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#320 - 09/13/07 12:26 PM The falling US dollar
MCSA TEK Offline
pledge


Registered: 09/13/07
Posts: 97
Loc: Orlando Fl USA
I have been struck recently by the increase in news stories about very bad changes in the US economy. Numerous large banks laying off employees with the end plan to remove thousands of jobs by the year’s end. Home builders are unable to sell homes, and the Auto industry is showing record shortfalls in their sales for this year.
I read an excellent article about the fact that; credit card companies are reporting startling increases in card balances. Apparently they believe that people, unable to get home equity loans are maxing out their credit cards in order to buy the things that they feel they need. It seems that the sheeple are living beyond their incomes. Completely unaware of just how close the US economy is to a total collapse. They don’t understand that a credit freeze has just taken place. Very soon these people will run out of credit, (most likely after the Christmas holiday) they will be unable to get further credit because of the mortgage damage done to the banks. Banks are leaving the high risk debt market.
http://online.wsj.com/article/SB118955540976824460.html?mod=hpp_us_whats_news
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/09/cndebt109.xml
Our economy that is already slow and jettisoning jobs will come to loud and grinding halt.

Just look at the latest headlines.
IMF predicts only 'moderate' US slowdown
http://economictimes.indiatimes.com/News...how/2363390.cms
JP Morgan predicts recession in US
http://economictimes.indiatimes.com/News...how/2363378.cms
ECB pumps $104 bn into banking system
http://economictimes.indiatimes.com/News...how/2363140.cms
Dollar tumbles to record low.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/12/bcndollar112.xml
Wal-Mart to roll out new ad-campaign
http://economictimes.indiatimes.com/News...how/2363127.cms

Does anyone else feel that things will get very bad, very soon?

Chris
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#324 - 09/13/07 01:41 PM Re: The falling US dollar [Re: MCSA TEK]
ta2zz Offline
veteran member


Registered: 08/28/07
Posts: 1552
Loc: Connecticut
This is where I am glad that my co-op (half of a house) is owned… My car while older has low mileage and is also owned… My job (tattoo artist) is pretty much depression proof, I will be able to tattoo for much less or even for valuables such as food and water… People get more tattoos when they are stressed… I have also survived 41 years without owning a credit card… Seems like there will be quite a few worse off than myself…

A general question for everybody to ask themselves:

Are you prepared for it? Are you prepared to reap any rewards that might come from this looming catastrophe?

Good first post Chris good to see you back…
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#325 - 09/13/07 02:00 PM Re: The falling US dollar [Re: ta2zz]
MCSA TEK Offline
pledge


Registered: 09/13/07
Posts: 97
Loc: Orlando Fl USA
I have the basics, like a stash of food and water. But my real concern is a sudden stock market collapse that destroys the value of the dollar. (For those of you who may not know this. The dollar used to be based on gold. Modern money is based on what people “believe” that it is worth. Its value shifts much like stock prices shift.)
The dollar’s value has plunged within the last few weeks. Just look at it compared to the Yen or the Euro. As the dollar drops, you will need more of them to buy the same things. It’s not inconceivable that you may need hundreds of dollars to buy a loaf of bread. Gold has skyrocketed this week, breaking the $700 an ounce mark. This is because investors are buying gold as its value is universal.

I’m considering pulling any excess savings I may have and converting some to gold, or silver, or perhaps some other foreign currency.
There is much to think about.
Chris
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#329 - 09/13/07 04:32 PM Re: The falling US dollar [Re: MCSA TEK]
ballbreaker Offline
member


Registered: 09/04/07
Posts: 134
Loc: Toronto, Canada
Join the military, it's guaranteed employment during a depression.
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#340 - 09/13/07 09:06 PM Re: The falling US dollar [Re: ballbreaker]
Nemesis Offline
senior member


Registered: 09/01/07
Posts: 2175
Loc: US
If it comes down to it, I'm looking into a future of petit theft. Or going to the country armed with guns, food, and water. In fact, my boyfriend buys silver coins periodically for just this scenario, not to mention that he has a closet full of handguns and assault rifles, cases of ammo, and an entire garage full of hurricane supply food and water. On second thought, screw the country. I'm heading over to my b.f's house with my birds and cats. He's a lot closer.
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#366 - 09/16/07 08:07 AM Re: The falling US dollar [Re: MCSA TEK]
Fist Moderator Offline
veteran member


Registered: 08/31/07
Posts: 1453
Loc: B'mo Cautious MF
And...

What most people do not understand is that the Federal Reserve Bank Corporation (yes, the 'Federal Reserve' is a private enterprise) is simply printing more money to keep the whole charade afloat.

