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Another new low for the dollar

mammasanmammasan Posts: 5,656
edited September 2007 in A Moving Train
http://biz.yahoo.com/ap/070928/dollar.html?.v=6
"When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
Post edited by Unknown User on

Comments

  • jlew24asujlew24asu Posts: 10,118
    this is going to continue to happen until the fed's start raising interest rates again. its either weak dollar or higher inflation. pick your poison. the dollar probably wont turn around for 2-3 years I'm thinking
  • mammasanmammasan Posts: 5,656
    jlew24asu wrote:
    this is going to continue to happen until the fed's start raising interest rates again. its either weak dollar or higher inflation. pick your poison. the dollar probably wont turn around for 2-3 years I'm thinking

    What I'm affraid of is that the euro will replace the dollar as the reserve currency or petro currency.
    "When one gets in bed with government, one must expect the diseases it spreads." - Ron Paul
  • RockinInCanadaRockinInCanada Posts: 2,016
    11:40: $CDN 1.0054 $U.S. 0.9946


    Yeah the green-back is hurting I thought my dollar could get to the 0.95 cents range a year ago....but to pass and to ultimately goto $1.05 that shows the weakness of the the green-back..however makes my snowboarding trip down south cheaper :)
  • jlew24asujlew24asu Posts: 10,118
    Rockin'InCanada wrote:
    11:40: $CDN 1.0054 $U.S. 0.9946


    Yeah the green-back is hurting I thought my dollar could get to the 0.95 cents range a year ago....but to pass and to ultimately goto $1.05 that shows the weakness of the the green-back..however makes my snowboarding trip down south cheaper :)

    which is one advantage for the US in having a weak dollar. zero sum game we play :)
  • RockinInCanadaRockinInCanada Posts: 2,016
    jlew24asu wrote:
    which is one advantage for the US in having a weak dollar. zero sum game we play :)

    Right now there is $2 billion lawsuit against car manufacturers in Canada demanding that consumers get back the difference between American/Canadian priced cars...something to due with gouging....I hope it pans it out because I recently bought a new car.....

    I have no problem with a weak American dollar will actually let me go some of the places I have wanted to visit in the USA.....but snowboarding comes first :)
  • TruthmongerTruthmonger Posts: 559
    mammasan wrote:
    What I'm affraid of is that the euro will replace the dollar as the reserve currency or petro currency.

    I think it will happen. Its just a matter of time. The tipping point for doing so was supposed to be $1.40 US for a Euro. Its now beyond that, and I believe the US dollar could slide to $1.50 for a Euro, or more, over the next year or two. A change in the reserve currency will not be a pretty picture for the U.S.. One has to wonder how much the EU would like this to happen ????
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