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The dollar is rebounding

Did you know that the US dollar is suddenly growing again, while the euro and the pound are weakening?

quote:

The good news for Americans is that the euro and pound are weakening. That makes it less expensive for vacationing Americans to visit their favourite parts of Europe � and for businessmen to cross the Atlantic to close such deals as are still being consummated. A �300 London hotel room that cost $600 can now be had for closer to $550.

http://business.timesonline.co.uk/t...icle4547893.ece

Its because in the uk, everyone is so hell bent on taking your earnings through the essentials of life(food,car etc) that not many people have room for leisure money, I think that applies across europe, they blame it on redneck americans with mortagages over here , but i think some corps and companys have got too greedy to fast and while we suffer , they tell us to stop moaning.

darn capitalism

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Originally posted by adi_hanson Its because in the uk, everyone is so hell bent on taking your earnings through the essentials of life(food,car etc) that not many people have room for leisure money, I think that applies across europe, they blame it on redneck americans with mortagages over here , but i think some corps and companys have got too greedy to fast and while we suffer , they tell us to stop moaning. darn capitalism

lol, redneck Americans...

That didn't stop Swiss bank UBS or any German, and for that matter European banks from investing in those same "red neck Americans".

If I had my way, I would have nationalized Bear Sterns, Freddie Mac, and Fannie Mae.

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Originally posted by Krypton lol, redneck Americans... That didn't stop Swiss bank UBS or any German, and for that matter European banks from investing in those same "red neck Americans". If I had my way, I would have nationalized Bear Sterns, Freddie Mac, and Fannie Mae.

Well over here , they have already nationalised Northern Rock bank , and it hasnt gone down well at all , 500 mill drop in profits to be exact , and yes your right they also missed the point of the investment of rednecks from european banks ,

hope you enjoy that beer , knowing what youve caused lol

the uk economy is crashing, so something like this is bound to happen. We're heading for a bleak period and we will weaken against everything for a bit. We're under poor leadership & the wrong decisions have been made in many things and it's all coming back to haunt us

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Originally posted by Ian We're under poor leadership

lol ,understatement

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Originally posted by adi_hanson lol ,understatement

ironic that the man who made all those decisions as chancellor is now prime minister though. Shame he hasn't got the guts to call an election.

Its not the election he should be worried about , he recently called thatchers generation a 'lost one',

gees, better that labours , go out and beat someone to death with general intimidation and let the public go wild on each other generation.

How one party can destroy a social structure like they have is amazing.

I feel sorry for whoever has to clean up this mess

quote:

The good news for Americans is that the euro and pound are weakening. That makes it less expensive for vacationing Americans to visit their favourite parts of Europe � and for businessmen to cross the Atlantic to close such deals as are still being consummated. A �300 London hotel room that cost $600 can now be had for closer to $550.

yet they dont mention that a strong dollar is against the interests of exporters.

Are there still Americans going on vacation?
I thought staycations were the new thing.

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Originally posted by mndeg Are there still Americans going on vacation? I thought staycations were the new thing.

the majority of americans are unaffected by the 'economic situation'. The commentary on tv is just crap from some rich blowhards to try and sound compasionate to the average person. My expenses have only risen slightly, my income has increased significantly, so i'll go on a vacation whenever the hell i want. my vacation isn't being ruined because bob shithead in oklahoma over extended his ass.

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Originally posted by jerZ07002 the majority of americans are unaffected by the 'economic situation'. The commentary on tv is just crap from some rich blowhards. My expenses have only risen slightly, my income has increased significantly, so i'll go on a vacation whenever the hell i want. my vacation isn't being ruined because bob shithead in oklahoma over extended his ass.

Exactly. I cant believe that americans are whining about being subject to the same market conditions re the value of their currency that a) they have been subject to for 4 decades and b) every other nation has had to deal with for the same amount of time. its high time they grew the fuck up.

Rising unemployment, increased cost of living, around 30% decrease (and increasing) in home values.

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Originally posted by mndeg Rising unemployment, increased cost of living, around 30% decrease (and increasing) in home values.

welcome to capitalism.

quote:

Originally posted by mndeg Rising unemployment, increased cost of living, around 30% decrease (and increasing) in home values.

unemployment - less than 6% (less than almost all eurozone countries)

inflation - less than 6% - and only for a short period because energy has decreased significantly.

home value should not have any effect on consumer spending. it's stupid that people base their consumption levels on the equity built in their house. it's not much different than saying because i have a 100k credit limit on my credit card i have 100k extra to spend. not many people take that stance. although the consumer always has the out of not paying the home equity loans and letting the bank foreclose, although that is not intelligent.

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Originally posted by jerZ07002 unemployment - less than 6% (less than almost all eurozone countries) inflation - less than 6% - and only for a short period because energy has decreased significantly. home value should not have any effect on consumer spending. it's stupid that people base their consumption levels on the equity built in their house. it's not much different than saying because i have a 100k credit limit on my credit card i have 100k extra to spend. not many people take that stance. although the consumer always has the out of not paying the home equity loans and letting the bank foreclose, although that is not intelligent.

Home values have a significant effect on consumer spending, more so then stocks. The wealth effect, the effect on spending of having assets, is much greater in housing then in stocks. The federal reserve has written some good papers on this if you're interested in getting the full details.

It may be stupid but no one has tried to claim the populus is smart.

The stance is not that they spend 100k more if they have that much credit, it's that they don't hesitate as much when picking up a twinky, a soda, or a CD. The wealth effect is a small percentage of the total wealth. On 100k it might only add 500 - 1000 extra spending a year.

The consumers are in taking thier outs, so much so that the banks have invented a new term, jingle mail. That's when someone mails thier keys instead of a check. The big surprise is that in the past the houseing debt was the first to be managed, then the car, then the heat, then credit cards. Now houses are being walked away from early, especially because in many cases the total debt owed to the bank is more then the value of the house.

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Originally posted by Krypton If I had my way, I would have nationalized Bear Sterns, Freddie Mac, and Fannie Mae.

Going back to my Argentina study, I think this would be the same as defaulting on debt.

If nationalizing happened the shareholders would loose all of thier money. Fannie and Freddie are held by many foriegn governments.

There'd be a lot of people ready to raise hell if this happened

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Originally posted by atbell Going back to my Argentina study, I think this would be the same as defaulting on debt. If nationalizing happened the shareholders would loose all of thier money. Fannie and Freddie are held by many foriegn governments. There'd be a lot of people ready to raise hell if this happened

I wouldn't keep it nationalized. I would split the company up or sell it off to the highest bidder. If the shareholders are stupid enough to ignore the fundamentals and the corrupt risk management, then they deserve to lose all of their money. The CEO and board of directors should be fired without severance packages. No one is entitled to profit in the stock market.

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