Dollar tumbles as huge credit crunch looms

The Telegraph ^ | 7/25/2007 | Ambrose Evans-Pritchard

[Judith Anne]

PS, I KNOW.

[bruinbirdman]

"and normally the market performs very well during such times (remember 1983?)."

Normally, the market performs well over the long run.

yitbos

[Southack]

Foreigners have to buy U.S. debt to keep the Dollar propped up.

As the Dollar falls in spite of their efforts, Americans can then only afford fewer imports.

That’s what the Dollar falls against, after all...foreign currencies.

Your U.S. salary next week will still be the same whether the Dollar goes up or down 50%...but countries that export goods to the U.S. see wild swings in prices based on the Dollar’s value.

This puts a considerable dilemma on the heads of foreigners because while they *want* to flee the U.S. market, they are selling Dollars at an all-time low to buy their own currencies back right now.

They bought high.

They are selling low.

Cry me a river.

[SierraWasp]

I remember the stretch between America's Bi-Centennial and 1983 with the Carter induced "misery index" that took Reagan and American business till 1983 to get back on track.

I was reminded of it twenty years later when the markets finally found their feet after 9-11...

This real estate slump feels a lot like 1993, except most everybody hadn't just re-fi'ed a bunch of equity out of their homes with Countrywide back then...

[SierraWasp]

Are you sure you name ain’t Edith Anne? You silly person! You don’t know and if you don’t quit tormentin me I’ma gonna go tell yer mom on you!!!

[bruinbirdman]

"I'm assuming you noticed that Evans-Pritchard is the hyphenated hyper-dude that wrote this very artickle, right? "

As in Ambrose Tutti-Fruitti?

yitbos

[eyedigress]

Let me try again, all my stuff is in the ground.

[SierraWasp]

Hay wayte a minut! Don’t let that big dog uv yers git any closer to that there little dog, lest that big bugger inhale that little mutt! I had no Idea they let dogs that big enter the state of misery!!! Ha Ha Ha!!!

[Judith Anne]

Feel free to tattle, and yes, I do too know. ;-D

[SierraWasp]

Wull... Sumthin like that, maybe, sorta, kinda... whataya think? And you still forgot ta tell me what “yitbos” signifies, dang it!!!

[Judith Anne]

News for you: The little dog is the boss. The big dog just has bigger teeth, more brains, and is better behaved. The little one got her mojo on him when he was just a baby. Mastiffs are sweet, gentle giants. That minpin chased a neighbor’s steer out of my pond and back in the pasture.

[bruinbirdman]

"They bought high. They are selling low. Cry me a river."

Very perceptive.

Ambrose Tutti-Fruiti is a low seller journalist.

yitbos

[gcruse]

“Imported goods will be more expensive, and that includes energy.’

And since I retired, I don’t drive my car five days a week to and from work. Typically, I go out once or twice a week now. Higher gas prices don’t necessarily impact retirees all that much.

[durasell]

Higher gas prices don’t necessarily impact retirees all that much.

---

All that stuff in the grocery store doesn’t get there by magic.

[bruinbirdman]

"most everybody hadn't just re-fi'ed a bunch of equity out of their homes with Countrywide back then... "

Something I'd expect from a trader in speculatives.

yitbos

[SierraWasp]

Ok, well I give up! You’d probably try to tell me that’s some verbal greeting as part of a secret handshake of NSA guys/gals for special evesdropping corps of the Bush/Cheney administration, or somethin like that.

[bruinbirdman]

"Imported goods will be more expensive, and that includes energy."

Invest in energy; it's like toilet paper, everybody needs it and its on a roll.

yitbos

[bruinbirdman]

"Higher gas prices don’t necessarily impact retirees all that much."

Energy Prices !!! That's oil and its derivatives, natural gas and its derivatives, coal, liquid natural gas, electricity and the companies that own, extract, process, transport, sell, distribute and use it.

yitbos

[durasell]

I didn’t write that. I was responding to gcruse.

[1066AD]

Here's a few suggestions via Google, I suspect the first is the one used on FR:

You're in the brotherhood of soldiers

"Yell if the beer is on sale!"

Youre in the Butt of Sheep

Your Initiation Takes Balls Of Steel

Your In The Basement...Oh Shit