Aces High Bulletin Board
General Forums => The O' Club => Topic started by: Thrawn on January 24, 2005, 01:23:58 PM
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"Central banks shift reserves away from US
By Chris Giles
Published: January 24 2005 00:03 | Last updated: January 24 2005 00:03
Central banks are shifting reserves away from the US and towards the eurozone in a move that looks set to deepen the Bush administration's difficulties in financing its ballooning current account deficit.
In actions likely to undermine the dollar's value on currency markets, 70 per cent of central bank reserve managers said they had increased their exposure to the euro over the past two years. The majority thought eurozone money and debt markets were as attractive a destination for investment as the US.
The findings emerge from a survey of central bank reserve managers published today and conducted between September and December of last year. About 65 central banks, controlling assets worth $1,700bn, took part and the results showed a marked change in attitude over the past two years."
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"Central banks' enthusiasm for the dollar seem to be cooling off."
In a further worrying sign for the greenback, 47 per cent of reserve managers surveyed said they expected the growth of official reserves to slow to less than 20 per cent over the next four years. Between the end of 2000 and mid-2004, official reserves had increased by 66 per cent.
Slower reserve accumulation growth implies the supply of official finance is likely to become more limited but few expect the demand from the US for finance to slow. The consensus among economists is that the US current account deficit will increase to $694bn in 2005."
http://news.ft.com/cms/s/9ef63678-6d7d-11d9-9b69-00000e2511c8.html
Please do yourselves a favour and make sure you have at least some hard currency. Heck with gold predicted to go to at least $540 it will probably be a good investment as well as useful if things go for the worst.
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LOL! try to buy a loaf of bread with gold some day. Gold is not currency. It is a commodity, however, and might be a good investment.
Anyways... you may want to re-read that article before predicting the collapse of the dollar.
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some advice, get some € and your on the safe side ! ;)
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Originally posted by Gh0stFT
get some €
Is that part of a football? What good is that?
-SW
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a "weak" dollar will help US exports and hurt imports.
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Originally posted by Mini D
LOL! try to buy a loaf of bread with gold some day. Gold is not currency.
Gold is also insurence is case some day you may have to use it buy bread.
Anyways... you may want to re-read that article before predicting the collapse of the dollar.
Are you referring to this?
"Slower reserve accumulation growth implies the supply of official finance is likely to become more limited but few expect the demand from the US for finance to slow. The consensus among economists is that the US current account deficit will increase to $694bn in 2005."
It wouldn't suprise me if the trade deficit does go that high. As the central banks stop taking USD and or sell them off, then the USD loses value, and more have to be printed to make up for the lower value. As the dollar continues to lower in value then the central banks have even more of a reason to sell off, and thus a downward spiral ensues.
I'm not saying this is it, but look where it's going and buy "insurance" against the eventuality.
I'm seeing more and more articles like the following as time goes on.
Doom For The Dollar--And Everything Else
Dan Ackman, 01.10.05, 6:00 AM ET
NEW YORK - The stock market is up and economic growth has been steady, if unspectacular. But, an increasing number of economists are seeing serious storms build on the horizon. They point to ever-growing federal budget deficits, a record current-account deficit, increased consumer debt, a real estate market that looks like a bubble ready to burst, a surge in personal bankruptcies and the prospect of inflation.
Meanwhile, interest rates are on the rise, and if they increase much more, many of these problems could get dramatically worse.
Doomsayers tend to be ignored--until it's too late. This week, we give voice to five prophets of doom, starting with Peter Schiff, CEO and chief global strategist of Euro Pacific Capital.
Could the falling dollar mean we're in for a major financial disaster? He thinks so.
He has been warning about the currency's fall for a while now. Even though it lost a third of its value in the last two years against the euro, he believes it will decline even further. But, the dollar's fall is more a symptom than a cause. The real problem is that the U.S. is producing too little--and spending too much--and the result is likely to be far worse than the happy-talkers on Wall Street will ever let on.
