Re: Forbes: "Budget To Nowhere"

On Wed, 6 Feb 2008 19:38:00 -0600, "John Galt"
<whoisjohngalt@xxxxxxxxxxxxxx> wrote:


"Rumpelstiltskin" <PleaseDoNotReplyByEmail@xxxxxxxxxxx> wrote in message
news:sulkq3tie00lobe4cdbv8ie7gebviaejnc@xxxxxxxxxx
On Wed, 6 Feb 2008 17:06:04 -0600, "John Galt"
<whoisjohngalt@xxxxxxxxxxxxxx> wrote:


"Rumpelstiltskin" <PleaseDoNotReplyByEmail@xxxxxxxxxxx> wrote in message


<snip>


There's nothing to swallow. Lower dollar against other currencies makes
your
goods look cheaper to them. That's as obvious as the sun in the sky. Why
do
you think all these Europeans were flying over here to go shopping?



I'd much rather be flying over there to go shopping,
and touring, as the days of America's greatness, but
things cost twice as much now in American razbuckniks.

And there you have it. You know as well as I do how few Americans cross the
pond in their lifetimes. The few of us that do, it sucks, but to the vast
majority of Americans, not a major issue.


What about the cost of imported goods?



There is, of course, the matter of currencies always moving against one
another. Europe is now starting to slow, and their central bankers are
coming under pressure to ease. When they do, the downward pressure on the
dollar stops (actually, the dollar is either flat or up a bit since the
middle of last month just on that reason.)



America has never in my lifetime been this low.
Or been so deep in hock.






Everything we buy from overseas is going to cost more now,
after we've already eliminated our ability to make our own stuff.
Do you think other nations are going to sell goods to us below
their cost out of charity because our dollars aren't worth much
to them anymore?

No. I think if the condition is prolonged and looks permanent, Americans
will start manufacturing businesses again, particularly as wages overseas
escalate.


So parity with Mexico will be "Mission Accomplished"
What a shame, what a disaster, what a sad end for
the USA. Thank you, Reagan, Bush 1, and Bush 2.
Good job. Who could possibly think otherwise?

What matters is standard of living. Snark aside, that's an issue not
necessarily correlated to relative currency values.


Standard of living goes down when one can no longer
afford foreign goods, and when foreign sources for
domestic goods cost more because of a collapsed dollar.



JG



.

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