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Thread: Dollar loses reserve status to yen & euro

  1. #61
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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by donsutherland1 View Post
    Short-term and long-term factors are weighing on the dollar. Some factors include:


    That was interesting, I've never heard health care spending described as a bubble.

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    Re: Dollar loses reserve status to yen & euro

    Im sure privitizing gains and making losses social doesn't hurt the dollar.

    [ame=http://www.liveleak.com/view?i=43c_1255579308]LiveLeak.com - The Wall Street Bankers Privatized Their Profits And Socialized Their Losses[/ame]
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    Re: Dollar loses reserve status to yen & euro

    The dollar has been in the crapper for days. In high school the teachers were having problems because it kept weakening and they were paid in dollars, luckier people got paid in euros for their work.

    This has been an oncoming trend.

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    Re: Dollar loses reserve status to yen & euro

    [ame="http://www.youtube.com/watch?v=Ek7zc0lJxbM"]YouTube - Goldman Sachs Bribed Senate To Pass Bailout Bill[/ame]


    bonuses-put-goldman-in-public-relations-bind: Personal Finance News from Yahoo! Finance (700,000$ bonus for all employees? DAMN)

    A celebrated Goldman Sachs partner, Gus Levy, coined the maxim that long defined the bank, the savviest and most influential firm on Wall Street: “Greedy, but long-term greedy.”

    But these days that old dictum is being truncated to just “greedy” by some Goldman critics. While many ordinary Americans are still waiting for an economic recovery, Goldman and its employees are enjoying one of the richest periods in the bank’s 140-year history.

    Goldman executives are perplexed by the resentment directed at their bank and contend the criticism is unjustified. But they find themselves in the uncomfortable position of defending Goldman’s blowout profits and the outsize paydays that are the hallmark of its success.
    Last edited by dirtpoorchris; 10-16-09 at 07:39 PM.
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    Re: Dollar loses reserve status to yen & euro

    Billionaire among 6 nabbed in inside trading case - Yahoo! Finance



    NEW YORK (AP) -- One of America's wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider trading case that authorities say generated more than $25 million in illegal profits and was a wake-up call for Wall Street.

    Raj Rajaratnam, a portfolio manager for Galleon Group, a hedge fund with up to $7 billion in assets under management, was accused of conspiring with others to use insider information to trade securities in several publicly traded companies, including Google Inc.
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    Re: Dollar loses reserve status to yen & euro

    From [ame=http://en.wikipedia.org/wiki/Reserve_currency]this page[/ame], "For this reason, the U.S. dollar is said to have "reserve-currency status," making it somewhat easier for the United States to run higher trade deficits"

    At least one good thing...
    Maybe in the next 10 years someone will realize that it's NOT a good thing to have a $1.5+ trillion deficit? I live to see the day

    Note that I only have a very rudimentary knowledge of economics, if the quote I posted is complete BS, please call me out on it.

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    madoff money

    Quote Originally Posted by Lord Voldemort View Post
    From this page, "For this reason, the U.S. dollar is said to have "reserve-currency status," making it somewhat easier for the United States to run higher trade deficits"

    At least one good thing...
    Maybe in the next 10 years someone will realize that it's NOT a good thing to have a $1.5+ trillion deficit? I live to see the day

    Note that I only have a very rudimentary knowledge of economics, if the quote I posted is complete BS, please call me out on it.
    The US gets to export part of their inflation. Cheap products from China, with its undervalued yuan, do the rest. Now guess what will happen if this comes to an end.
    My tiny lil country annually invests about $100-150 billion in the US. The US coughs, we throw up. I wouldn't want to live in a world without dollar denominated assets...
    Last edited by Djoop; 10-16-09 at 09:27 PM.

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    Re: Dollar loses reserve status to yen & euro

    What does this thread tell us?

    When a Republican president oversaw the fiscally liberal policies that got us here, including the largest decline in the dollar's value in years, he deserved absolutely no criticism at all. Notice neither Goobieman nor Harsaw posted a single link to any of their posts in 2006 criticizing Bush for the massive dollar decline.

    When a Democrat inheriting a near doubling of the national debt and spends more on top of that has the roosters coming home from the bad fiscal policies of the last 8 years, he's the only one to blame.
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    Re: Dollar loses reserve status to yen & euro

    What I'd like to know if why so many people are viewing a relative decline in the value of the dollar as such a tragedy.
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    Re: Dollar loses reserve status to yen & euro

    Quote Originally Posted by Kandahar View Post
    What I'd like to know if why so many people are viewing a relative decline in the value of the dollar as such a tragedy.
    Because they see it as a "loss of face" it seems. If you notice there are very very few economic arguments in this thread, and much more along partisan political lines and conspiracy theories.
    PeteEU

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