Is the USA not on the verge of economic catastrophe??

Question

Having homes in both the USA and Canada I well know how the US dollar is in free-fall from the Bush-Cheney ("Deficits don't matter!") economic policies.

But how long will the foreigners who have bought US debt put up with their holdings depreciating daily (a personal example:
my American stock market holdings over the past 2 years have
gone up by almost $US 1,000,000. But valued in Canadian dollars I have hardly earned a penny!). Is it not obvious that just a sentence or two from a finance minister or other leading politico in China or South Korea or Japan, or even from George Soros, would result in total American financial collapse???

Answer 1

No, it's not on the verge of economic catastrophe.

True that the dollar's exchange rate is falling ("free-fall" is an overstatement). But that has pluses for the US economy as well as minuses. Part of that, of course, involves eventually altering the balance of trade with, say, Canada, encouraging exports from the US and discouraging imports.

I'm not sure what you think Soros would say that would have that big an impact: "Hey, look, the dollar's falling" -- like nobody else has realized it?

Answer 2

you might want to move your money out -- Us politics is in free fall and it looks like the socialists are going to be elected in 2008 which will result in stiff tax increases in 2009

it may take 4 or 8 years for the country to wake up and vote the fools out of office after that. Unfortunately, as the theft of US missile technologies from Bill Clinton showed, foolish foriegn policies have worldwide repercussions that last for generations.

Answer 3

On the verge of catastrophe? I don't think so.
Our economy is growing. Fast. It won't collasp.

Answer 4

it is still 1m in US so cash it out here and take it home