Posted on 06/04/2005 8:35:50 PM PDT by Flavius
I always said the Euro had nothing to really back it up.
In every way, it reminded me of our own irrational investment in the stock market years ago.
The aspects of socialism are calculable. To the penny.
Screw the Gnome of Omaha, too. He bet on the Euro big time.
and our current real estate price bubble.
its fashionable to trash europe, and I understand it from a political viewpoint. but the US has many of the same economic challenges hurting europe, because of free trade and globalism depressing wages and stripping industries that once provided middle class jobs, sending them offshore.
the thread running now with the thomas friedman article is worth taking a look at.
Let's see if I have this correct? Cognac should be cheaper in the US now that the euro has become the screwedo. But hey, wait, I don't care, it's still French.
Oh the sacrifices one must make. It is worth it.
The one thing that would have helped them to get long term unemployment under control they reject ? It will get worse in the years to come and we are headed on the same path. A global economic meltdown is right around the corner if you talk to people who understand the derivitives market. Misery loves company and our bone headed politicians are now talking about universal healthcare and we have some huge companies who are going to default on their pension payments and the US Pension Guarnentee program is going to stick all of us with the bill.
Lol!
Btw, Italians hate the Euro. They blame it for all ills. They'd be among the first to dump it. They shouldn't, but they just might... Then again, I miss the days of 10,000 lira / dollar.
John, You have valid fears, but America could outwork any nation in the world, per capita. And this would remain true even if we shipped our unwanted guests back home. I have wondered why no one has pointed out that if we send all of the illegal aliens back to Mexico and other places, Our economy will blossom. Wages will have to be raised to attract American workers again. The job market will be good, and the companies will have to treat the working middle class better. With the extra money in American's pockets, they will buy more, pay more taxes. and be even more productive. Our health care costs, welfare costs, and all government costs will go down also.
Would some patriotic politician with gonads please step forward and tell the truth, and get this work started?
I've been saying the same thing to friends looking to dump the US dollar. I don't know which of them did, but those that did have to be a bit more nervous than if they had left the status quo.
We won't be sending them back but I'd like to see a plan put in place to close off the borders to new ones coming in and get away from taking in so many illiterates and start a selective immigration program.
"and our current real estate price bubble.
its fashionable to trash europe, and I understand it from a political viewpoint. but the US has many of the same economic challenges hurting europe, because of free trade and globalism depressing wages and stripping industries that once provided middle class jobs, sending them offshore.
the thread running now with the thomas friedman article is worth taking a look at"
Even with outsourcing, US still has, what, a 5.1-5.2% unemployment rate?
Europe, which is basically sliding into a purely socialist continent has 8-10% unemployment rate.
Productivity levels are still higher in the US than in Europe.
In conclusion, do you support them ousting the euro or keeping it?
sorry but the title did not have enough space.
But these guys are good, trust me Sroder probably called them personally and told them to bail
Its still fun to poke fun at em
our "productivity miracle" in the US is, in large part, happening because US companies are offshoring low productivity jobs (call centers, technical support, low skill manufacturing, etc) to lower cost centers. the unemployment rate doesn't measure alot of what is going on in the job market - people losing their once full time white collar corporate positions, who now work as consultants but in fact work only part year on contracts with no benefits. it also does not measure the shift to service jobs which tend to be lower paying.
people laugh at europe when we see 1% growth rates there. the US is lucky to hold onto 3%. sure, its better then europe, but not by much.
china is sucking all of the air out of the western economies. china is essentially an enterprise zone into which western corporations are pouring investment capital. deal with china, and you'll solve half the problem. then maybe we can get some real productivity inmprovements, the kind that come from investments in technology and automation, not those that come from finding workers who will work for slave wages at the point of a communist gun.
the economies of the members are too disparate to be unified under one economic policy. Italy has a textile industry (clothing) that is important to them, employs alot of people, and they don't want to lose it. the rest of the western nations (US included) is eager to see that industry relocated to china. who wins, who loses?
I had lunch some weeks ago with a collegue. He said that Europe was the future and America was in fast decline. He was going to buy euros. I then told him that the EU was a pipe dream and would disintegrate sometime over the next 10 years. He looked at me like I belonged in a mental hospital.
It looks like collapse may be happening much sooner than that. I can't wait to have lunch with him again.
1. All illegal immigrants deported.
2. Wages rise.
3. Prices of consumer goods produced by domestic companies therefore rise.
4. American consumers become poorer, because their dollars don't go as far.
and/or
3. Companies move out of the country to avoid higher labor costs. More manufacturing moves to China, Mexico, or Southeast Asia.
4. The prices of consumer goods remain the same. Manufacturing jobs continue to dwindle.
Step #2 does not lead inevitably to "more money is in American consumers' pockets", because a decreasing proportion of Americans are factory workers.
Deporting illegal immigrants is a good idea, but the reasons why it's a good idea aren't economic.
Guy, one might argue that the Euro has been back up with massive amounts of U.S. envy.
As an aside (and this is NOT investment advice) I'm wondering if this might be a good time to consider investing in the dollar? Or perhaps a "put" against the Euro?
JMHO. Always discuss all investments with investment advisor, physician, and spiritual consultant. Look before you leap (and then take the elevator).
.
.
Some would tell you gold, in the short term with oil companies getting big bucks for their gas, I can't see most oil company stock in the short term not make massive gains IMO.
But there is risk in anything, you never know anything for sure in life except that one day, you to will die.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.