"We are going to go through one of the most trying financial times in U.S. history, including the Great Depression," Schiff says.
Why Should We Care About The Falling Dollar?
"The basic problem," Schiff states, "is that Americans don't produce enough, and don't save enough." Indeed, over the past 15 years, the savings rate has fallen from over 6% to less than 1% in recent quarters. As a result, the goods that we are consuming are being supplied to us by foreigners. Not only are they producing the goods, but they are lending us the money to buy them, and, in doing so, are driving the U.S. deeper and deeper into debt to the rest of the world, Schiff says.
As American industry has lost productive capacity, it has become increasingly difficult for the U.S. to produce enough--and sell enough--to reduce that debt. The massive U.S. trade and current-account deficits, now at around 6% of the gross domestic product, mean that non-Americans are exchanging consumer goods today for consumer goods they will obtain in the future.
The U.S. doesn't have the ability to supply those goods, Schiff says. "We are using dollars that we print to exchange for goods that we don't produce. We have to borrow from abroad as there are no domestic sources of savings, so the value of those dollars will continue to fall."
How Bad Will It Get?
Peter Schiff, chief executive of Euro Pacific Capital
"Very bad," Schiff says. The dollar will fall a lot lower than it already has--dropping by perhaps 50% against the Japanese and Chinese currencies. How will the government respond? Could efforts to forestall the currency decline have a perverse--and ultimately negative--effect? No matter what the outcome, Americans will have to consume a lot less and save a lot more. Spending on cars, clothing and electronics will all drop dramatically--perhaps right out of the economy.
What Caused It?
"We are a society that has lived beyond its means for a long time," Schiff says, adding that while the trend has been evident for two or three decades, "in the last five years, it has gone off the deep end." Americans are relying on foreigners more and more to produce goods, rather than producing them themselves.
What Will The Results Be?
Americans will have to restrict future consumption or default on debt, whether directly or indirectly.
"I think something in the near future--maybe early this year--will make us realize the error of our ways," Schiff says. "Our creditors are going to stop. They are going to bite the bullet," which means realizing we can't repay them in the way they want and expect.
They will take a huge loss, but it will be necessary to check an unsustainable process. At that point, the people of Japan and other Asian nations will be able to consume a lot more, because they will send less of what they produce to the U.S.
"They will not be producing for us; they will be producing for themselves."
Meanwhile, to attract savings from abroad, the U.S will have to increase interest rates into the double digits. This will cause a serious wave of defaults in the real estate market and elsewhere.
"The further into the future this starts, the worse it will be for Americans," Schiff says.
When And Why Will It Bottom Out?
"I don't know. A lot will depend on the government," Schiff says. The debt to Japan, China and others has been building for a long time. The process will also take some time to reverse. But, the analysts on Wall Street don't want to say this.
"They pull their punches, because they don't want to be marginalized. But, the fact is we owe Japan a fortune; it's not the other way around." And that, Schiff says, means the dollar will be heading south for a while."
http://www.forbes.com/economy/2005/01/10/cx_da_0110doomdollar.html?partner=netscape
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Originally posted by john9001
a "weak" dollar will help US exports and hurt imports.
bingo
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Originally posted by Russian
bingo
If the lose in value of the USD is gradual so their is time to rebuild the US manufacturing base and so the loss in standard of living is over a relatively long period of time.
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But with the increasing unemployment rates in Europe do you really think that the Euro will stand the test of time also?
Look toward Japan and China for the next huge currency boom. The USD will lead the pack towards the bottom of the valley and the Euro will fall as well. With unemployment in Europe hovering a little over 10% and expected to get worse as manufacturing jobs are sent to the other areas of the world (Mexico and US) then things will get worse.
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the US has not "lost" it's manufacturing base, you watch CNN too much.
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The party denies the existence of a problem! Production is up 21%!
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Originally posted by john9001
the US has not "lost" it's manufacturing base, you watch CNN too much.
umm any links to back this lovely wish ?
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Originally posted by john9001
the US has not "lost" it's manufacturing base, you watch CNN too much.
