Quote:
Originally Posted by Andrew7dg
I should have put money into the Canadian dollar but who would have thought of it. Whats going on in the US to make the American dollar value lower?
This also happened with the euro a while ago
But Canada!?...
|
What isn't happening over here. First like someone else mentioned, we are spending billions fighting wars in other corners of the world for no apparent reason.
Second, our countries infrastructure is now at the point where it needs a major overhaul, and the is no money being devoted to it. Bridge collapses and major pipeline bursts(like NY or NJ forget which)are inevitable.
Third, the housing market is correcting after the bubble that was created by everyone putting their money into "tangible" items like land or real estate. The real estate bubble was created after the stock market/tech bubble busted in '01.
According to Greenspan, the interest rate cut recently was not the first, and the U.S. economy is just beginning it's slide. We have a solid chance of going straight toward a recession.
This country has three major industries. Auto, Health care, and war. The auto industry is failing, and will never have the market share they once had(in the U.S. or worldwide). Health care is in shambles and is going to take years to fix. So thats where war comes in, the govt knows war is good for economy so they just have one more reason to create wars which in turn create jobs in the U.S.. It is not a long term solution, but thats all they have to work with.
Of course this is a very basic overview of what is going on, but this country has issues. Like all empires, they all peak sometime, I believe we peaked in '01. Now we just have to see where we settle in, or if it just continues to decline.
Quote:
Originally Posted by FattyBoomBatty
Speedfreak - the us economy is still the largest in the world, our GDP is quite high, despite the obvious problems. It looks like the EU is second, but that encompasses several countries so that's cheating, lol. China is headed right for number one though. So, if you are thinking about speculating on money, buy the Chinese Yuan. It's value is rising right now (it's a little over 7 to $1US).
|
Yeah, I know we still lead in that sense. But I was talking about the financial markets. What happened here in the U.S. used to have a much larger impact on the other major financial markets of the world, not so much anymore.