Sinking Currency, Sinking Country

[Dr. A ♥ O 203]

Actually the problem is each dead generation of American politicians, citizens, businessmen, etc., sells out the future generations, multiplies the problems, then dies off and leaves their kids and grandkids to either make the problem worse or be forced to deal with it. Not a single generation has dealt with the problem yet.

If we froze all our current government and business actions and started to do the 'right,' thing it would take a few generations of suffering before we got back to even. This isn't even possible because our foreign aid is also geared towards propping up the world. Pakistan is a good recent example.

Far easier to run up debt, live the 'good,' life, then die off. Problem is the US government debt is so massive and if the US falls we take almost everyone down with us.

The Asian example is totally true with their mindset, ability to suffer now and always looking towards the future.

I'd say stocking up on guns, ammo, food/water, medicine, fuel, cigarettes and liquor would be a good idea.

The US can't even take care of Katrina victims or re-build the WTC construction site. Let's open our eyes a bit and realize just how bad things can really become.

and porn

[russ 1]

Yet If the USA tries to enforce its own laws to ensure our future security, prosparity & freedoms we are labeled as racists.

We should just sit and let The worlds poor enter illegally drain our social services and ruin our economy.

How exactly are they 'ruining' the economy? Are they creating the trade imbalance? Did they speculatively bid up the price of real estate? Did they create a war that will cost trillions of dollars to finance? Did they create entitlement programs that demographically are not sustainable (without immigration anyway)? These are the major problems facing the US economy.

The US economy is roughly the same size as the EU by GDP, I think that we are doing okay.

[Jasman0717 9]

When I first went to the Philippines the ratio was 58.5 pesos to the dollar. It is now 43.6 pesos to the dollar.

I know the feeling. When Rhosie and I first met; the PHP was at about 53/1USD. I just always looked at it as 2 cents for one peso. Not it's dipping closer to 40 every day. The lowest we've gotten back when I send her money is 42. It hurts when my money can't get her everything that it's intended for. I starve myself for her and still can't "lavish" upon her as I want. Seriously hoping for a turn around in the next 6 years.

I know a lot of expats that have really been hit hard with this drop. I hope it recovers soon, maybe after the elections.

[David-Rhosie 0]

When I first went to the Philippines the ratio was 58.5 pesos to the dollar. It is now 43.6 pesos to the dollar.

I know the feeling. When Rhosie and I first met; the PHP was at about 53/1USD. I just always looked at it as 2 cents for one peso. Not it's dipping closer to 40 every day. The lowest we've gotten back when I send her money is 42. It hurts when my money can't get her everything that it's intended for. I starve myself for her and still can't "lavish" upon her as I want. Seriously hoping for a turn around in the next 6 years.

I know a lot of expats that have really been hit hard with this drop. I hope it recovers soon, maybe after the elections.

Maybe. I'm just hoping that it recovers very well in about 6 years or so(when we move there) so that our US dollars go further. Once we're there, then it can go back in favor of the peso then. just as long as we can get as much as possible first

[Sheriff Uling 3]

Peejay...

Thanks for posting this because ironically enough I was just having this conversation with my wife the other day...

Cheers!!!

Sheriff Uling

p.s. - I am really concerned because this is a serious problem that nobody is talking about...

[Jasman0717 9]

When I first went to the Philippines the ratio was 58.5 pesos to the dollar. It is now 43.6 pesos to the dollar.

I know the feeling. When Rhosie and I first met; the PHP was at about 53/1USD. I just always looked at it as 2 cents for one peso. Not it's dipping closer to 40 every day. The lowest we've gotten back when I send her money is 42. It hurts when my money can't get her everything that it's intended for. I starve myself for her and still can't "lavish" upon her as I want. Seriously hoping for a turn around in the next 6 years.

I know a lot of expats that have really been hit hard with this drop. I hope it recovers soon, maybe after the elections.

Maybe. I'm just hoping that it recovers very well in about 6 years or so(when we move there) so that our US dollars go further. Once we're there, then it can go back in favor of the peso then. just as long as we can get as much as possible first

We are looking at between 4 and 6 years so hopefully it will recover.

[trailmix 77]

Loonie breaks through US$1.10 on Chinese comments

Dollar passes $1.10 US in overnight trading; banks now predicting $1.12 US

CanWest News Service

Published: Wednesday, November 07, 2007

OTTAWA -- The Canadian dollar soared past US$1.10 in overnight trading after comments from Chinese officials that they plan to move some of the country's vast foreign exchange holdings out of the U.S. dollar.

"We will favour stronger currencies over weaker ones, and will readjust accordingly," said Cheng Siwei, vice chairman of the National People's Congress in a speech before a conference in Beijing, Bloomberg reported. The dollar is "losing its status as the world currency," Xu Jian, a central bank vice director, said at the same meeting.

Article

[Heracles 417]

Loonie breaks through US$1.10 on Chinese comments

Dollar passes $1.10 US in overnight trading; banks now predicting $1.12 US

CanWest News Service

Published: Wednesday, November 07, 2007

OTTAWA -- The Canadian dollar soared past US$1.10 in overnight trading after comments from Chinese officials that they plan to move some of the country's vast foreign exchange holdings out of the U.S. dollar.

"We will favour stronger currencies over weaker ones, and will readjust accordingly," said Cheng Siwei, vice chairman of the National People's Congress in a speech before a conference in Beijing, Bloomberg reported. The dollar is "losing its status as the world currency," Xu Jian, a central bank vice director, said at the same meeting.

Article

This makes the difference in wages between Canadians to Americans huge. I know the average Australian worker is now technically being paid much more than the average American. Heck even some single and unemployed now gets $800 USD monthly, in AUS, on welfare. Which is close to someone in the US, on minimum wage, working 40 hours a week for a month..

Edited November 7, 2007 by Boo-Yah!

[russ 1]

I know a lot of expats that have really been hit hard with this drop. I hope it recovers soon, maybe after the elections.

First rule of being an expat is to take at least half your pay in local currency. People who don't have this option (embassy workers) are really screwed - they get paid, not even very well, in dollars. Gets hard to pay for groceries.

If the big banks in the US keep losing money and interest rates keep dropping, it could get worse.

[Jaseball 0]

I've been saying for a long, long time that China, the Middle East, Europe, and other areas with vast investments in the US can stomp our country economically with how things are going, which is also acceptable, unlike military force.

Our nation unfortunately has the immediate gratification mentality, the spend now-worry later, I'll step on 1000 people to improve myself slightly, let the future generation worry about our mess, way of thinking.

Of course if I were making armor plating, ammo, cruise/MOD and other missiles, or involved in other military war machine work times like this would be great.