American Cowboy

[Bullypulpit]

<center><h2><font color=red>American Cowboy</font></h2></center>

America's # 1 cowboy action-hero, George W. Bush, seems to be under the impression that America can pretty much do as it pleases. He seems to think that America can "..go it alone, if necessary..." with military adventurism wherever and whenever it wishes. He's fogettting one important fact though...America is a debtor nation.

Suppose, just for the sake of argument, that our foreign creditors failed to show up at US bond auctions to buy that debt? The possibility of this happening grows with each day the dollar continues to slide.

<blockquote>The fall in the dollar’s external value per se may not cause additional financing difficulties, but if this fall is symptomatic of a generalised withdrawal of foreign credit, then the whole underlying credit structure could fall apart, as it has done many times before in other financial crises. Given the size of the US, the global fall-out will obviously be substantially greater. - <a href=http://www.prudentbear.com/internationalperspective.asp>Marshall Auerback</a></blockquote>

Remeber the peso crisis in Mexico? Remember the economic collapse of Southeast Asia in the 90's? As speculators dump US treasury notes on favor of euro based notes, the dollars decline will accelerate leading to a decline in the US economy similar to that which occured in those emerging markets. Only, because of the size of the US markets, the global effects will be much worse...not to mention the effects here at home. This also provides an economic lever to influence US foreign policy, in case you haven't figured that out by now.

So, America's #1 cowboy action-hero needs to wake up and smell the coffee, before he smells the ashes of his pyhrric victory on November 2nd.

 

[Comrade]

Bully, is it your mission in life to fixate upon Bush?

 

[Bullypulpit]

Can't address the issues raised, so you attack the messenger. How pathetically typical.

 

[Comrade]

Can't address the issues raised, so you attack the messenger. How pathetically typical.

Remeber the peso crisis in Mexico? Remember the economic collapse of Southeast Asia in the 90's? As speculators dump US treasury notes on favor of euro based notes, the dollars decline will accelerate leading to a decline in the US economy similar to that which occured in those emerging markets.

Patently false.

The fall of the US Dollar leads to the rise of US exports as they become more competitive in price with other nations local and imported products, thereby leading to a larger impact on Gross Domestic Product and overall increase in our national wealth.

Any comments on that, Bully?

 

[theim]

1) I don't know about everyone else here, but to me "cowboy" is not really a horrible insult. The Euros need to try better

2) I think that Bully is secretly sexually attracted to GW.

 

[freeandfun1]

Remember the economic collapse of Southeast Asia in the 90's?

I sure do remember it..... it was caused by Clinton's buddy Soros shorting the Thai Baht.

Funny how you libs long for the days of Clinton, yet bitch about the value of the dollar today. During the HEIGHT of the 90's boom, the USD was MUCH weaker than it is now. That is what drove the boom - EXPORTS. When the dollar gained strength because of Clinton's tax increases, OUR EXPORTS plummeted while European exports soared due to their weak EURO. Now that the EURO is gaining strength, my export sales are growing as once again, the US of A is competitive in the international market.

So which is it Bully? Is a weak dollar good or bad? I guess it only depends on if Clinton is in office. Then you will decided based on whichever way the winds blow.

 

[fuzzykitten99]

Bullyfullashit---Why don't you just move to Europe to live within the other commie colonies? Can't take the agony of defeat? Get the F out.

Bitch, bitch, bitch...all you do is bitch. Bully, you're a bitch.

 

[insein]

The euro is killing local economies in Europe. On a recent recreational trip to Italy, in casual conversations, the locals all complained that the Euro was killing them. They longed for the days of the lira. Simple items such as jeans or a calendar can go for E50 to E200. Which equals about $75 to $300. $300 for a pair of levis? Is that a healthy economy?

 

[fuzzykitten99]

The euro is killing local economies in Europe. On a recent recreational trip to Italy, in casual conversations, the locals all complained that the Euro was killing them. They longed for the days of the lira. Simple items such as jeans or a calendar can go for E50 to E200. Which equals about $75 to $300. $300 for a pair of levis? Is that a healthy economy?

i read somewhere that when europeans travel over here, they actually travel with a few things, and BUY the clothes to wear and take back, because they are so much cheaper here. if you go to another country to buy your clothes because it is cheaper, there's a big problem.

 

[Fmr jarhead]

It would be an even better situation for them to come to the US and buy our less expensive products,, AND institute a National Sales tax, which would reduce the tax burden even more from the backs of the poor and middle class in America.

