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Dollar is going down... [message #60476] Sat, 03 January 2004 23:18 Go to next message
IRON FART
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Registered: September 2003
Location: LOS ANGELES
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General (1 Star)
I checked on xe.com/ucc the other day so see how many dollars I could get for my English money (British Pounds, GBP) And it was like ~1.76 dollars for one pound.

I check again 2 days later (few mins ago) to see that it has already gone up 3 cents. (~$1.79/Pound)

A few years ago It was like $1.2, less that that even, per Pound.

I was surprised to see this dramatic change, really.

For those who don't know, this is because of heavy spending by the government. So the US economy has gotten worse. And if you didn't know that last fact, you probably didn't understand why so many people oppose bush.

*Runs to cash in*


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Dollar is going down... [message #60480] Sat, 03 January 2004 23:53 Go to previous messageGo to next message
Nodbugger is currently offline  Nodbugger
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Registered: February 2003
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Colonel
I thought spending money kept the economy up, any way we just go to Canada and get their money.

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Dollar is going down... [message #60566] Sun, 04 January 2004 14:38 Go to previous messageGo to next message
Javaxcx
Messages: 1943
Registered: February 2003
Location: Canada, eh?
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General (1 Star)

Pfft, don't be stupid. Our Canadian prices are fine tuned so you Americans DON'T get rich off us.


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Dollar is going down... [message #60570] Sun, 04 January 2004 15:16 Go to previous messageGo to next message
Jelly is currently offline  Jelly
Messages: 67
Registered: October 2003
Location: Canada
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Recruit
He is very right. Actually us canadians have been going down into America more and more since our dollar is not far from your own. Just so we can shop at some of the stores we do not have.
Dollar is going down... [message #60610] Sun, 04 January 2004 19:03 Go to previous messageGo to next message
MrBob is currently offline  MrBob
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Registered: February 2003
Location: Virginia, USA
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Commander

The reason the dollar is going down is because of inflation. The government wants to pay for stuff and prints/coins money (as if taxes aren't enough). And when they inflate, there's more money. And with more money, there is less value:

^ The amount of money increases.

V Prices go down

The reason prices go down is because businesses know the money is worth less, but the government forces people to treat the paper as a real dollar. So since they can't say the money is less than it's actual value, they simply raise the price.

So anyway, the reason the US dollar's value is going down is because of inflation. And since the money is worth less than it's said to be, people get rid of the bad money and keep the good money (Gresham's Law). That's why people always spend modern moeny and keep things like gold and silver certificates.

This Ecomonics lesson was brought to you by Mr. Bob. Wink


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Dollar is going down... [message #60819] Tue, 06 January 2004 15:30 Go to previous messageGo to next message
Hydra is currently offline  Hydra
Messages: 827
Registered: September 2003
Location: Atlanta, GA
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Colonel
IRON-FART

I checked on xe.com/ucc the other day so see how many dollars I could get for my English money (British Pounds, GBP) And it was like ~1.76 dollars for one pound.

I check again 2 days later (few mins ago) to see that it has already gone up 3 cents. (~$1.79/Pound)

A few years ago It was like $1.2, less that that even, per Pound.

I was surprised to see this dramatic change, really.

For those who don't know, this is because of heavy spending by the government. So the US economy has gotten worse. And if you didn't know that last fact, you probably didn't understand why so many people oppose bush.

*Runs to cash in*


Index 2002 close 2003 close % change
Dow Jones Industrials 8341.63 10453.92 +25.3%
S&P 500 879.82 1111.92 +26.4%
Nasdaq 1335.51 2003.37 +50.0%

Economy getting worse, huh? Then why did the Dow Jones increase by 25.3% and the Nasdaq by 50.0%? Why did the overall size of the economy grow by about 8% or 200-300,000 new jobs were created? Something tells me the Democrats won't be using the slogan "It's the economy, stupid!" this year.

MrBob

So anyway, the reason the US dollar's value is going down is because of inflation. And since the money is worth less than it's said to be, people get rid of the bad money and keep the good money (Gresham's Law). That's why people always spend modern moeny and keep things like gold and silver certificates.

That is part of why the dollar goes down against foreign currencies, but the main reason the dollar goes down is to promote US trade with foreign businesses. It becomes more costly to US businesses to import than to export, and foreign businesses find out they can get more for their currency value. This is done when the economy does not show growth for longer than two consecutive fiscal quarters (the technical definition of a recession) to promote trade with other countries so businesses would produce more goods and make more of a profit instead of buying foreign goods.


Walter Keith Koester: September 22, 1962 - March 15, 2005
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Dollar is going down... [message #61180] Fri, 09 January 2004 07:57 Go to previous message
NHJ BV is currently offline  NHJ BV
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Registered: February 2003
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Colonel
€1,- is about $1,27 now...while when the Euro fist came around it was 1:1 or less.
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