Discussion in 'Economy' started by Annie, May 31, 2005.
I am happy about this for purely selfish reasons. Before the Euro came along I could go to Greece and live like a king, a freakin king! Along comes the Euro and I lose money when I go there. I hope the damn thing goes belly up.
Don't worry Bud, Europe's problems are coming home to roost. They've got some tough times coming up, and the euro falling is just the beginning. You'll be able to go to Greece and live like a king once again soon.
I would love to go back and revisit all the threads of 8 months or a year ago when people like Bully, Wade, et. al. claimed that the dollar would NEVER (NEVER I'm tell'n ya) recover! That it was only a matter of time before the dollar became worthless. I argued with them then that it not only would recover that it really wasn't all that low to begin with. I remember when the $$ only traded in the 90's with the Yen. Seems to me the dollar is holding it's own. How can that be! Bush is ruining this country, I just don't get it....
Poor Huckleburry, I guess he doesn't feel the pain of being wrong ALL the time anymore.
Since you mentioned him, where is he? The 'economy' thread has been dead for two weeks and he still has not responded to me in the other economy thread.
Was he banned?
Banned?? No one gets banned for being a dork.
I'll pm you with the rest.
During the first year of Mr. Bush's presidency, the dollar/Euro exchange rate averaged 1.13. To date the dollar/euro exchange has averaged .78. This is not an impressive record of accomplishment and the plight of the dollar can be linked to Mr. Bush's economic policies. Many will be quick to blame the events of 9/11 for this lackluster performance. However, this excuse no longer holds water. Mr. Bush and his team have had plenty of time to respond to 9/11 that the economy is still lagging is evidence that Mr. Bush and his cronies are not up to the task.
Toting a single day of market jitters (especially with the uncertaintiny surrounding the EU constitution) as a sure sign that Mr. Bush's economic policies have worked is ludicrous. True, the dollar made small gains against other major currencies...for a day. However, the underlying the problems have not changed. The United States continues to carry a dangerous amount of debt (with little sign of slowing down), our savings rate is dismally low (if not negative) and our propensity to spend is still financed by foreigners. A single day is not a recovery. The fact remains that the dollar is still being bashed about in foreign markets.
The euro today remains strong as does the pound, and the yen. A single day proves nothing, other than an apparent willingness to ignore the fundamentals.
Free had this same argument with him, quoted sources, stats, the works. The post is probably from that thread.
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