Whenever the Fed lowers interest rates they are increasing the money supply. The US Treasury prints more green backs to keep up with the demand for cash. Thus, the value of the USD is further depressed.

People had best wake the fuck up and take our country back from the Oligarchs. We may wake up one day and find ourselves like Russia - a Third World country with a big army.
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#379 - 09/16/07 10:56 PM Re: The falling US dollar [Re: Fist]
ballbreaker Offline
member


Registered: 09/04/07
Posts: 134
Loc: Toronto, Canada
Fortunately the PRC still needs the buying power of the United States.

Any US residents here willing to propose what they would do to solve this problem if they were the President?

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#1930 - 11/15/07 07:20 PM Re: The falling US dollar [Re: ballbreaker]
jesusbeater Offline
pledge


Registered: 11/15/07
Posts: 79
Loc: Ireland
seems like a bit of a similar thread running through a lot of western countries at the moment.
Our economy her in Ireland has been thriving the last ten years so much so its been a case of squandering money and saving nothing. The majority of morons thought it would last forever but didn't realise that the economy was a house of cards built on an extremely fragile housing market.The housing market is now fucked and mass unemployment is foreseen and with rising interest rates thanks to the good old e.u. it looks like the country is gonna go through another depression like in the 80's.
Meanwhile money in the government has been allocated so badly that our health system isn't even adequate for a third world country, you probably stand more of a chance of getting aids in Ireland from getting a blood transfusion than being gangbanged and made drink blood by a bunch of heroin addicts.The problem is that how the country looked to the world was more important than how it actually functioned.Every project runs over budget and more often than not never makes it to the final stage.(hundreds of millions was wasted on building a soccer stadium that never even got built while treatment to cancer was and largely still is only available in maybe 7 or 8 counties out of 26)
I'm not a conspiracy theory nut or anything but it appears to me that there is something strange happening to alot of developed countries and almost every government has had a major role in it.Maybe if we're all back to harsher times we'll work like the Chinese or Japanese and pull together as nations to work as one for our countries and when we succeed we will be so grateful to our masters for leading us through those difficult times we will hand over all freedoms and become the slaves humanity truly is.
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#1946 - 11/16/07 11:27 AM Re: The falling US dollar [Re: ballbreaker]
ta2zz Offline
veteran member


Registered: 08/28/07
Posts: 1552
Loc: Connecticut
 Originally Posted By: ballbreaker
Any US residents here willing to propose what they would do to solve this problem if they were the President?


Why not ask Lincoln or Kennedy how to break away from the Federal reserve... Oh wait... They printed their own money and were assassinated...

Never mind...

~T~
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#2209 - 11/24/07 08:03 PM Re: The falling US dollar [Re: MCSA TEK]
Succubus666 Offline
member


Registered: 10/17/07
Posts: 161
Does anyone actually think that the US dollar is going to go back up in value within the next year? Or is it pretty much inevitable that it will continue to decline?

I live in Canada, and with the fall of the US dollar we’ve been hit with a rise in the value of the Canadian dollar. One would think this would be good for the economy, but many large companies who have factories and do their production work in Canada are now considering setting up shop in other countries like Mexico where the labor cost is less. The result is a lot of lost jobs and unemployment. Many Canadians are also driving over the border to purchase goods in the US because they get more value for their dollar, thus we see a decline in the Canadian retail economy.

Personally, I’m in a rather awkward position and am hoping that the US dollar does go up again. I’ve been running a business online for several years and have always accepted payment in US funds (which is a standard thing for most Canadian online retailers to do) and not something that I had previously considered changing as about 80% of my customers live in the United States. When I first started my business, $100 in US funds equaled $120 in CDN funds. Now that same $100 US equals maybe $95 CDN. So if I wanted to convert what I have in US dollars, I’d be losing about $25 per every $100.

So my dilemma is whether I should change the currency of my store to Canadian funds and risk losing some business assuming the value of the US dollar doesn’t go up again, or keep things the way they are and have my fingers crossed hoping that the US dollar does go up again… Any input on this from either side of the border would be appreciated.

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#2210 - 11/24/07 08:18 PM Re: The falling US dollar [Re: Succubus666]
Nemesis Offline
senior member


Registered: 09/01/07
Posts: 2175
Loc: US
Tala,

Perhaps you should have a set price in CDN $ only, and let your US customers work around that. It's more fair to you, and it is your business. Perhaps even have a link to a currency converter on your website. Just as we in the US have to pay the equivalent of a British pound in US dollars, which has always been on average 2:1, so should you have it set with your prices. You can always change your polcies if the US dollar rises back up to it's former status in the future.

