Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.
Posted on 12/22/2007 7:22:36 AM PST by Libloather
Is this where we want to be? The same economic conditions that existed then?
You seem to believe this is where we are headed, I do not
“Back then about 25-30% of the entire worlds reserves were in dollars versus about 65% now.”
The reason there has been such a large increase, is the fact that we are carrying such a large trade deficit. The scary thing is the dollar has declined this much in a time of economic growth in our country.
We are by far the worlds largest consumer. If they choose they may ask us to pay them in Euros, or Kroner, or Marks, or Yen. So why don't they? The answer is quite obvious, they want our business and do not want to price themselves out of OUR market. Until such time as America ceases to be the engine that pulls the worlds economic train, the dollar will continue to be the currency of choice for the plurality if not the majority of countries.
Over the years the dollar, like other currencies rises and falls and currently it is at a level close to it's historical average if not a tad above. It has even been strengthening relative to the Euro over the past few weeks. The whole thing is nothing more them media scare tactics designed to make people think the end is near and it is, of course, Bushes fault.
Have a Merry Christmas and a nice glass of wine. Don't worry about the dollar, it'll be just fine and so will we. After all we represent about 25% of the entire worlds GDP and as such we will remain at the fore for a long, long time to come.
That's true as long we maintain a position as the primary superpower in the world. The dollar basically is accepted anywhere because the bearer can always cash it in. If that ever changes, we become the Weimar Republic.
I don’t “owe” nobody nuttin!
hehehe...that's a conservative's job, isn't it? ;-)
Nothing is forever but given our current military capabilities and our ongoing R&D programs to advance them, I cannot envision a future when we will not be the preeminent military power.
Libertarian ping! To be added or removed from my ping list freepmail me or post a message here.
>>>This system of government is broken. It needs to be scrapped.<<<
The next step comes when Augustus, having been granted the absolute powers, restores the republic and rules with peaceful beneficence. Good times for a while. Eventually, when the term becomes meaningless, we all get to be citizens.
Hold on tight. The RATS aren't done spending your money yet...
Since we’re all about “sustainability” nowadays:
Socialism ...is unsustainable.
We wish you a Merry AMT,
And a statist New Year...
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