Falling dollar.. Good or bad?

W

wez

New member
You mean the part about all of us being on the hook to pay off the loans that these people took out on houses that they couldn't afford? Yea, it is depressing.
You'd think that someone would remember how horrible an idea this was when there was the savings and loan bailout.
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That gets me the worst.. Plus, it will continue to keep asset prices artificially high..

Really though, all the people who bit off more than 10 generations could chew wont reap a windfall.. It'll be the 1% who own everything and everyone..

 
Old Salt

Old Salt

New member
I see the market's tumbling and oil is rising again.. At what point does this turn into WWIII ?

A global economy is fine, as long as the standards are the same. I'm tired of the freaking lip service.. "outsourcing is good, blah, blah, blah"... Good for who is the question.. The slaves?

Somethings gonna give at some point.. Aint gonna be pretty.

Wonder what I should have for lunch today.. Nine lives, Meow mix, or Friskies? Hmmmmmmmm
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****, wish I could afford the good stuff. :(
 
W

wez

New member
Well.. here "we" go again.. Grab your buckets and sponges, "we're" taking on water...

Fannie, Freddie stocks and bonds plummet | Reuters

....Stoking concerns, former St. Louis Federal Reserve President William Poole said the two major U.S. mortgage finance companies were "insolvent" and may need a U.S. government bailout, according to Bloomberg News.
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Republican presidential candidate Sen. John McCain told reporters the two companies "cannot and will not fail" and that "we will do what's necessary" to keep the companies afloat.
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You do that, genius..

I got two words and a couple quotation marks for that..

Frack "them"

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W

wez

New member
Basically, these two companies divert all risk for irresponsible lending and borrowing onto the shoulders of American taxpayers..

Better save em up McBrain....

 
snafu

snafu

New member
Basically, these two companies divert all risk for irresponsible lending and borrowing onto the shoulders of American taxpayers..

Better save em up McBrain....
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Yeah well what are you gonna do? They are insolvent. Should the goverment take over as the lender/repo man?

 
Chi

Chi

New member
For me personally, I'm quite ****** the fed again steps in and lowers rates to throw a bone to all those great folks who feel it's their *** given right to spend more than they make.
I've been a saver my entire adult life and have got nothing for my efforts but rapidly decreasing value of my dollars.

Despite earning 9%, I can't even tread water.. Eventually the piper must be paid and I don't feel putting it off and selling the youth of our country into slavery so I can pretend I'm rich til I die is necessarily the best choice even though the guv seems to think so.

You paid 10x more than your house is worth in relation to wages? "We'll lower interest rates, trash the dollar, and not care because we'll delay the consequences of our actions til we die. Screw kids, we owe them nothing but the problems we create." << seems to be the current, onging policy that aint gonna change anytime soon.. Seems saving money is for suckers.. I shoulda blew it all on weed and booze when it was still worth something..

Eventually, the dollar must be strengthened.. or it will become a joke, along with our entire country.. I thought our government was there to BENIFIT it's citizens, not sell them into indentured servitude for the duration of their life..Not that indentured servitude is'nt a reality for most Americans already.. just gonna get a lot worse before if and when it gets better.. Prolly not in my lifetime.. Baby boomers are gonna retire and I get to pay! Yay me.

Falling $$ = price of oil rises.. Coincidence that our entire administration are/were oil men? I'm sure they'll be kind and generous when they own all of us.. no need to worry.

What's funny.. long term interest rates have actually risen since they lowered the fed funds rate the other day... Costs more to get a mortgage today than yesterday. Also costs more to buy a barrel of oil... Way to go Bernanke! What an idiot... gonna be funny to watch him take the rap when the bottom falls out of his bullcrap and people scream ****** murder that they can't sell their rambler for 1.2 mil. no matter what he does.. I'm sure business owners will love their employees telling them, "I need a raise, I can't survive on ramen and I can't borrow any more money to live beyond my means".

How do you guys feel about the current state of the economy? Make enough in wages to pay the obligations and save for a time when the body wont let you work but still needs to be housed and fed? Glad I aint a kid... Kids who aint even born yet have been sold out.. Sad. I'm ******..

Hey eddo.. remember that post I did at TJ about the commercial for centerpoint threatening deadbeats? I saw yesterday that 160,000 Minnesota households are in arrears on their bills and owe more than 55 mil.. Now I see why it's feasable to pay tens of thousands for a blanket commercial.. That's a **** of a lot of stamps.. And a lot of households for a state with a population of only 4 - 5 million individuals. I also saw Britain had a good old fashioned bank run the other day ala The Great Depression.. Nice.
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How can the falling of the value of our dollars be anything else, BUT bad??

 
W

wez

New member
It can increase the amount of exports of US goods to other countries because their currency can buy more stuff.
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Yeah Chi, so if you're an executive of an "American" company with buddies in the government, having Asian slaves make your goods and sell them for Euros, Yuans, Pesos, Pounds, Marks, Canadian dollar, etc... You're kicking ***.. I know that fits my profile.. :rolleyes:

 
W

wez

New member
Yeah well what are you gonna do? They are insolvent. Should the goverment take over as the lender/repo man?
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Government should govern.. not babysit their buddies bank accounts so they have someone to golf and vacation with.. :rolleyes:

Let em fail.. free market? Prove it..

Interesting.. Sitting here watching CNBC and apparently ***** and Freddy give millions in "contributions" to the two political parties.. How does that work? Duhhhhhhh

 
Old Salt

Old Salt

New member
It hurts 99.99% of Americans..
Dow below 11,000 for first time in two years - Stocks & economy - MSNBC.com

Oil climbs to new record above $147 - Oil & energy - MSNBC.com
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An interesting quote from your second article:

The problem is that while U.S. consumer demand is waning as people try to save money, other factors are keeping energy costs high. Those factors include the weak dollar, refineries cutting back on production and relatively resilient demand for diesel fuel. Diesel is a distillate fuel that is produced and distributed similarly to heating oil, so diesel demand often affects the price of heating oil.
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Gotta keep the price of gas up and what better way than reducing supply?
 
W

wez

New member
Gotta keep the price of gas up and what better way than reducing supply?
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Makes sense... if you're bathing in oil..

Like I said, our ability to manipulate oil prices is nil..

 
Chi

Chi

New member
It can increase the amount of exports of US goods to other countries because their currency can buy more stuff.
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It's still not a good thing for us.

More quantities for others, yet less profit for us= not good.

 
Chi

Chi

New member
Yeah Chi, so if you're an executive of an "American" company with buddies in the government, having Asian slaves make your goods and sell them for Euros, Yuans, Pesos, Pounds, Marks, Canadian dollar, etc... You're kicking ***.. I know that fits my profile.. :rolleyes:
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That doesn't make sense to me. And I really couldn't care less about rich executive bastards. I don't think the current bad economy, the falling dollar, etc. is going to affect them too much.

 
snafu

snafu

New member
It can increase the amount of exports of US goods to other countries because their currency can buy more stuff.
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It's still not a good thing for us.
More quantities for others, yet less profit for us= not good.
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Yes this makes our goods cheaper and more will buy American products. Also it will stimulate more tourism which will stimulate our economy.

 
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