Not in it's entirety, but a huge portion of it is has been offshored. Hence the massive and every growing trade deficit.
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Originally posted by Reschke
But with the increasing unemployment rates in Europe do you really think that the Euro will stand the test of time also?
Nah, the same thing will happen in 20-30 years to the Eurpeans. China is quite simply taking over the world. They don't have to pander to voters and special interests. They can make long range plans even if it hurts segments of their society.
Maybe "taking over the world" is too extreme. Perhaps making them selves the unquestion pre-dominant power would be more accurate.
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Sure USA will loose and its people would have to start working for real, again.
Its not a bad thing. A land with that great resources should´nt really need to import all they do.
Its a desise of the west. The workers get to expensive and the products follow. So, the company moves the manufacturing out to a "banana" republic, paying nothing for the workers.
As long as the balance is kept and the money earned are returned and invested back to the country, it is ok.
But, it seems like this is failing as well.
If you get to greedy, in the end you will loose it all.
This is not only happening in the USA, but in a lot other western countries.
But, USA is starting to suffer from the effects, ours are yet to come. But, its just a matter of time.
We can ride for a little time, now, on the back of the sinking Dollar, but for sure, we will go down with it as well.
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Originally posted by patrone
Sure USA will loose and its people would have to start working for real, again.
Americans are the second hardest working people in the world after the Australians. The problem is that the work is overvalued in a global market, and less and less are in the manufacturing sector and more and more in the service, supply and government sectors.
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Thrawn US manufacturing output has not declined. Don't confuse manufacturing employment with manufacturing capacity or output.
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Am I the only one who is shocked that Thrawn actually beat rpm to post this doom and gloom for the USA message first?
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It is not a "doom and gloom for the USA message." It is a message of fiscal concern for the future economic growth potential for the U.S. Why do you hate America so much that you want to dismiss it? Do you want America to be poorer through a weak dollar and higher debt service?
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Of course, I welcome anything that would cripple the evil USA while empowering wise, benevolant societies like Europe or China.
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Originally posted by Rolex
It is not a "doom and gloom for the USA message." It is a message of fiscal concern for the future economic growth potential for the U.S. Why do you hate America so much that you want to dismiss it? Do you want America to be poorer through a weak dollar and higher debt service?
I am concerned enough over the falling dollar (and hint of it) that about 4 yrs ago I reallocated most of my 401k and all my adjustable IRA's and equitable futures to "other" investments. Tell ya what though, it is not the current admin that is too fault. I blame the Clinton years for the problems we face now, that and democrat nonsense are destroying the American dollar.
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Both big parties are at fault for ignoring this problem. It's much easier to rile their respective bases with emotinal issues like racism, religion, abortion, the importance of gays or the old favorite of Bush being Hitler, than it is to bring up serious adult issues like the soaring current account defecits and related consequences.
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I'm a fiscal conservative and political conservative, but the gap between me and others who claim to be politically conservative comes in our differences about money. Naturally, I believe my view to be the more responsible one (don't we all...) based on the premise that 'new' conservatives have abandoned the principles of good economics.
'Tax and Spend' administrations of the past took the easy way out and I always disagreed with it, but today we have something worse - "No-tax, but still spend."
I'm quite comfortable now in the view that our previous beliefs about debt were wrong. Macro-economic resiliency (and yes, size does matter) do indeed allow mature economies to function and grow under heavier det burdens than we believed even 6-7 years ago. There is no 'historical constant' like a gravitational constant that needs to be added to formulae to make them work. The history is not the present in economics.
The tax cuts under President Reagan and Margaret Thatcher were the right thing to do at the right time. Tax cuts in the last administration were not the right thing to do - unless accompanied by spending cuts.
You know, if you take a look back to the 90's (and ignore the personalities of the players), the economy wasn't too bad overall.
I don't agree that the Clinton adminstration is to blame for the current condition. The deficits are not cyclical issues, they are technical issues. The largest budget surplus in history was on the books in 2001 and look where we were 2 years later (even pre 9/11). The biggest turnaround in the history of the world. Too bad it was negative.
