What exports?
We’ve squandered our entire industrial base.
What have we got to export anymore?
Grain? Cattle. Leftist Hollyweird movies and CD’s.
Wrong. The dollar is way to week and it is hurting middle class families.
No, you are. The only reason our chronic and enormous deficits have not already impoverished America is that the dollar has been the reserve currency for the rest of the world. That is slowly changing, as the dollar falls in value. And when it does change, we will have no one to balme but ourselves and our profligacy and improvidence.
Holy crap. You can’t be serious.
If a weak currency is good for a nation, perhaps we should emulate Indonesia... and make our dollar trade at 13,000 ‘dollars’ per euro.
Then our currency would REALLY be good.
A weak dollar is good for exporters, and bad for importers. So it's a mixed bag. It also allows foreigners more purchasing power over your assets, etc. In fact in some ways a weak, and weaker, dollar can be quite harmful to the economy.
Awesome! I can't wait until it's worth 2 cents to the Canadian dollar! I am so jealous of Zimbabwe!
Seriously, you Buchanan-haters should just avoid his threads rather than feel obligated to post nonsense to contradict him.
Spoken like a true open borders zealot.
We have seen an up-tick in the last six months on our overseas sales, weaker sales in the U.S. have been offset by the increased sales in Europe. We now have a price advantage over our competitors in Europe.
We are in the Picture Framing and Visual Communication equipment industry.
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.
The dollar is collapsing because every foreign investor with an IQ over 70 knows damn well that the U.S. is embarking on a well-planned effort to engage in a program of massive inflation to pay off our silly, delusional ideas about maintaining a standard of living that we simply cannot afford.
I said this two years ago, and it's looking more real by the day . . . It's 1973 all over again, folks.
It might except that we've already decimated our steel and textile and electronics and furniture industries, to name a few, in favor of foreign imports bought with strong dollars. So rather than wean us off cheap imported goods we're now going to have to satisfy our addiction with more expensive foreign goods.
This is all a plot to get the value of the dollar closer to the peso, so it will be simpler when we combine currencies.
;)
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.
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.
Buchanan is such an idiot. The reason European currency is so is because its also overvalued.
So by that logic, when the dollar is worth nothing, we'll live in Utopia and have all we need? I can't wait!
Your the same disgusting jackass that wished for death and destruction of Americans that were fleeing for their lives, with thousands losing everything they've worked for in the recent California fires.
I remember your sadistic, twisted comments of "burn baby burn" while hundreds of fire fighters and others risked their lives, with some dying in the flames.
Ya think me or others have forgotten what you stated?
Yet you still show your face here?
You not only have no class...Like I told you two weeks ago sicko...You're a dirty rotten POS who should be under 24 hour surveillance for the good of all.
That notion would be correct if we were an export led economy. But given that we are consumption based, the positive impact of exports cannot outweigh the negative impact of weakening domestic demand (USD not being the cause there but the horrible housing situation that can be linked back to the 1994 Fair Housing Act) given the latter’s weight in GDP.
The Fed acted way too late and cutting rates won’t help the housing market, which has been 1999-2000’s version of the stock market in terms of a source of discretionary spending.
Until that corrects, and I don’t think it will until 2009, we’re in for a rough ride.