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Offlinelonestar2004
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Eichel - U.S. will one day realize PAIN of weak dollar.
    #3545874 - 12/26/04 11:29 PM (12 years, 11 months ago)

advice from a heavily socialist, weighted economy, high unemployment, no prospects, and zero growth is always valued.....

i thought the E.U.(socialist utopia) loved bragging about their strong EURO? maybe they are going to feel the PAIN?


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Offlinelonestar2004
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: lonestar2004]
    #3545879 - 12/26/04 11:31 PM (12 years, 11 months ago)



--------------------
America's debt problem is a "sign of leadership failure"

We have "reckless fiscal policies"

America has a debt problem and a failure of leadership.

Americans deserve better

Barack Obama


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Anonymous

Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: lonestar2004]
    #3547426 - 12/27/04 11:07 AM (12 years, 11 months ago)

a weaker dollar will result in increased exports.


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Offlinelonestar2004
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: ]
    #3547483 - 12/27/04 11:25 AM (12 years, 11 months ago)

do you mean u.s. exports more and e.u. imports more? i am just confused why e.u. would give a shit about the states weak dollar. our economy seems about the same from a weak dollar, why not let the dollar be weak for a few years? would it hurt us?


--------------------
America's debt problem is a "sign of leadership failure"

We have "reckless fiscal policies"

America has a debt problem and a failure of leadership.

Americans deserve better

Barack Obama


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OfflineThe_Red_Crayon
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: lonestar2004]
    #3550524 - 12/27/04 11:18 PM (12 years, 11 months ago)

It means when your europeans come to America its like shopping at walmart, and when Americans go to Europe its staggeringly expensive for them.


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Offlinelonestar2004
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: The_Red_Crayon]
    #3550646 - 12/27/04 11:39 PM (12 years, 11 months ago)

so the E.U. is worried about American tourists, good let them come over here and spend those strong euros.


--------------------
America's debt problem is a "sign of leadership failure"

We have "reckless fiscal policies"

America has a debt problem and a failure of leadership.

Americans deserve better

Barack Obama


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Anonymous

Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: lonestar2004]
    #3557689 - 12/29/04 04:45 PM (12 years, 11 months ago)

increased US exports.


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InvisibleAutonomous
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: ]
    #3558019 - 12/29/04 06:09 PM (12 years, 11 months ago)

Decreased purchasing power for everyone holding dollars. In other words, Americans are poorer.

BTW, the dollar fell to a new record low against the Euro today, $1.3646 - before recovering slightly to $1.3582 by the close of trading.


--------------------
"In religion and politics people's beliefs and convictions are in almost every case gotten at second-hand, and without examination."
-- Mark Twain


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OfflineMushmonkey
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: Autonomous]
    #3558481 - 12/29/04 08:18 PM (12 years, 11 months ago)

No.. Americans are just poorer when buying from the member nations of the EU.

Hey, I'm sure there's plenty of people perfectly happy with the Europeans buying more American imports, and fewer Americans buying European imports.


--------------------
i finally got around to making a sig
revel in its glory and quake in fear at its might
grar.


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InvisibleAutonomous
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: Mushmonkey]
    #3558862 - 12/29/04 10:13 PM (12 years, 11 months ago)

As one who supports a family, I can assure you that the rise in prices resulting from a devalued dollar is quite real and has severely effected our budgeting We have less money available to save or invest for retirement as a greater portion is used to pay for everyday expenditures. My family and many other families are poorer, for the majority of people the rise in wages (if you are so blessed to get a pay hike) does not keep up with the rise in food and fuel prices. Our "tax cut" has been more than eaten up by the devalued dollar.


--------------------
"In religion and politics people's beliefs and convictions are in almost every case gotten at second-hand, and without examination."
-- Mark Twain


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Offlinelonestar2004
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: Autonomous]
    #3559270 - 12/29/04 11:52 PM (12 years, 11 months ago)

Autonomous can you give examples? i believe you, but it is hard for me to comprehend. i know gas prices have gone up. i paid $1.52 a gallon here in south Texas today and last year i think it was around 1.35 a gallon. but in this country we are use to prices going down. for example i bought a DVD player last week for $29.99 at walmart. my first DVD player cost $200.


