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CURRENCIES: Euro Sets New Record High Vs. Dollar

2007-05-03 09:31:45 · 4 answers · asked by BushSupporter 2 in Politics & Government Military

4 answers

The Dollar has been going down fast since Bush took office. That's not Bush bashing, I'm just saying. Whether it's because of him or not, I don't know and I don't care.

I know this because I have a friend in England and we do a little business together. (Programming, Graphics, etc.) The British Pound just 4-5yrs ago was worth $1.49, today it's:
1 British pound = 1.9936 U.S. dollars
(Google)

That's insanely high. As a matter of fact, my friend saw the trend and invested £3,000 in USD and made a bit of money, lol.

2007-05-03 09:41:10 · answer #1 · answered by Anonymous · 0 0

If it's happening at all, it makes little difference compared to our other cashflow issues. If we look at our national budget, you'll see that our expenditures in wartime expense outpace our incomes, particularly when we look at the national deficit. The human resource energy directed towards the war also pulls away from reinvestment into more productive activities at home and abroad - activities that are being quickly snatched up by the Europeans and Chinese.

So while we are bogged down in the military distractions and expenses of the Middle East, the rest of the world is taking advantage of our weakening economic situation. This happens though. Look at the British Empire 100 years ago. Countries dominate for a time and then their power wanes. The new EU has invigorated their economy. The Chinese have been quick to grab manufacturing control and resources. India is rapidly working to displace the US as a center for medical knowledge. Iran? I think maybe they kidnapped some British sailors and did some macho posturing, but anything of economic significance? Compared the the EU, China, and India, Iran is nothing to worry about in terms of economics.

But since when is this a military concern? Has the military suddenly realized the 21st century battlefield is not merely physical? About freakin' time! Oh, no, wait. There's a WALL being built in Bagdad. My mistake. Nope. No learnin' there! I wonder how much that wall is going to cost us?

Also, the US is apparently too stupid to tell the difference between the interests of multinational corporations and its own elightened self-interest... Or perhaps the politicians are too bought out to care... Where are all the profits going? Hmmm... Fuel prices just jumped over $0.30 per gallon here yesterday. Benefit from US hand over Iraqi oil to US citizens? 0. Meanwhile, I'll bet oil companies will once again post record-breaking profit margins... When will America learn?

2007-05-03 17:03:57 · answer #2 · answered by Cheshire Cat 6 · 0 0

Iran has a strike against the Dollar?

No, there is intense global pressure on the Dollar, any activities by a (comparatively) small economy such as Iran's will have little bearing.

2007-05-03 16:36:20 · answer #3 · answered by B.Kevorkian 7 · 1 0

I guess so...the Iranian Bank Sepah cannot finance anything...Iran's financial markets are in ruination.

2007-05-04 17:25:55 · answer #4 · answered by Anonymous · 0 0

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