We are approaching a $1 trillion annual trade deficit, most of it with Asia, $220 billion with just China -- just last year.
the shrinkage of the dollar does matter to a country that perchases most of their commodities overseas...
2007-11-17 03:27:45 · 11 answers · asked by Anonymous in Politics & Government ➔ Politics
that is correct, we are all out of gold...
2007-11-17 04:51:46 · answer #1 · answered by ὀκτάπους 5 · 1⤊ 0⤋
Shrinking dollar means that everyone will need more of those glorious American green backs to purchase services and other commodities - regardless of where they are produced.
$3.00 for a gallon of gas, $5.00 for a gallon of milk, $3.00 for a gallon of heating oil and on and on it goes. It's not so much that the products are more expensive as it is the fact that the dollar is simply worth less.
And wages? Not even close to keeping up or even staying even with our real purchasing power. I can't believe your contention that "some say it doesn't matter" - unless you are referring to the top 5% of the wage earners in this country.
2007-11-17 11:40:33 · answer #2 · answered by LeAnne 7 · 1⤊ 0⤋
There are good and bad points.
Good it makes our manufactured goods cheaper in foreign markets, and increases tourism. Those wise enough to invest in the FX market are making a killing.
Bad imported goods cost more.
Interest rates will eventually have to catch up with inflation.
There are many pro and con sides to this question these are only a few.
2007-11-17 11:36:48 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Yes, it matters a great deal. Anyone that says devaluing their currency "doesnt matter" is clueless. Thats like a corporation devaluing their stock.
We need to revisit ALL of our trade agreements. I feel NAFTA is horrible for US interests.
2007-11-17 11:37:14 · answer #4 · answered by Anonymous · 1⤊ 0⤋
The influence of the US is shrinking in the World and the earth will be a better place.
2007-11-17 11:45:10 · answer #5 · answered by NLBNLB 6 · 1⤊ 0⤋
Hi,
It does matter, but what can we do when we don't
control or have input when it comes to the money that
we are being taxed on or work for?
2007-11-17 11:35:49 · answer #6 · answered by Anonymous · 1⤊ 0⤋
No kidding right....
I spent $8 in Destin Fla for a stupid whopper meal at BK yesterday. It's affecting us right here at home too.
2007-11-17 11:31:23 · answer #7 · answered by The prophet of DOOM 5 · 2⤊ 0⤋
It matters to Canadians.
Their companies that have contracts with American companies are filing for credit protection (Bankruptcy).
2007-11-17 11:31:30 · answer #8 · answered by Anonymous · 2⤊ 0⤋
The value of our dollar hasn't mattered since we were taken of the gold standard, its all in the mind.
2007-11-17 11:33:11 · answer #9 · answered by edubya 5 · 0⤊ 2⤋
Of course it matters, we will be able to buy less stuff and buying stuff is what drives our economy.
2007-11-17 11:34:09 · answer #10 · answered by ash 7 · 1⤊ 0⤋
it dosent matter to me i am Australian, pretty soon ill be able to visit the US on a beer budget.
2007-11-17 11:31:26 · answer #11 · answered by Gengi 5 · 5⤊ 0⤋