--------------------
America's debt problem is a "sign of leadership failure"

We have "reckless fiscal policies"

America has a debt problem and a failure of leadership.

Americans deserve better

Barack Obama


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OfflinePhred
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: Autonomous]
    #3559394 - 12/30/04 12:19 AM (12 years, 11 months ago)

I'm not saying I disbelieve you, but I'm having a hard time grasping the connections here. Yes, oil prices are up, but they are up by less in the US than they are in any other country (OPEC nations aside) in the world. Gas prices have fallen for eight weeks in a row now in the US (averaged across the country). The rise in oil costs has nothing to do with the strength of the US dollar and everything to do with the OPEC nations' decision to bump the price of what they sell.

As for food costs, naturally with higher energy costs producing food will be more costly, and importing foreign food products even more so. But if I'm not mistaken the average American eats very little imported food as a percentage of their food budget. Coffee, bananas, coconuts, cocoa, brie and wine.... what else does the average American eat which isn't grown on US farms?

Clothing I can see being a factor, especially for families with children rapidly outgrowing their clothes. Almost all inexpensive clothing and footwear is imported and will therefore increase in price as the dollar weakens against the currencies of the countries in which the clothing is manufactured. Imported European cars will also become more expensive. How often do people buy new Fiats or Peugeots or Volkswagens or Volvos? Is it a significant factor in this year's budget for the average American? I ask that because it is really only in the last year the dollar starting losing strength against the Euro.


pinky


--------------------


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Invisiblepsilomonkey
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: Phred]
    #3561863 - 12/30/04 04:53 PM (12 years, 11 months ago)

The rise in oil costs has nothing to do with the strength of the US dollar and everything to do with the OPEC nations' decision to bump the price of what they sell.


Hmm, tricky one.

OPEC trade oil in US Dollars, which they then use to purchase goods and services. If they are buying from the US this is not a problem, however if they want to trade with other non-US currency nations, such as the EU and Japan, they they get less for each barrel, hence they put the price of a barrel up.

China is also an interesting wild-card. China currently pegs it currency on the US Dollar for the purposes of international trade, so you have purchasing parity with a massive economy, hence the falling dollar has little effect on US China trade. If china were change this policy the effects of a weak dollar would be felt more strongly in the US.


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OfflinePhred
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: psilomonkey]
    #3562046 - 12/30/04 05:51 PM (12 years, 11 months ago)

psilomonkey writes:

OPEC trade oil in US Dollars, which they then use to purchase goods and services. If they are buying from the US this is not a problem, however if they want to trade with other non-US currency nations, such as the EU and Japan, they they get less for each barrel, hence they put the price of a barrel up.

Your reasoning is correct -- to a point. I cannot swear that a small part of the increased price of oil set by the OPEC nations wasn't due to a weakening of the US dollar. I cannot prove that OPEC's increase had nothing to do with the relative strength of the US dollar vs the Euro. However, compare the 52 week low price of a barrel of oil to the strength of the US dollar at that same time. The price of a barrel of a oil has risen far more in the last year than the US dollar has dropped against the Euro. I again point out that the price of petroleum has risen less in the US than it has in any other country -- including Canada of all places, which is not only self-sufficient in terms of oil and gas but is a net exporter. Why was I paying 90 cents Canadian a liter in Canada (on my annual fall trip) for regular gasoline in late November of this year when they import exactly zero oil from OPEC nations? That works out to about US $2.62 a gallon. I don't know what it sells for today in Canada, but the average nationwide price in the US last week was $1.62 a gallon. Here in the Dominican Republic it's US $3.10 a gallon.

Are rising oil prices responsible for increased cost of living rates everywhere in the world? Of course. But that increase is less in the US than anywhere else I can think of. The rise in the cost of living in the US this year was around 2 per cent, even with the huge jump in the cost of OPEC crude.


pinky


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Invisiblepsilomonkey
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: Phred]
    #3562197 - 12/30/04 06:41 PM (12 years, 11 months ago)

Petrol pump prices are tricky to compare. Massive variations in taxation as well as the fact the petrol is a refined product, often a product of a different country to where it was extracted adding more exchanges and tariffs.

In the UK we don't feel the affect of the rise that much as the pound is trading strong against the dollar, but the price has risen by about 12% over the last year.

