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 ...
She has Che bedsheets. Ewww!
That's an excellent point right there.
So? What does that prove about the strength of the semiconductor business in the US? Two new plants built in the US does not mean didlly squat. We are actually losing markey share to other countries and China leads us in production.
China became the world's biggest chip market in 2005, after passing the Americas region. Sales of chips to the country will rise to US$111 billion in 2011, from US$39 billion in 2005, according to Scottsdale, Arizona-based IC Insights Inc. Intel ``will be bringing in fairly advanced technology to China, more than any manufacturer there has,'' said Len Jelinek, an analyst for El Segundo, California-based iSuppli. ``Once you put one manufacturer there with those capabilities, others will look at it, especially being that it's Intel.'
'Samsung’s quest for a new plant location tested Austin’s ability to compete with other high-tech cities and even other countries, as most new semiconductor plants are now being built in Asia. In April, Samsung made its final decision and chose Austin. Its new $3.5 billion plant will employ about 700 people directly and another 200 indirectly from supplier companies
When the dollar gets low enough and/or the yuan gets high enough. This is exactly what caused Japan to start manufacturing in the US after its own period of "taking all the jobs".
Sounds like Pat is reworking mercantilism.
What’s wrong with American goods becoming more cost competitive in international markets?
Maybe I missed it but I don't see where Boeing is going to move their final assembly to China. Could you cut and paste the part that says so?
And similar reserves of even cleaner Western uranium. But given our politics, all we can do with it is sell it to the French.
How much? Give me a dollar amount. Or did you make it up?
Assembled here baby.
What makes you think they would move all that infrastructure elsewhere?
Cheaper labor as in way cheaper labor.
BTW: Opening any new manufacturing plants in China lately? Yeah you don't have a biased opinion LOL
Patriotism used to be the reason we were supposed to buy the crap that Detroit was peddling.
The world today is full of examples of protected markets crumbling.
Look at the music industry. Look at the news media. Look at Detroit. The list is endless.
And it's all the same story. You can't get away with that anymore, and the sooner you (and the other protectionists) realize it, the better.
Before I get ahead myself, are you in favor of higher tariffs on semiconductors, or a stronger dollar, or both?
You keep leaving off our exports of jobs, factories, dollars and Treasuries. Should have added companies too.
Go google yourself.
There would have been a giant sucking sound towards the southern border but China entered the picture instead. Even cheaper labor than mehico.
I didn’t think you had anything intelligent to add. I was right.
But there wasn't. Thanks for a little truth. It's a nice change from you.
So by the EU tables we are negative to them by 40 billion EURO a year.
So China is a couple of hundred billion a year Negative on the trade side to th US
Include other countries and that adds up to 500 Billion.
I know many consider China a threat, but why do we run deficits with France, Germany and the UK and others consistently year after year for the last 20 years? China is less than 1/2 the problem it’s overall trade policy in general that is the problem
So the dollar goes to .25% of it’s former value. I want somebody show me a chart, any chart That projects how much more we are going to export under this scenario and compensate me in extra dollars so I am not really paying high food and gas prices and how I am getting richer.
Show me a Chart showing how all those trade dollars are coming back to the US in the form of investment and asset purchases...It’s not happening. If a couple hundred billion of those trade dollars were being pumped back into our economy every year the Dow averages would be at 50,000.
In fact probably what was invested is is being pulled due to the drop in the dollar value for asset protection.
I have said it before, we are like the Indians that sold Manhattan for a few blankets and glass beads, The settlers got the better deal.
The Chinese get in this deal not just the money but a bricks and mortar factory, a tangible asset that is an growing income stream year after year. I get a depreciating asset LCD TV which will be disposed of in a couple of years.
What a deal
http://www.census.gov/foreign-trade/balance/index.html#C
I want true free trade not one sided trade like we have now. Like Reagan said “Free trade not trade patsey’s”
The trade dollars don't get invested in the US? Where do they go?
There would have been if China didn't enter the picture.
Of course, we'd also have to adopt a standard of living comparable to what we had in the 1930s. You think you'll get many takers on that one?
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