Congress has abandoned all rational fiscal thought and I think it is the president's fiduciary responsibility to counter Congress. The buck didn't stop at his desk as it should have under good conservative fiscal leadership. President Bush has yet to veto or even voice any opinion about one spending bill - not one.
Very strange. Almost as if he doesn't want to get involved and has acquiesced all fiscal thought to congress - which is like giving a bankrobber the combination to the safe.
Aw well, nothing we can do about it. We just have to take it and I think we're going to start taking up the you-know-what pretty soon.
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Originally posted by FUNKED1
Thrawn US manufacturing output has not declined. Don't confuse manufacturing employment with manufacturing capacity or output.
What? Inreased productivity due to increases in technology?
One has to wonder where these numbers are coming from.
http://www.census.gov/indicator/www/ustrade.html
What's your explanation?
Grun,
"Of course, I welcome anything that would cripple the evil USA while empowering wise, benevolant societies like Europe or China."
Fallacy: Appeal to Consequences of a Belief
http://www.nizkor.org/features/fallacies/appeal-to-consequences.html
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I wish the US would fall to pieces already so we can just get it over with.
Maybe China will do a better job at being the only superpower one day and I can go onto a Chinese BB and ***** about them :D
Seriously though, I think that the US is kind of the world's golden goose......nobody really wants it to go down in flames.
In time everything will work itself out, for better or worse.
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Is this the first prediction of the colapse of the dollar thrawn... or is this just the first time you've actually paid attention to it. I mean... really... worse case is the U.S. dollar drops to near the same level as the Canadian dollar.
Rolex, there's something that I find a bit odd about your fundamental belief. It doesn't seem to take into account a major recession that began in late 1999. How does a government recover from a recession? There's really 3 basic steps to take. I saw this asked during the debates and it almost seemed as if nobody in the room had taken fundamental economics. Do you know what a government can do to recover from a major recession?
I'd rather see government spending and taxes cut. I'd like to see an end to several government programs. I'd like to see an end to overseas subsidizing of virtually everything. I'd like to see our tax dollars stay at home. But in a recession, I can see where things would be different.
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who cares? all we need is the average earth temperature to increase two more degrees and the slide into global warming will become irreversible and catostrophic. My understanding is the average world temperature increase is .2 degrees per year and speeding up.
10 years and the earth climate will slide irreversibly into a warming trend that will turn us all into boiled meat on bleached bones so this eventual slide of the great satan into deserved obscurity is all moot.
Yeeha!
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You and your gripping obsession with Armageddon again.
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the end is near but this time its true!
and canada, like the little twin head attached to the host babies body will die too along with the host baby muhahaha!
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You're a freak, you know that right?
(it aint a bad thing).
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Originally posted by Mini D
Is this the first prediction of the colapse of the dollar thrawn... or is this just the first time you've actually paid attention to it.
When else has the US defaulted on it "current" account balance, and what was it's response to it. Here's a hint, why is the world on a fiat currency system?
I mean... really... worse case is the U.S. dollar drops to near the same level as the Canadian dollar.
Why is that the worst you can think of?
Why is the Canadian dollar the value the furthest the USD can fall?
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So do you deny that this would cripple the USA while helping Europe?
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Hmmm Euro's $$$ going up...
USD going down...
Grun grow up, basic math...nevermind your doomsday report about how everyone attacks the U.S.
its easy, y'all suck...
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Originally posted by SLO
Hmmm Euro's $$$ going up...
USD going down...
Grun grow up, basic math...nevermind your doomsday report about how everyone attacks the U.S.
its easy, y'all suck...
So will the USD's fall and Euro's rise (both in value and worldwide use) cripple this country and help Europe?
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Originally posted by GRUNHERZ
So do you deny that this would cripple the USA while helping Europe?
its just a matter of time and Europe will follow, but before that, Canada will go down as well.
If the US can´t buy our goods, who is, china, russia, india?, I dont think so.
