no. (Can't you @#$%#$ just respond to a post without instigating another round of insults?) This issue is far from over. While your egotistical foolishness allows you to believe you know the answer, I do not think I know the answer. Yet. But it's coming clearer. There's a nice little article for you ostriches on the thread where this all began.

Show me where you've been right and I wrong. I said more than a month ago this thing wasn't over and would get worse while you've been saying it's all a lot of hot air.

Ostriches.

wannago

Joined: 16 Apr 2004

Posted: Mon Nov 05, 2007 12:50 am Post subject:

keane wrote:

Ostriches.

OK, we'll keep that in mind Chicken Little.

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