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#11
09-20-2007, 05:47 PM
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Re: Some scary stuff about the dollar
The sky is definitely falling. Only a matter of time really.
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#12
09-20-2007, 05:53 PM
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Re: Some scary stuff about the dollar
[ QUOTE ]
People have ben talking about this in finance for the last 6 months. Dont think a collapse will happen, but the dollar is certisnly likely to go lower still. If you are american, it doesnt really matter much as long as most of your costs are in USD. The real issue is for people like me who make all their income in american dollars and all our expenses are in canadian dollars. [/ QUOTE ] When the dollar is very weak internationally, the best place to unload weak dollars is inside the US. This will cause a lot of foreign held USD to come back within the borders, which is going to cause massive inflation when the [censored] hits the fan. I refer you to the 1970s.
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#14
09-20-2007, 06:23 PM
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Re: Some scary stuff about the dollar
[ QUOTE ]
If you are american, it doesnt really matter much as long as most of your costs are in USD. [/ QUOTE ] Given the staggering amount of goods this country imports, I am pretty sure your average consumer is going to get pinched. Coincidentally, I think this is exactly what the Fed wants.
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#15
09-20-2007, 06:27 PM
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Re: Some scary stuff about the dollar
Didnt say there wouldnt be inflation in the states due to relatively more imports (no more cheap imports stemming inflation) but this should help the US economy avoid a recession when people start buying more Us products.
On a side note, I made a book order from amazon.com yesterday for 96$ USD/Can (doesnt matter anymore) after a 11$ shipping cost, while I bought the exact same books from chapters.ca for 115 with free shipping (I canceled the order).
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#16
09-20-2007, 06:30 PM
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Re: Some scary stuff about the dollar
As a Canadian with some American student loans...
WOO HOO!!!
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#17
09-20-2007, 06:31 PM
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Re: Some scary stuff about the dollar
and since we are talking about currency conversion.. Ven-star
has anyone ever used these guys? they claim to do large currency transactions (avg. is 150k) for private individuals at much better rates than banks.
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#18
09-20-2007, 06:59 PM
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Re: Some scary stuff about the dollar
[ QUOTE ]
So what if you think it's going to happen? What's the best investment - foreign stocks, bonds, US stocks, money market? (Basically I'm listing off the options in my 401k, sadly gold and a plasma TV are not options.) [/ QUOTE ] US purchasing power decreases- Chinese purchasing power should increase once they stop pegging their currency to the US dollar, companies which have trading rights in China are a good bet in my view.
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#19
09-20-2007, 06:59 PM
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Re: Some scary stuff about the dollar
so i have a question...
if i am in a massive amount of debt (at a fixed interest rate), and the dollar suddenly gets totally devalued, this is a relatively good thing for me, right? i mean people who have a net worth >0 get fux0r3d, but my real debt actually shrinks!
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#20
09-20-2007, 07:01 PM
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Re: Some scary stuff about the dollar
[ QUOTE ]
so i have a question... if i am in a massive amount of debt (at a fixed interest rate), and the dollar suddenly gets totally devalued, this is a relatively good thing for me, right? i mean people who have a net worth >0 get fux0r3d, but my real debt actually shrinks! [/ QUOTE ] That's not really a question, but yes, your debt shrinks.
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