Shrinking Dollar

sailfishJanuary 17, 2005

I've only been interested in this stuff for about 4 months. Perhaps because of my newly aquired interest in the market. What happens is I end up getting "Shanghei'd" into watching this stuff on the CNBC channel and sometimes the topics are enlightening. About the Shrinking dollar. When I first became aware of it my thoughts were "This can't be good" and passed it off to changing times. But I was enlightened the other day when I found out that shrinking the dollars is the PLAN! Greenspan and other financial wizzards have got and are executing a plan to shrink the value of the dollar on pourpose! It has something to do with the twin deficiets. If the value of the dollar falls it makes forign buyers more likely to be interested in buying american products. Hence the GDP grows satisfieng that deficiate. Thats good for somebody.. But what about the poeple that think their home is worth a great sum of money.. but in realization it's just worth a whole bunch of tiny dollars that aint worth sqaut! I'm concerned..Anybody else have an opinion or thoughts?

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chelone

I don't completely understand the manipulation of the dollar. But I DO understand that our nation is so mired in debt that it cripples the economy.

I am one of those, "dyed in the wool" Yankees, who believes that you finance only that which you can comfortably repay over time. You "make due" and you SAVE. That's what built this country.

My opinion of the present state of policy is disgust. We are (in MY opinion) a bloated, lazy, selfish country. We want what we want and we want it right now. We want it so badly we've been willing to relinquish control of our debt to foreign entities. What, really, do we manufacture in this country anymore? textiles, shoes, appliances, cars, steel... give me a break. Our's is essentially a service economy... even the high tech. stuff is leaving our shores.

What do we do when the Treasuries that finance our debt go up at auction and the rest of the world decides they're too risky to buy anymore or they simply don't believe in the "surety" of the United States Treasury? We become just another "banana republic". Check out "Marketplace" (weeknights on NPR) and "Now" (Bill Moyers/David Brancaccio, PBS weekly). You would like several other PBS shows, too. Check your local listings.

    Bookmark   January 17, 2005 at 2:15PM
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