Korean Job Discussion Forums

[Dev]

This year the total spending on the Iraq war will hit 800 billion dollars
Home foreclosures
The average American owes $3000 in credit card debt.
The massive trade deficit with China
and the latest I've read (in Richard Branson's book) is that the U.S. is borrowing money from China to buy oil in the Middle East. Borrowing money from China!!! What the hell?

Am I wrong to think this looks bad? What will become of it? Do you think the U.S. dollar will remain a good currency to invest in?

[JustJohn]

You're absolutely right. The dollar is almost certainly going down. Probably fairly soon, and probably fairly hard.

[Bigfeet]

The US needs a 30s style depression so it can learn about saving again.

[sojourner1]

Is the U.S. Dollar a Safe Investment?

In short. NO


If buying contracts to sell USD at todays rate in 6 to 12 months from now, you might win. If buying contracts to buy at todays rate, then look to lose your arse.

If buying USD today, then expect them to be worth less later where you lose. If selling USD today, then you might be doing yourself a favor.


I'm interested in a GBP or a Euros account as Europe seems very smart in their game, but I am not an E.U. national.

[xingyiman]

No the dollar is not a good investement right now as is anything else in the US economy. Not long ago i was being laughed at on this forum for suggesting that the US economy was going to end up in full tilt and the possibility of any of us returning to those coveted "six figure" jobs that we all seem to have waiting for us was complete and utter foolishness.

[mises]

Short, medium or long? Short, no. Medium, prolly not. Long, likely yes.

The US, like the UK/Spain/Ireland/Canada and many others are going to experience a very significant recession.

[monkeyfish]

Long-term investment? No way. They've run of oil. It's over. Surely there's no coming back now... what would the comeback be based on?

[relaxed111]

Hum...US dollars, no not a good investment unless you need then to move quickly between countries. But, now even this is being overtaken by the Euros.
Being a Canadian I had keep an investment in Canadian funds here with my Korean bank. But, I agree with the EU being more stable in the long run now.
Result, change to an Euros account after my vacation, but also starting to invest in stock funds here in Korea. A much higher return on the investment than in North America I believe. But, they will still get us for taxes from our home countries.