Korean Job Discussion Forums

[Ranman]

...on the exchange rate?

[wishfullthinkng]

who knows? if the government stays shut for a while and $hit really hits the fan then of course the usd will tank for a while, and if they don't get their act together it'll probably stay that way.

[greene]

wishfull thinkng..

[ttompatz]

They haven't been around long enough to remember the late 90s.

.

[Stan Rogers]

It's only a partial shutdown. Like 30% of the workers getting a day off from work. Big deal. 70% of the government workers in the US are "essential" so I don't see anything extrordinary happening.

[lithium]

[Who's Your Daddy?]

If it does shutdown, a few weeks later it will be back to normal and so will the exchange rate. Unless you're leaving next week, not a worry.

[Weigookin74]

It means the FD frieken A ain't gonna be able to regulate how much wheat gets put into your wheaties for a couple of weeks!!!!!!!!!!!!!!!!!!

[nicwr2002]

So far so good, still holding at 1000 won = .93 cents.

[andrewchon]

Because govt is not allowed to borrow money while it's shutdown and debt ceiling is not going to be raised, the Treasury predicts that USA will be bankrupt by Oct 17th. Dollar is expected to nose dive.

[beison]

Just because the dollar would lose value, don't expect that to directly translate into a stronger won... Lots of US debt is held by the Korean govt, and in addition a big portion of the korean economy comes from the export of goods to the US. If the dollar plummets, and the won gains value, its not good for established margins.
Nothing too big will happen, otherwise the government will make some adjustments to protect the economy.

[andrewchon]

Tomorrow, USA govt will be bankrupted. China will buy USA for a nominal value of 1 Yuan and take over their debt. China will give USA the Bane/Romney treatment. China will install a new management. It'll consist of: One Party government of Socialism with Chinese characteristics. Canadian guy will be the new puppet president. People's Republic of America with Chinese characteristics will borrow heavily against US assets, pay themselves huge bonus with that money, slash payroll, pay themselves more bonus with that money, sell-off assets, pay themselves even more bonus with that money.

Good news: govt will be small!

Bad news: everybody will have health insurance

Good/Bad news: No alcohol and no porn!

It'll be somebody's paradise, I don't know whose, but a paradise nontheless.

[young_clinton]

I can't believe it, now the question is what effect will a government default have? I hope Americans remember the correct party that has brought this idiocy about. I am pretty sure they will.

[nicwr2002]

Obama is hoping for a martial law scenario where he can blame the GOP for obstructing the government.

[young_clinton]

I think he can have the American debt paid by executive order, but congress would have to sign something into law to pay the debts within 3 months. That action would still damage the US credit rating and the economy.