Australian dollar approaches US$1.10

[OOZMAN]

I remember not long ago when it was ~$0.75.

Heck, we're going alright huh?

Ebay time for me....

[IconBasser]

Originally Posted by OOZMAN

I remember not long ago when it was ~$0.75.

Heck, we're going alright huh?

Ebay time for me....

I doubt that it's you guys doing alright. More like we're just sucking big right now. The US dollar index is reaching a low not seen since mid-recession 2008.

[OOZMAN]

Originally Posted by IconBasser

I doubt that it's you guys doing alright. More like we're just sucking big right now. The US dollar index is reaching a low not seen since mid-recession 2008.

True, true.

[jmattbassplaya]

Originally Posted by IconBasser

I doubt that it's you guys doing alright. More like we're just sucking big right now. The US dollar index is reaching a low not seen since mid-recession 2008.

This.

Icon, you're going into economics, right?

[GregC]

It's both, actually. The Aussie dollar's doing very well in general, too. Today, there was a lot of movement after the Fed's outlook announcement.

[jmattbassplaya]

Originally Posted by Metal Matt

Yeah, things aren't lookin' so great for us right now...

IMF announces that China will be no. 1 economy by 2016 - Opa-Ages

BRICS - Wikipedia, the free encyclopedia

Doubt it. Our economy is roughly twice the size of theirs. They'd have to beat out the Japanese and us, which I doubt they have the means to do. Honestly, we need to pull all our production out of China immediately (as in 10 years ago).

[Metal Matt]

Yeah, things aren't lookin' so great for us right now...

The Age of America ends in 2016: IMF predicts the year China's economy will surpass US | Mail Online

BRICS - Wikipedia, the free encyclopedia

Sorry, meant to post a different link for the first one with more info on it.

[Gomeztool]

We've fallen a bit against the CDN dollar too. It's okay, we'll just print more money. We don't have to follow the basic 10th grade rule rule of not spending more than what we make.

[jmattbassplaya]

Originally Posted by Gomeztool

We've fallen a bit against the CDN dollar too. It's okay, we'll just print more money. We don't have to follow the basic 10th grade rule rule of not spending more than what we make.

Yeah, about that lol.

[jmattbassplaya]

BRICS is still nothing compared to NAFTA and the EU. China has a ways to go. I took a class discussing this very topic last semester, and, while things aren't looking amazing for us, it's going to take A LOT for China to completely pass us. In a lot of ways, we control whether or not China becomes the world's leading economic power. We just need to make very smart decisions over these next few years.

[GregC]

Originally Posted by Metal Matt

Yeah, things aren't lookin' so great for us right now...

The Age of America ends in 2016: IMF predicts the year China's economy will surpass US | Mail Online

BRICS - Wikipedia, the free encyclopedia

Sorry, meant to post a different link for the first one with more info on it.

Classic Daily Mail sensationalism. Looking at purchasing power parity alone simply doesn't tell the whole story. There's no question in my mind that China's economy will grow faster than the U.S.'s (or Western Europe's, for that matter) over the next few years due to demographics and the debt overhang. But I highly doubt China becomes the #1 economy in 5 years. It's not going to be all smooth sailing for them, either. Their property market's looking pretty frothy, for one thing--indeed, the IMF says as much. There's also a lot of money being thrown around in general over there by the government, and some of it isn't being doled out too responsibly.

[Simo98]

Originally Posted by IconBasser

I doubt that it's you guys doing alright. More like we're just sucking big right now. The US dollar index is reaching a low not seen since mid-recession 2008.

Actually, it is us. Or more everyone is just sucking. We are considerably stronger against both the GBP and Euro, as well as quite a lot of things.



Unfortunately, it sucks something chronic for an economy based largely on tourism and exports. Not only do overseas tourists stay away, but local tourists go overseas.

[IconBasser]

Originally Posted by jmattbassplaya

This.

Icon, you're going into economics, right?

correct. One year away from an Econ degree

[Deluge Of Sound]

Originally Posted by jmattbassplaya

Honestly, we need to pull all our production out of China immediately (as in 10 years ago).

Yeah, that seems like a legitimate, viable solution.

[MJ5150]

The Australian dollar is surging right now since Kate and her eight have been cruising around the country. MILF power!

-Mike

[Staccato]

Originally Posted by jmattbassplaya

Doubt it. Our economy is roughly twice the size of theirs. They'd have to beat out the Japanese and us, which I doubt they have the means to do. Honestly, we need to pull all our production out of China immediately (as in 10 years ago).

Unless BIG dollar disincentives hit US companies producing products in other countries, a shift to more US production doesn't seem likely.
I'm not a big Trump fan, but he seems to have hit the nail on the head-on this one!

I don't earn-nor do I have to make a big paycheck-regardless of my two college degrees, and experience. However, it appears that most workers
(or their bosses) in large US factories require big bucks + big benefits. This is not competitive in the world market!

[jmattbassplaya]

Originally Posted by Deluge Of Sound

Yeah, that seems like a legitimate, viable solution.

I never said it was. It's what we should of done years ago, but we got greedy and are currently (and will continue to) suffer the consequences.

Originally Posted by Stacatto

Unless BIG dollar disincentives hit US companies producing products in other countries, a shift to more US production doesn't seem likely.
I'm not a big Trump fan, but he seems to have hit the nail on the head-on this one!

I don't earn-nor do I have to make a big paycheck-regardless of my two college degrees, and experience. However, it appears that most workers
(or their bosses) in large US factories require big bucks + big benefits. This is not competitive in the world market!

Unfortunately you're right. And honestly, at this point in time it's not the most viable solution (heck, I'm not even sure if we have the production capabilities to do it even if we wanted to).

That said, we still remain dominant in service commodities, and that's something China will not be able to compete with us in for a long, long time.

[MJ5150]

Originally Posted by jmattbassplaya

.....we still remain dominant in service commodities, and that's something China will not be able to compete with us in for a long, long time.

I dunno about that. The Chinese people at the Chinese restaurant I go to sometimes are way nicer than the USA people at the USA restaurant I go to often.

-Mike

[Deluge Of Sound]

Originally Posted by jmattbassplaya

I never said it was. It's what we should of done years ago, but we got greedy and are currently (and will continue to) suffer the consequences.

Maybe. However, we have positioned ourselves at the top of the global economic hegemony, and I don't see that changing in the near future.


Especially since:

That said, we still remain dominant in service commodities, and that's something China will not be able to compete with us in for a long, long time.

The way I see it, the world's divided like this (in descending order of power and influence):

Service Economies
Industrial Economies
Raw material export economies.


Obviously that's simplified for brevity.

[MatticusMania]

Originally Posted by MJ5150

I dunno about that. The Chinese people at the Chinese restaurant I go to sometimes are way nicer than the USA people at the USA restaurant I go to often.

-Mike

So youre saying that service at The Golden Wok is better than the service at Black Angus?

Makes sense to me!