Seeing the US-Situation and how the United States are actually led, a depreciation of the dollar during the next month would be no wonder to me. So what if it really would happen and this by 50%? How would your Lifestyle (as far that you got one) look like?
2006-07-26 09:48:58 · 14 answers · asked by Drew 1 in Politics & Government ➔ Other - Politics & Government
It's already happened. The deficit controls the power of the dollar with over printing of currency. The inflation is the decrease of the buying power of the dollar. Republicans want to tell you different but Gasoline prices are inflation over the choices of the Bush administration. Oil companies made record profits remember. They will turn in record profits for 2006 too.
2006-07-26 09:58:58 · answer #1 · answered by Mortica 4 · 7⤊ 0⤋
It depends. If this is a 50% depreciation in relation to other currencies the effect would be greatly increased expense for foreign goods, but on the plus side US exports might become more competitive and it might be a plus on the whole for US workers. On the other hand if you're looking at a 50% depreciation in the purchasing power of the dollar then things would just be bad unless you invest your money wisely...
2006-07-26 09:54:35 · answer #2 · answered by Adam J 6 · 0⤊ 0⤋
The Great Depression would be a drop in the bucket compared to this catastrophe. Bankers would own all the homes when American dollars could no longer pay the mortgage.
-Ted
2006-07-26 09:52:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
I expect high inflation rather than depreciation of the dollar.
2006-07-26 09:52:28 · answer #4 · answered by Sean 7 · 0⤊ 0⤋
it would be horrible. we would have to downsize our entire lifestyle. i guess we would have to trade our vehicles for less expensive ones. our kids education would be affected. going to a movie or out to dinner would be drastically cut back. i don't like 50% of our income...we lived it before and it was terribly hard on us as a family. it cause stress to rise and affects the whole family system.
2006-07-26 09:55:21 · answer #5 · answered by notyours 5 · 0⤊ 0⤋
Fear based sensationalization is not going to coerse me into re thinking my loyalties to the United States. We are actually just fine and no one has to worry.
2006-07-26 09:51:55 · answer #6 · answered by The Nag 5 · 0⤊ 0⤋
It would affect all Americans.
50% less than they make is a huge cut. For all classes.
2006-07-26 09:52:31 · answer #7 · answered by redchili68 4 · 0⤊ 0⤋
I would have to budget my money to live on half of what I make now. I'd quit putting 30% in savings and cut down on entertainment money.
2006-07-26 09:52:07 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Didn't that happen in the mid 80's?
2006-07-26 09:53:09 · answer #9 · answered by Odie 5 · 0⤊ 0⤋
I don't spend a lot of money anyway. I could probably still get by on half of what I get now.
2006-07-26 10:38:34 · answer #10 · answered by David S 5 · 0⤊ 0⤋