Best of luck.
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#2284 - 11/26/07 12:50 PM Re: The falling US dollar [Re: MCSA TEK]
Sinistar Offline
member


Registered: 10/07/07
Posts: 174
Loc: New York City
It's even gotten so bad that rappers are flashing Euros in their videos...
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#3774 - 02/02/08 02:34 PM Re: The falling US dollar [Re: Sinistar]
LUCIFERIFIC Offline
active member


Registered: 02/01/08
Posts: 629
Loc: CA
plus this war on terror. we're borrowing a billion dollars a day from China to keep the war going, which we as tax payers will be stuck with for a while. I say we all just stop fighting and learn Chinese while its not to late. Thats what happened when the Great Allen Greenspan quits the Feds. What I sit here and think about is the next twenty years. By then China will be a super industrialized power. With a billion people living in an industrialized nation do you have any idea how much energy and natural resources China will be consuming? Then by 2050 India will become a second industrial power; and they have a billion people. Man if our money is falling and dropping now, and the competition for natural resources gets fierce in the future, we won't have any money to pay an army to get what we need?
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#3778 - 02/02/08 03:02 PM Re: The falling US dollar [Re: LUCIFERIFIC]
Noc Offline
pledge


Registered: 12/12/07
Posts: 76
Loc: Delaware
Makes you wonder what Bush's agenda is to keep this war on going? Bush is trying to put a bill into effect that will keep us in IRAQ for years to come. I personally don't want to be around here in 20 years because will all be slaves to Chinese Government all thanks to Bush.

Bush took over the White House with I believe 360 Billion dollars in Surplus left to him from President Clinton, and Bush and the republicans went on a spending spree and now have a Trillion dollar deficiet and continues to rack it with borrowing money to support his war.

Bush has brought on a recession after many many months of denying it and still trying to deny it. Jobs are dropping and the housing market hasn't even begun to collapse from what it will be at in 2-5 years. And yet Bush continues to say the economy is doing great and were producing jobs etc. Well hes living in a fantasy world. The ones he has helped profit over the years like his vice President who looks like (Mr Smithers)with his company hailburton and black water etc....

There is billions of dollars that has vanished without a trace that was sent over to Iraq to buy equipment and help rebuild. Id say Bush and his buddies have themselves a nice little off shore account with all that lost money.

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#3781 - 02/02/08 03:48 PM Re: The falling US dollar [Re: Noc]
LUCIFERIFIC Offline
active member


Registered: 02/01/08
Posts: 629
Loc: CA
 Originally Posted By: Noc
Makes you wonder what Bush's agenda is to keep this war on going? Bush is trying to put a bill into effect that will keep us in IRAQ for years to come. I personally don't want to be around here in 20 years because will all be slaves to Chinese Government all thanks to Bush.

Bush took over the White House with I believe 360 Billion dollars in Surplus left to him from President Clinton, and Bush and the republicans went on a spending spree and now have a Trillion dollar deficiet and continues to rack it with borrowing money to support his war.

Bush has brought on a recession after many many months of denying it and still trying to deny it. Jobs are dropping and the housing market hasn't even begun to collapse from what it will be at in 2-5 years. And yet Bush continues to say the economy is doing great and were producing jobs etc. Well hes living in a fantasy world. The ones he has helped profit over the years like his vice President who looks like (Mr Smithers)with his company hailburton and black water etc....

There is billions of dollars that has vanished without a trace that was sent over to Iraq to buy equipment and help rebuild. Id say Bush and his buddies have themselves a nice little off shore account with all that lost money.

LOL I agree NOC. I don't think the Oligarchs have an "agenda" besides making their own asses and family richer and then baling out. The number of millionaire and billionaires in America is dropping because there all moving out. More people who "know" are beginning to stock pile and invest in gold and silver; then there's the great brain drain thats happening where those americans who graduate colleges and universities are leaving the States for foreign jobs in record numbers... leaving us with the retards and bible thumpers in the bible belt. Woo Hoo, look on the bright side: at least we got front row seat to the Fall of a great empire! Well I'm saved; I sent my $30 dollars to "Bob" Dobbs.
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Lux Lucet Ex Orientis


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#3845 - 02/05/08 03:23 AM Re: The falling US dollar [Re: LUCIFERIFIC]
daevid777 Offline
active member


Registered: 08/30/07
Posts: 951
Loc: Hell's Pisshole, Texas
At least you have "slack"...

What are we to do, mere mortals, against the rise of the pinkos?

I'm looking for jobs in Denmark... anyone there?
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