Posted on 11/02/2007 5:23:12 AM PDT by Thorin
The euro, worth 83 cents in the early George W. Bush years, is at $1.45.
The British pound is back up over $2, the highest level since the Carter era. The Canadian dollar, which used to be worth 65 cents, is worth more than the U.S. dollar for the first time in half a century.
Oil is over $90 a barrel. Gold, down to $260 an ounce not so long ago, has hit $800.
Have gold, silver, oil, the euro, the pound and the Canadian dollar all suddenly soared in value in just a few years?
Nope. The dollar has plummeted in value, more so in Bush's term than during any comparable period of U.S. history. Indeed, Bush is presiding over a worldwide abandonment of the American dollar.
Is it all Bush's fault? Nope.
The dollar is plunging because America has been living beyond her means, borrowing $2 billion a day from foreign nations to maintain her standard of living and to sustain the American Imperium.
(Excerpt) Read more at worldnetdaily.com ...
You are exactly right. But the free trade ideologues don’t want to be confused with facts.
Dude -- I could have WRITTEN that article.
As I may have told you before on another thread . . . I've made quite a bit of money in the last couple of years taking the OTHER side of currency trades with the U.S. dollar.
Who is to say the future final assembly plant will be in the US?
You think raising the cost of imports doesn't raise the prices that citizens pay? LOL!
What about the facts in post #29? LOL!
Yes, look at all the agricultural products and raw materials we are exporting. Our leading exports to China are agricultural products and raw materials. With many countries, our export profile resembles that of a Third World nation.
Almost every sector is growing too, by an average of 2.5 billion over those 5 years. The average percentage increase is over 64%!!
Crude oil is up 548%, fuel oil is up 367%, copper is up 322%, aircraft launching gear and parachutes are up 283%, steelmaking materials are up 267%, electric energy is up 247%, nonferrous metals are up 208%... vessels excluding scrap are down 75%, the biggest percentage loser (but down only 23% over the past 4 years... it was just a good year in 2002, I guess).
The only export areas down by more than a half a billion over the past 5 years are (not surprisingly) tobacco ($600M, or 31%) and household textiles/apparel ($1.21B, or 18%).
Boeing is already in China. Check out this url. Scroll down to the middle of the page and you will see what China manufactures for the Boeing 737 now. You might check out the paragraph prior to the 737 picture and see what Boeing has to say about China’s airplane industry.
http://www.cfr.org/publication/14399/
Do you have any particular Third World nation (or planet) in mind? Because the numbers I’m looking at indicate exactly the opposite.
Most of our everyday consumer goods are made in China. Do you really think US companies will shut down the China plant and bring it back to the US? No way.
They will still sell to the rest of the world with the china plant and we will end up with higher prices. The US is not the only consumer country in the world.
Those exports don't count? Why?
Our leading exports to China are agricultural products and raw materials.
China is a little more than 5% of our exports.
With many countries, our export profile resembles that of a Third World nation.
Really? Where does one find out the export profile of a Third World nation?
Our economy is nearly $14 trillion. How much are our "everyday consumer goods" worth each year?
Sorry to burst your bubble, but if you look at the top exports (in my post #88), 23rd place (fuel oil) is the highest raw material. We're not looking "third world" by any stretch of the imagination.
And why should we force our export profile to every individual country to follow some specific paradigm? Should we export fewer planes to Poland and less grain to Japan, just to make it look more "balanced" by some foolish notion of an "ideal" export profile??
That must come as a shock to the folks at Procter & Gamble.
Yeah, what a shame! Domestic alternatives might start looking more attractive! We should nip that in the bud right now!!
Right-O,
Only imbeciles would want to have a strong dollar.
Meanwhile, because we haven't a strong dollar, the Saudis want to make certain that as our dollar sinks their revenues stay well up there. Hence, $100.00/bbl oil.
Not to worry about the sinking dollar as our government will just print a carload or two more.
A weak dollar is good for our economy? Hardly.
As far as weaning us off cheap Chinese goods, it will never happen in two lifetimes hence due to the fact that our manufacturing expertise is spread througout the world and we couldn't manufacture (in large quantities) shoestrings.
Economies are like chessmen. We gave away our last rank first.
Bullseye!
Globalists hate Pat!
Here are some numbers for the Dinocons to chew on. Just the rate of growth of the US Economy in an average year is about 1/4 the entire Chinese GDP. The annual US Economy is about 4 times as large as Japans and about 5 times as large as China’s. Japan’s Economy has been stuck in a European style stagnation for over a decade while China’s has probably peaked since future growth is going to require political changes the Chinese Commies are just not going to make.
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
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