Edit: Link http://www.theaa.com/allaboutcars/fuel/

Here are some figures from  AA's that's (a motoring organization over here not alcoholics anonymous :smile:)

Nov '04 The UK average price was 90.1 pence per liter of which 67.2% (60.5p) was tax.

Nov '03 The UK average price was 81.5 pence per liter of which 72.7% (59p) was tax.

There are other major factors at play, such as instability in the middle east and other oil producing nations, and damage from natural events like the hurricane that hit South American production.

Edit: And not to forget the largest factor, World demand is up. :smile:

Anyhow off to bed need to save energy for NYE, so have a happy new year!

There are 3.78 liters to a US gallon.




Edited by psilomonkey (12/30/04 06:50 PM)


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OfflinePhred
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: psilomonkey]
    #3563204 - 12/30/04 11:51 PM (12 years, 11 months ago)

psilomonkey writes:

In the UK we don't feel the affect of the rise that much as the pound is trading strong against the dollar, but the price has risen by about 12% over the last year.

The price of the actual product -- gasoline -- rose by 31.6% if the figures you quote are accurate. The UK government (for a change) reduced the taxes a bit so the price the consumers pay at the pump has risen by less than 31.6%.

How many pence are there in a pound? I always get confused with the whole guineas and shillings and farthings bit. Is it still 240 pence to the pound? If so, then y'all were paying about US $2.74 per US gallon in November of this year, which is not that much more than I paid in Canada in November of this year. Could be worse.


pinky


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Invisiblepsilomonkey
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: Phred]
    #3564300 - 12/31/04 06:15 AM (12 years, 11 months ago)

You are correct, the price of gasoline (sans tax) has risen by about 32% ,and the pump rise of 12% is because of the government offsetting with lower taxation (yes I am stunned too).

BTW is the 32% rise in product price the about same everywhere?

However the price of crude has risen about 70% in the same period, a very complex situation. The UK is also an oil producing nation (North Sea), as well as many interests abroad.

The affect of a weak dollar will not be felt strongly by the US in oil prices because the oil producers are locked into using the dollar. Many can't change without crashing there own economies, its genius really.


Edited by psilomonkey (12/31/04 07:30 AM)


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OfflineJ4S0N
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: psilomonkey]
    #3564532 - 12/31/04 10:00 AM (12 years, 11 months ago)

The USA is in incredible dept right now to the Federal Reserve (mostly foreign investors). So who knows whats going to happen to the dollar, its really up to the Federal Reserve.. There could be another depression. The dollar will mostly likely bounce back this coming year, but there is also a good chance it won't. Bush seems to just keep increasing the national dept.

Its kind of scary to think the US economy is riding on loans from foreign investors (Main one is the Bank of England). Families like the Rothschilds have so much control in the economy.


--------------------
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Former Director, CIA


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OfflineGazzBut
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: Phred]
    #3564591 - 12/31/04 10:41 AM (12 years, 11 months ago)

Quote:

always get confused with the whole guineas and shillings and farthings bit. Is it still 240 pence to the pound?




Oh deary me my old china! We went decimal over 30 years ago..100 pence to the pound.


--------------------
Always Smi2le


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OfflinePhred
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Re: Eichel - U.S. will one day realize PAIN of weak dollar. [Re: GazzBut]
    #3564857 - 12/31/04 12:27 PM (12 years, 11 months ago)

You know, I thought you guys had been decimal for decades, but when I ran a quick calculation I saw it yielded a truly preposterous price per US gallon of petrol, so I figured I must have been mistaken.

Maybe someone can check my math here:

90.1 pence per liter translates to (at today's exchange rate of US$ 1.916 to the pound) US$ 1.73 per liter.

Multiply that by 3.78 liters to the US gallon and we get a pump price in the UK of US $6.53 !!!!!

That can't be right. I knew petrol is expensive in the UK, but there's no way it can be over four times as expensive there as in the US. No way. Hell, that's two and a half times as much as it is in Canada and more than double what it is here in the Dominican Republic.

Either I've forgotten my grade school arithmetic or psilomonkey's pump prices are wrong. As psilomonkey points out, the UK is an oil-producing nation -- no need to import from the Gulf nations. If anything, their prices should be lower than in the US because of that.


pinky


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