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I've been practicing trading 130 grains of lead for 100 pounds of venison. It's working great.
Fourtunately, I have a large supply of lead and my venison herd continues to increase.
You guys better have some really great stuff to trade or else I'll only let you chew on the hides.
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Originally posted by Thrawn
When else has the US defaulted on it "current" account balance, and what was it's response to it. Here's a hint, why is the world on a fiat currency system?
1) Never... though I'm sure you meant payment instead of account balance.
2) What is the flat currency system the world uses again?Why is the Canadian dollar the value the furthest the USD can fall?
Figure that one out for yourself bordermate.
This is kinda funny... an increase in the deficit is somehow translated into defaulting on loans. An eventual slow in the rate of increase from 66% down to 20% over the next few years is seen as the end of the U.S. dollar. The diversification of financances to where people are almost invelsting in the Euro with the same zeal as the U.S. dollar is seen as the end of our dollar.
Man... I love doomsday economics. It's funny to watch the same theories get rehashed... reviewed... panicked over... forgotten... rehashed.... reviewed... panicked over... and over... and over.
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Hey Mini D:
I'm not in the doomsayers court, btw. I could be convinced to salt this place a little though if I had the tinfoil hat franchise. A consumption-led market if there ever was one.
And to your rhetorical question: do you really think that I don't know how? :)
It was more of a cyclical issue though in 99 - the kind that normal diversification and redeployment of private investment is so good at remedying in the dynamic and resilient American economic gorilla. Government spending to the extent we see now certainly wasn't needed. One would have to search pretty hard to find an economist willing to say that the governments sound fiscal and monetary policies saved the nation from any economic calamity at the turn of the century.
Evidence in support is seen in the private sector going about its business fairly well despite some fuel cost and other pressures. The private sector has been doing its job. The jury is still out on this soft dollar experiment.
Maybe it'll work and maybe it won't. It's a risky bet because... well, you know all the reasons why. :)
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Originally posted by Mini D
LOL! try to buy a loaf of bread with gold some day. Gold is not currency. It is a commodity, however, and might be a good investment.
Anyways... you may want to re-read that article before predicting the collapse of the dollar.
Bread is not bought with gold. Bread is bought with junk silver ;).
Houses and other large items are bought with gold :)
Regards
Sun
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Central banks are shifting reserves away from the US and towards the eurozone in a move that looks set to deepen the Bush administration's difficulties in financing its ballooning current account deficit.....
Sounds like its time to move the 'ol 401k from domestic investments to Euro-Pacific.
"When the world gives you lemmons make lemmonade"
Sun
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When are the hordes of euro tourists going to arrive? Their women really put out
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Originally posted by Mini D
Is this the first prediction of the colapse of the dollar thrawn... or is this just the first time you've actually paid attention to it. I mean... really... worse case is the U.S. dollar drops to near the same level as the Canadian dollar.
Well problem is that there is one more currency, whitch doesnt fall. Dolar is loosing now, as it did before Iraqi War I.
However biggest diference is that people who trash it today will have no reason to convert back, coz dolar is not the only one powerfull currency on the market.
And there is one more reason, why traders abandon $$. Your political system is not stable, rate of $ change after every BS claimed by someone in administration. And nobody want to lose his money because somebody announced another BS, whitch made dolar weaker or stronger for a short time.
For example 6 years ago, whe my brother in law impoted gods from germany, he lost 2000€ while trucks were on the way, rate has change.
When it happened for 5. he simply stoped use that useless currency
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Originally posted by bunch
When are the hordes of euro tourists going to arrive? Their women really put out
we are dangerous for you.... because we are young, educated, with work experience and w/o covenants = NO wanted coz we could take your jobs.
97% whitch had sutch condition didnt get evet tourist Visa last year.
But yeah... you can simply bribe clerk at immigration office and no problems at all.
edit: you can expect just german retiree :D
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A "weak" $ is good news for me, my monthly AH cost is now 91,2 NOK a month instead of 118,1NOK (as for 1 year ago). (simplified argument)
I remember when I started in AH in the beginning of 2000, we had a $ that was almoust 8.92 vs the NOK and now it is 6.12 vs the NOK.