I say a weak dollar is a good thing, at this point in time.....watch out for a recession hitting the EU within the next 18 months, though. Their currency is being held at an artificially high rate.....not good for their economy in the long run...but they won't listen to us Cowboys!!!!!

 

[OCA]

Can't address the issues raised, so you attack the messenger. How pathetically typical.

You raised no issues, just another pathetic opinion piece. It must really hurt to find out on Nov.2 that your views were rejected out of hand.

 

[Bullypulpit]

You raised no issues, just another pathetic opinion piece. It must really hurt to find out on Nov.2 that your views were rejected out of hand.

A 2% margin of victory is not an "out of hand" rejection. It is, however, proof of how a well orchestrated campaign of fear and misinformation can corrupt the political process.

 

[Avatar4321]

A 2% margin of victory is not an "out of hand" rejection. It is, however, proof of how a well orchestrated campaign of fear and misinformation can corrupt the political process.

I wouldnt say the political process was corrupted by it. The people simply rejected John Kerry's campaign of fear and misinformation.

 

[freeandfun1]

A 2% margin of victory is not an "out of hand" rejection. It is, however, proof of how a well orchestrated campaign of fear and misinformation can corrupt the political process.

so, considering your hero Clinton NEVER won even 50% of the popular vote, how do you evaluate his "victories"?

 

[musicman]

A 2% margin of victory is not an "out of hand" rejection. It is, however, proof of how a well orchestrated campaign of fear and misinformation can corrupt the political process.

In other words, you're smart and the rest of America is stupid. I wish you'd just come out once and scream it. It would save so much bandwidth.

 

[Bullypulpit]

In other words, you're smart and the rest of America is stupid. I wish you'd just come out once and scream it. It would save so much bandwidth.

No, the rest of America isn't stupid. But those who voted for Dubbyuh are sorely misguided.

 

[Avatar4321]

No, the rest of America isn't stupid. But those who voted for Dubbyuh are sorely misguided.

You keep saying that but have yet to produce any sort of logical or even illogical reasoning for believing that. You are just arrogant and think anyone who disagrees with you ist stupid.

 

[Zhukov]

Any comments on that, Bully?

Just the sad and lonely sound of crickets at night.

 

[sagegirl]

The economy is sure a complicated issue. I read and learn and so many issues seem absolutely at odds. Like the value of the US dollar. I guess it depends on your perspective (how it affects you) . I am reaching retirement age and we have savings invested in annuities, an IRA, CD's and a 401K and our home is paid for. We dont owe any money. We are not rich by any means but I know we are better off than alot of people who are living pay check to paycheck and owe money on credit cards, car loans, and mortgages. The way I look at it a weak dollar hurts me. The money that we have saved and invested is going to buy less in the future with a weaker dollar. ( My mother is getting ready to sell her house and the money she gets for it will not buy as much. ) So on a personal level, I think this devaluing of the dollar is a bad thing. For someone who has debt, I think a weak dollar is an advantage...they get to pay off their debt with dollars that are worth less than when they spent them.....but I know it isnt as simple as this...For one I hope that a weaker dollar will raise interest rates, which is good for a saver and bad for someones who has debt, but of course I'm not sure this is how it is going to work out.
Now on the level of a global economy what does a weak dollar mean. You have indicated several ways this could go, and I think that there are so many variables that it is impossible to predict....but I think there are definately some very bad things that could happen and are not all that far fetched. So although a weak dollar on the world market may be a boon to some I think that overall it is going to really hurt us at home. Those who will gain from this are looking for personal benefits at the expense of the rest of us. That is capitalism at its best and its worst unfortunately I guess.
Down the road, we will have huge deficits and debt, and our ability or inability to meet these obligations, will affect our standing in the world. For those who want a strong US presence in the world, a weak dollar should be of great concern.

 

[freeandfun1]

Sage,

Actually, a weaker dollar will lead to higher interest rates which will help retired people as they will earn more on their savings (CD's, savings accounts, etc.) with much less risk.

The same goes for our debt. As our dollar weakens, the rates paid on the notes will increase and our debt becomes cheaper for internationalists to buy.

Furthermore, the weaker dollar will make US products CHEAPER than imports, so actually, your dollar will buy more US made products and that will mean that there will be more demand for US products, which will lead to less outsourcing and therefore, more US jobs.

The dollar is only weak against the Euro. It is still very strong against the Yen, the Yuan, the Won, etc. The Euro is strong because their economy sucks. Our dollar gained all its strength while our economy was tanking. Now that our economy is growing, our dollar is weakening as there are more dollars on the open market and less hid away.