| Author | Message | ||
     Randall Smith (Mr_smith) Member Username: Mr_smith Post Number: 238 Registered: 04-2003 |
1GBP=1.91US$ That can't be good for the cost of replacement parts. Euro climbing too. | ||
| Dean Brown (Deanbrown3d) Senior Member Username: Deanbrown3d Post Number: 1447 Registered: 02-2002 |
But they're paying 4x the cost for gas  | ||
| michael burt (Mikeyb) Senior Member Username: Mikeyb Post Number: 666 Registered: 03-2002 |
that is the worst i have seen it in years. years and years...too bad i don't qualify for one of george's rich buddy tax breaks because exchange rates like that mean i will not be making any european vacations soon. | ||
| Randall Smith (Mr_smith) Member Username: Mr_smith Post Number: 239 Registered: 04-2003 |
Speaking of tax breaks/vacations. Me and wife and daughter are headed to Barcelona soon. Prices to show at convention are sky high in dollars, but finding new european distributors for my products is good for american economy. | ||
| Michael L. Palmieri (Great_pumpkin) Member Username: Great_pumpkin Post Number: 42 Registered: 01-2004 |
I was in the UK in March/April of 03 and it was $1.44 to �1. The year before when I was there it was $1.37 to �1. This is crazy. before you know it it will be $2 to �1 | ||
| michael burt (Mikeyb) Senior Member Username: Mikeyb Post Number: 668 Registered: 03-2002 |
cool! tell gaudi's buildings hello...cool buildings. | ||
| John Cinquegrana (Johnc) Senior Member Username: Johnc Post Number: 602 Registered: 07-2002 |
Randall, when are you going to Barcelona? We were thinking of going this year but the only time we can go is spring break (because of the kids). Just wondering. | ||
| Ron Brown (Ron) Senior Member Username: Ron Post Number: 715 Registered: 04-2001 |
The low dollar eventually will go the other way and it will have an inflationary pressure on the economy and interest rates in the US. It is really a pretty clever deal how they bought us a bit of economic prosperiety with devaluing the dollar, but it will go the other way, and we will all be paying for it in the end. No such thing as a free lunch and all. This is the main reason I am leaning toward bankruptcy law at the momenet. Ron | ||
| Mike Rupp (Mike_rupp) Senior Member Username: Mike_rupp Post Number: 313 Registered: 02-2002 |
There really isn't any evidence that devaluation of US currency has brought any prosperity to the US economy. We still run a huge trade deficit & exports haven't increased much at all. US manufacturers are at a severe disadvantage in any labor intensive operation. As our economy transitions away from low-end manufacturing, I'm sure there will be plenty of bankruptcies to keep you busy. | ||
| Ron Brown (Ron) Senior Member Username: Ron Post Number: 717 Registered: 04-2001 |
We will see Mike, you sound like the people in 1999 who were talking about the new paradym in the market. The devaluation is pretty much the main reason that the stock market is up now, and while the effect is a lot less drastic in the consumption and manufacturing sectors the lower valuation has permitted interest rates to stay low, with a revaluation of the dollar (which I feel is an eventual certainty) rates will climb and there will be a real crunch as companies and people can't cover the interest on their debts. I am predicting stagflation as the real killer but like I said we will see. Ron "economic hack" | ||
| Randall Smith (Mr_smith) Member Username: Mr_smith Post Number: 240 Registered: 04-2003 |
John C: will be traveling for about 8 days around the 1st of April. Daughter will miss a week before their break, but it's "educational". The convention is at the Fira de Barcelona, which is huge center like Vegas. You could probably spend a month in Catalan and not see it all. Tourism is the biggest industry of Spain(not sure). To all: Big decrease in dollars value against the pound would mean higher prices for Rover parts/ cars. Rover doesn't assemble in USA. Not sure what will happen as a result. Can't be good news for LR. Randall | ||
| R. B. Bailey (Rover50987) Senior Member Username: Rover50987 Post Number: 746 Registered: 07-2002 |
Hey, I got a George tax break and I am below the poverty line! | ||
| Andrew Maier (Newman) Senior Member Username: Newman Post Number: 568 Registered: 04-2003 |
Can't afford something? What are your choices? (1) Save for it until you can afford it; (2) Settle for something less than what you want that costs less; or (3) Blame the President. Sheesh... | ||
| michael burt (Mikeyb) Senior Member Username: Mikeyb Post Number: 669 Registered: 03-2002 |
i pick #3. not because i can't afford what i want, i do just fine, but because it is warrented. | ||
| Mark & Bev Preston (Markp) Senior Member Username: Markp Post Number: 263 Registered: 02-2002 |
Blaming the President is interesting since that office does not control monetary policy. The dollar's deflation is driven by the Fed. They have the printing presses running full bore. Lots of fiat money results in lower relative value. Ole Alan ignored the bubble, invented "productivity gains" to explain an overvalued stock market, and now is trying to fix the consequences of trillions of dollars evaporating. I hope they (Fed's) know what they are doing because the end game could get ugly. If they couldn't see the bubble, then why would we think they can see the outcome of what they are doing now? | ||
| Steve Cooper (Scrover) Senior Member Username: Scrover Post Number: 697 Registered: 09-2002 |
It's crazy, I don't remember the last time it was this high. I just got a shipment from the UK  I don't think I can hold my prices. SC | ||
| Mahn England (One_iota) New Member Username: One_iota Post Number: 37 Registered: 02-2003 |
The Ozzie dollar now buys US$0.80. The best in 7 years. We were near US$0.50 not so long ago.Then there have been the recent trade agreements between OZ and the US. The last person standing wins! | ||
| Mike Rupp (Mike_rupp) Senior Member Username: Mike_rupp Post Number: 316 Registered: 02-2002 |
How do you invent productivity gains? There has been virtually no hiring for the last few years in an effort to keep costs to a minimum. At the same time output has increased. Naturally productvity will increase. I'd love to know how "Ole Alan" invented productivity gains. Please explain. I love unsubstantiated allegations. | ||
| Rob Davison (Nosivad_bor) Dweb Lounge Member Username: Nosivad_bor Post Number: 1634 Registered: 02-2003 |
i am loving the fact that the pound is high and euro is high. company i work for sells a lot to Europe and this is really making things nice. it's like our stuff is on sale. for years we had to deal with the opposite and this is when the economy was worse. i like it. rd | ||
| Mark & Bev Preston (Markp) Senior Member Username: Markp Post Number: 264 Registered: 02-2002 |
Mike - wasn't clear enough. There have been productivity gains as you correctly explained - increasing output with either fewer workers, same workers or a marginal increase in workers. What the Fed tried to do is justify the inflated stock market with these productivity gains. A companies productivity gains can somewhat justify an increase in value but this relationship was grossly distorted during the bubble. In the Feds "managed economy", Alan justified large increases in stock prices with productivity gains and didn't see the bubble. Shouldn't have used the word invented. I was thinking "invented" as to how the stock prices were explained. That's what happens when you add your $0.02 worth during meetings :-) Wireless is great for those boooring meetings. | ||
| Art Bitterman (Aardvark) Member Username: Aardvark Post Number: 85 Registered: 05-2003 |
Remember back when Jimmy "Peanut" CArter was the Prez, the quid was going for $2.56. Reagan comes into office, pound drops overnight. Not sure exactly why, but was hard paying my rent over there at the time! |