I paid 30 $ a month then and that costed me 267kr a month now it woulda costed me 183kr a month that is a huge diffrence.
that woulda saved me 1083kr a year = 169$ a year (aprox.)
Good news for end users in Europe, bad news for exporting industry in Europe.
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Originally posted by GRUNHERZ
So will the USD's fall and Euro's rise (both in value and worldwide use) cripple this country and help Europe?
Easy : It will cripple Europe and Help USA. Europe will stand helpless and see their Industry fall over, and USA will se a growing exporting to Europe.
Then again this is easy and simplified word, who knows whats gonna happen, I am a loving Engineer not a Economist.
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Originally posted by Rolex
Hey Mini D:
I'm not in the doomsayers court, btw. I could be convinced to salt this place a little though if I had the tinfoil hat franchise. A consumption-led market if there ever was one.
I never said you were. That was for thrawn.
And to your rhetorical question: do you really think that I don't know how? :)
It wasn't a rhetorical question. You still haven't answered it.It was more of a cyclical issue though in 99 - the kind that normal diversification and redeployment of private investment is so good at remedying in the dynamic and resilient American economic gorilla. Government spending to the extent we see now certainly wasn't needed. One would have to search pretty hard to find an economist willing to say that the governments sound fiscal and monetary policies saved the nation from any economic calamity at the turn of the century.
Badger?
Alot of pretty words that say nothing. Once again: what are the main 3 things a government can do to pull a country out of a recession (which is what we were in... no matter what the cause). You can argue it would have recovered all on it's own all you want, but you can't dismiss the fact that when answering the not-a-rhetorical question I posed above the government's actions were appropriate responses given any nation's economic history of recovery from a recession.
Evidence in support is seen in the private sector going about its business fairly well despite some fuel cost and other pressures. The private sector has been doing its job. The jury is still out on this soft dollar experiment.
You wouldn't have guessed it in 2000-2001 when unemployment skyrocketed. A more cautious aproach to building a buisness with low interest rates and favorable tax situations is bringing back jobs. Some of that is because of lessons learned from the recession, some of it is because of actions taken after the recession. You simply cannot dismiss one and highlight the other.
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Originally posted by airguard
who knows whats gonna happen, I am a loving Engineer not a Economist.
Ekk i trough you are en engeneer of economic :D
ummm .. ahh okk... how are you doing overthere dude ?
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I agree... we need to cut government spending and taxes. We need to dump about half the government programs.
lazs
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1. Monetary policy - reduce rates.
2. Budgetary policy
A) Temporary tax cuts to increase corporate investment
B) Increase expenditures in the form of public investment
Those are the two things. Currency devaluation isn't on my list, if that's what you were hoping to hear.
In the end, looking forward from now does not look better than looking forward 5 years ago looked.
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Originally posted by Thrawn
Americans are the second hardest working people in the world after the Australians. The problem is that the work is overvalued in a global market, and less and less are in the manufacturing sector and more and more in the service, supply and government sectors.
Ya get what ya pay for.....sure, it's cheaper to pay someone in India to handle tech support for company A, however, you cannot understand a thing they say so they roll the call back to the USA. This is why many of the outsourced jobs are starting to return to US soil.
If your going to do it right.....
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Originally posted by Thrawn
The problem is that the work is overvalued in a global market, and less and less are in the manufacturing sector and more and more in the service, supply and government sectors.
So the heck with Kyoto, in a few years we wont have any smoke stack factories to mess up the ozone.
Hey btw I have had a change of heart. I think we should sign the Kyoto agreement and do what most of the rest of the world is doing, ignore it.
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is this relevant?
Budget Office Sees 2005 Deficit at $368 Billion
Tue Jan 25, 2005 09:23 AM ET
WASHINGTON (Reuters) - The U.S. budget deficit will reach $368 billion this year, the Congressional Budget Office said in new forecasts on Tuesday, a source familiar with the numbers said.
