1. Saudi Arabia
2. China
3. Russia
4. South Korea
5...the list goes on and onWhat will it say about Obama %26amp; our nation when countries start abandoning the dollar as a unreliable currency?these people on here do not understand what you are saying...they are in denial and think this is BUSH's FAULT and are not listening. THEY NEVER LISTEN!
They tried this a last month and a few nations helped us out. If it does happen...93 percent of what you own is gone! But libs don't understand that and think it won't happen. It ALMOST DID!
Who conducted a sneak attack on the U.S. dollar in OCT?
http://www.politico.com/news/stories/100鈥?/a>
Even countries around the world are warning us and bozo just does not listen. He came home from his photo op tour with his nose a little browner and his hands empty AGAIN!
What will it say about Obama %26amp; our nation when countries start abandoning the dollar as a unreliable currency?
Trust me, it is because of Usury and not enough regulation.
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What will it say about Obama %26amp; our nation when countries start abandoning the dollar as a unreliable currency?
Guy have you been asleep since 2004?
They already started to. What do you think causes the value of the dollar to fall?
Why do you think there was a stimulus bill in the first place?
India just went to gold and abandoned the dollar.
well, if the dollar value falls, we will regain those low income jobs the liberals continue to wine about. It will be cheaper to produce here, then we'll end up like China. Lots of low income jobs, business, but a LOW standard of living... I could elaborate some more, but its really late... Message me if you want me to elaborate...
PS: Idiots, stimuli don't fix inflation and dollar weakness, because it - the inflation - is caused by spending (which forces a LARGE growth in the money supply), which a stimuli is...
And why hasn't the democraps proposed a balanced budget yet? 3 years and counting.
None of this is created by Obama policies, only perpetuated. But then again, how do you stop a crumbling country from just that, crumbling
They will blame Bush.
I don't know of any historians or economists stupid enough to blame one president for the downfall of an entire currency.
In fact, the only people I know of who are that stupid are TV and radio pundits and their blind audiences. Occasionally, these pundits pay an %26quot;expert%26quot; to come on their shows and agree with them.
The question is: are you willing to do the in-depth research to understand political economy and macroeconomics?
It won't say all that much per se about Obama, these problems and issue have been brewing a long time before he arrived. Ever since the dot.com bubble burst and Alan Greenspan kept interest rates too low for too long, encouraging companies and households to borrow like there was no tomorrow and driving an extended period of unsustainable growth (which numerous people warned about all along). The inevitable result is what you're seeing now, the fact that US policymakers didn't curb the problem back in 02-03 when some warned about future consequences and before the problem had escalated is the issue. The interesting thing is if they will learn this time round. Interest rates are practically zero and with the amount of fiscal stimulus that's being going on we could well be witness the same thing or worse in another 5-10 years.
The other interesting issue is your currency. I know some of you will maybe think that a strong currency is representative of a strong country and with a bit of chest pounding going on, that must mean it's a good thing. Wrong. The other fact is the USA in order to correct both unfavourable domestic and international debt dynamics will need a substantially weaker currency for a prolonged period of time. It's seriously not a bad thing. As long as the US dollar is strong it encourages your money to flow into the laps of countries like China. And that there is the key problem as I'm sure you know, China is unwilling to allow its currency to appreciate against the US dollar, which over time would allow some of its US$2.4tn in forex reserves to flow back to the USA and help to pay off Americas burgeoning debt stock.
If you want proof that a strong currency is not necessarily a good thing, you need only look towards your cousins the Brits who have been masters at strong currency policy goofs. After the second world war when countries were adopting the Bretton Woods fixed exchange rate system the UK due to its strong currency mentality ended up fixing its exchange rate at too high a level and over time ended up making its manufacturing sector uncompetitive thus killing it eventually.
Another useful lesson was Black Wednesday, also in the UK, when against the advice of the then Chancellor of the Exchequer, Norman Lamont, the former PM John Major made comments about the Pound being the linchpin currency in Europe when it was already under pressure, and naturally the market sold the hell out of the currency to force the required correction (famously when George Soros made a billion dollars in one day). The moral of the story being if your currency needs to correct in order to bring balance back to an economy and policymakers don't bring it about themselves, then the market will do it for you. This is likely what we'll see with the US dollar over time, albeit held up and delayed by a lack of action by our friends the Chinese.
Hate to break it to you, the dollar was at its weakest under Bush and the GOP's rule. This is their mess. The stimulus was als put through before the election... by Bush.
