Im getting sick and tired of everyone saying "The weakening U.S. Dollar" Why is this?? Please help soon... =)
2007-11-19 10:04:34 · 22 answers · asked by Anonymous in News & Events ➔ Current Events
Because we have overspent on a stupid WAR. It's like when you've maxed out your credit card. We owe the CHINESE so much money. That's why we're importing all this Chinese crap, too. Blame Bush.
Oh and to the guy who talks about the New World Order--have you ever read about the ANTICHRIST?
2007-11-19 10:08:53 · answer #1 · answered by Anonymous · 4⤊ 1⤋
This has been going on since 2001, Bush has been emulating Reagan's 'loose-money' policy and it has worked up to this point very well and will continue to do so as long as inflation stays in check.
Unemployment is very low, Inflation over the entire Bush term in office has been very good, Oil has gone up and up but the Stock market is still doing remarkably well, especially considering 9/11 and all. The real rope around our necks and our kids necks is the crappy entitlement retirement system of Social Security, it needs to be privatized or should allow anyone who wishes to opt out of it.
Furthermore, the weak dollar helps exports.
Okay, when the dollar weakens simply invest in foreign currency or gold, that's what rich people do. If you can't afford to then a weak dollar doesn't affect you anymore than it affects your neighbor anyway.
I love the one word answers of: Bush. Like all problems with everything begin and end with him. By the way, the FED Chairman reports to CONGRESS not the President.
2007-11-19 10:27:55 · answer #2 · answered by Xero Sinko 2 · 1⤊ 1⤋
If I 'max out' my credit cards, go into debt for a new car, spend more money that I earn, and wipe out all my savings, my personal financial circumstances weaken.
If an insane, demonic U.S. Presidents engages in runaway spending over an immoral and unconstitutional 'war', practices reckless economic policies, and allows the national debt to skyrocket, the country's financial circumstances are weakened.
It's that simple. Shortly after Bush leaves office, the U.S. will experience the worst economic depression in its history. Millions will be out of work; banks will close, and America will be in the throes of economic chaos for at least a decade or more. -RKO- 11/19/07
2007-11-19 10:53:00 · answer #3 · answered by -RKO- 7 · 1⤊ 0⤋
While I have nothing but utter disdain for Bush, I believe the devaluation of the U.S. dollar you are seeing now began during Clinton's presidency, and more importantly under Alan Greenspan's reign over the Federal Reserve Bank.
During Greenspan's tenure at FRB, the prevailing wisdom was for the Treasury to print and pump dollars into the economy, which accounted for the economic boom which crescendo'ed in the late 1990s...however, the problem with flooding the market with anything, dollars or lead pencils, eventually scarcity becomes overabundance and the value of the item falls...
Such is the story of the imminent demise of the U.S. dollar...now, the fate of the U.S. dollar is in the hands of 1-china (who holds most of U.S's debt in dollars and is not happy about it- it's like a loosing stock right now) and 2-opec (with enough pressure could change oil currency to euros).
Keep in mind, mine is just but one point of view about the whole situation.
2007-11-19 10:21:53 · answer #4 · answered by Anonymous · 1⤊ 2⤋
Yep looks like your on a roll alright and it could get worse if countries continue to switch from the dollar to euro for their reserve currency.At present it's still the largest percentage reserve for the main players but looks like it could change.
2007-11-19 10:34:48 · answer #5 · answered by Misty Blue 7 · 1⤊ 0⤋
We moved all the jobs overseas and well the war is costing us trillions. We also gave the banks the right to make our currency instead of the government. So the corporations rule the world not countries
2007-11-19 10:34:42 · answer #6 · answered by Rob Riff 2 · 1⤊ 1⤋
because more U.S dollars are being printed on a normal to daily basis, so the value of the dollar is weakening, and the war has money we can't take back
2007-11-19 10:08:14 · answer #7 · answered by Andy 2 · 0⤊ 3⤋
Perhaps the demise of democracy and the failure of capitalism? Or, the effects of a bad president who is out of control in all things he does - or a combination of the two.
2007-11-19 11:04:51 · answer #8 · answered by commonsense 5 · 1⤊ 0⤋
print more dollars scare more investors yet now our products seem like a good buy to those outside the US, that is if you can find anything made in the USA anymore.
2007-11-19 10:25:34 · answer #9 · answered by Anonymous · 1⤊ 0⤋
china has $1.33 trillion in us dollars in reserve americas gdp is $12trillion
china basically owns about 10% of the usa
and if opec changes to the euro omg ur fu*ked
2007-11-19 10:16:44 · answer #10 · answered by Anonymous · 2⤊ 0⤋