The number is worse than the CBO's previous $348 billion forecast for the 2005 fiscal year that began on Oct. 1. Due to a technical quirk, the latest number does not include billions of dollars in expected war costs and analysts said these must be added in to get a true picture of the red ink.
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recent request is 80 billion...
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how does this all play in?
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Presented for your reading and commenting pleasure:
The Budget Outlook (http://www.cbo.gov/showdoc.cfm?index=4985&sequence=2)
The Congressional Budget Office (CBO) projects that under current policies, the federal deficit will total $477 billion in fiscal year 2004 and then decline to $362 billion in 2005 (see Table 1-1).
Although that 2004 deficit would be a record in nominal dollars, it would represent a smaller share of the economy--4.2 percent of gross domestic product (GDP)--than the deficits recorded in the mid-1980s and early 1990s (see Figure 1-1).
For the 10 years from 2005 through 2014, CBO projects that current policies would produce a cumulative deficit of $1.9 trillion, or 1.3 percent of total GDP over that period.
Now don't get me wrong. I realize it's worse than that estimate, the end is near, we are in the final days, the US is going down the tubes, it's all over, we are lost, disaster has befallen us, we'll all starve, etc., etc., etc..
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So act fast and you can have enough money to move to the country rated as the best place to live on earth: Ireland.
I'll give you 30 cents on the dollar for your houses today.
Don't delay; act now before all is lost.
Call 1-800-USA-ENDS, thats 1-800-USA-ENDS
Operators are standing by (somewhere in India)
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I'll give 50 cents on the dollar! Call now!
1-800-DIS-ASTR
We have genuine Mid-West US operators standing by... you'll be able to understand everything they say!
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<----- dailing phone.
beep
beep bop bop
bip bip boop
beep beep bop bip.
................... ring.
--------------- ring.
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Somehow I don't believe you Toad.
I called a tech line for some software that a company uses, and I needed to get some information changed. The guy I talked to introduced himself as Mike and he had an American accent.
When I got his e-mail address, it was MustaffaYous@companyname.com.
Those people in India are crafty and sheisty.
And, you are offering 50cents on the dollar, compared to Rolex's 30 cents. The only way you can undercut his pricing schematic is by outsourcing.
I will not be doing business with you. I say good day sir.
-SW
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its sad because when i call service and repair for my dell i get "midwestern accented" indian folks.
ill say. what was your name again.
they'll say something like "bob"
where are you?
"calcutta"
oh.
makes me feel sort of yukky.
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Originally posted by lada
97% whitch had sutch condition didnt get evet tourist Visa last year.
But yeah... you can simply bribe clerk at immigration office and no problems at all.
edit: you can expect just german retiree :D
What happened, you get denied? Is that the reason you don't like the US.
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Originally posted by Rolex
1. Monetary policy - reduce rates.
2. Budgetary policy
A) Temporary tax cuts to increase corporate investment
B) Increase expenditures in the form of public investment
Those are the two things. Currency devaluation isn't on my list, if that's what you were hoping to hear.
In the end, looking forward from now does not look better than looking forward 5 years ago looked.
You got two of the 3. To be honest... the third one pretty much wraps up the other two. Go to war. I'm quite suprised more people haven't glommed on to that simple correlation and played it for all it's worth.
But, if we look at A) and B) in the list you provided.... both of those would have the effect of devaluing the dollar. Any time you pump money into the economy, you move the value of the dollar down. It's an unfortunate side effect of two seemingly necessary actions.
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Originally posted by lada
....you can expect just german retiree :D
Send us your college women. They need to save money more than anyone. We have better drugs than Ibeza. I'll shave & put on a necktie, I promise.
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Originally posted by lada
Ekk i trough you are en engeneer of economic :D
ummm .. ahh okk... how are you doing overthere dude ?
I am fine thanks :) not yet been run over by beautiful womans only 1 of them.
cya mate