Three Cheers for the Euro!!

[hagbard]

The Spectator - What's that in Euros?

 

[ElFenix]

But in choosing to fight America on the issue of currency, the very instrument of US economic hegemony, Europe risks driving a wedge between the two continents. Perhaps that is what the architects of the euro wanted all along.

interesting

 

[BaliBabyDoc]

Interesting article . . . unfortunately the policy foibles that are prompting forces to align against the US may not be enough to prevent a 2nd Bush term. Furthermore, the true toll of more Bush may not become apparent until well after he leaves office. At this point keeping Americans scared for their security and promising a better economy tomorrow is good enough for close to half the population . . . most of that cohort doesn't read The Spectator or anything like it.

 

[hagbard]

Originally posted by: BaliBabyDoc
Interesting article . . . unfortunately the policy foibles that are prompting forces to align against the US may not be enough to prevent a 2nd Bush term. Furthermore, the true toll of more Bush may not become apparent until well after he leaves office. At this point keeping Americans scared for their security and promising a better economy tomorrow is good enough for close to half the population . . . most of that cohort doesn't read The Spectator or anything like it.

Doesn't matter much if King George II is re-elected or not, you think the Democrats will be any better? Didn't see the Democrats standing in the way of Bush's empire building efforts, in fact, some are even more commited to the idea than he is. Nope, I'm looking forward to the switch to the Euro for the reasons cited in the article.

 

[BaliBabyDoc]

I disagree. America certainly needs a change in attitude but the last thing we need is help in wrecking the global economy. The world needs America and we need the world. I am not a Democrat but most of them at least talk about fiscally-responsible domestic policy and foreign policy that emphasizes the needs (and desires) of the collective. Liberalized trade laws (that respect human rights and are reasonably just) are good for everyone in the long run. Currency ploys should be discouraged b/c they lead to long term instability. Switching over to the euro will solve neither . . . and will likely exacerbate our current problems.

 

[Dari]

any economist would laugh at this article. The dollar isn't the world's number one reserve currency simply because of the US's economic strength. Global security is another strong factor. And gobal security is something the Europeans cannot vouch for.

But a strong euro would have huge impacts on the global economy. The sad part is Europe would suffer the most. In effect, a strong Euro would take a lot of the burden of the dollar. But the problem here is most of that burden is already being carried by the Euro. More would be catastrophic for Europe's economy. It's our Asian trading partners that need to carry more of the currency burden. They are not doing so. This is bad for Europe and America and both entity needs to put more pressure on the Asians.

As for the political ramifications of a strong euro, I would welcome it because it would force american households, governments, and companies to reduce their debts. Competition is good and healthy.

With all this being said, any country that digresses from our "strong dollar" policy will meet a powerful enemy in Washington. War is not the only weaponry in our vast arsenal. This country has the capability to bring about the collapse of entire regions and continents. Caveat Emptor.

 

[hagbard]

Originally posted by: Dari
With all this being said, any country that digresses from our "strong dollar" policy will meet a powerful enemy in Washington. War is not the only weaponry in our vast arsenal. This country has the capability to bring about the collapse of entire regions and continents. Caveat Emptor.

As if the world needs any more motivation to bring the US down

 

[BaliBabyDoc]

With all this being said, any country that digresses from our "strong dollar" policy will meet a powerful enemy in Washington. War is not the only weaponry in our vast arsenal. This country has the capability to bring about the collapse of entire regions and continents. Caveat Emptor.

A brilliant example of what's wrong with America. #1 . . . the US has digressed from the strong dollar policy. The US is not encouraging China to allow the yuan to float b/c it believes in free markets. We are doing it so US manufacturing/goods are more competitive. Various protectionist actions/tariffs instituted during the Bush Regime have been mostly geopolitical NOT rational market reform initiatives. The "weaker dollar" policy may have contributed to O'Neill's sacking . . . although he did give this gem . . .

"We are not pursuing, as often said, a policy of a strong dollar. In my opinion, a strong dollar is the result of a strong economy."

Maybe that comment hit too close to home for some.

Any country intent upon imposing it's will by force will find opposition in every nation of character. Only a tool (or bully) resorts to threats when their entreaties are rejected. America has too much credibility to stoop to such a level . . . well at least we used to have too much credibility.

 

[Dari]

Any country intent upon imposing it's will by force will find opposition in every nation of character. Only a tool (or bully) resorts to threats when their entreaties are rejected. America has too much credibility to stoop to such a level . . . well at least we used to have too much credibility.

You don't really believe what you just wrote, do you? I really hope not.

While I am for all things free-market/unabashed capitalism, self-interest/greed is an innate part of human nature and it rears its (ugly) head everywhere.

 

[Zebo]

I agree with dari:Q

Without the guns to back it up europe is pissing in the wind because they are always vulnerable and can't "negotiate" as good of terms on resources. They may want to cut the value of the euro right now because thier goods are uncompetitive on the open maket.

 

[Zebo]

Originally posted by: BaliBabyDoc

With all this being said, any country that digresses from our "strong dollar" policy will meet a powerful enemy in Washington. War is not the only weaponry in our vast arsenal. This country has the capability to bring about the collapse of entire regions and continents. Caveat Emptor.

A brilliant example of what's wrong with America. #1 . . . the US has digressed from the strong dollar policy. The US is not encouraging China to allow the yuan to float b/c it believes in free markets. We are doing it so US manufacturing/goods are more competitive. Various protectionist actions/tariffs instituted during the Bush Regime have been mostly geopolitical NOT rational market reform initiatives. The "weaker dollar" policy may have contributed to O'Neill's sacking . . . although he did give this gem . . .

"We are not pursuing, as often said, a policy of a strong dollar. In my opinion, a strong dollar is the result of a strong economy."

Maybe that comment hit too close to home for some.

Any country intent upon imposing it's will by force will find opposition in every nation of character. Only a tool (or bully) resorts to threats when their entreaties are rejected. America has too much credibility to stoop to such a level . . . well at least we used to have too much credibility.

You think we do it by force alone? We spend billions of american tax dollars every year to elect foreign leaders to our liking. Our bankers forge powerful on way dependant relationships with top movers in foreign countries who control or have tremendous influence leadership in those countries. Why do you think SA is escaping unscathed from 9-11? They are our boys. If they even dreamt about whoring out with euros I'm sure it would be fairly easy to find justification for regime change over there.

Text

 

[BaliBabyDoc]

And you people wonder why American foreign policy is often disparaged?!

 

[charrison]

Originally posted by: BaliBabyDoc
And you people wonder why American foreign policy is often disparaged?!

And other countries do not act in their self interest?

 

[Dari]

Originally posted by: charrison

Originally posted by: BaliBabyDoc
And you people wonder why American foreign policy is often disparaged?!

And other countries do not act in their self interest?

I was just about to ask him the same question. I honestly don't know where he gets his reasonings for such dubious questions. Do tell.

 

[Zebo]

Originally posted by: BaliBabyDoc
And you people wonder why American foreign policy is often disparaged?!

Face it bali the lifestyle we lead as americans rich, with goodies, a throw away mentality is made possible by our hegemony. Would you want to trade places with say China? Whos economy would collapse tomorrow and mass riots would insue if America stopped buying thier goods?


The reason they "loan" us money is they can't afford not to. They are addicted to the dollar and what it gives them peace, oil, etc. And the scariest thing for them is if our dollar collaspes and we decided to spark up all those factories which have been shut down and do it ouselves.

I'm pretty greedy though I think we should do that anyway so all americans are employed. Work and sense of accomplishment is good for the soul.

 

[sandorski]

There was a thread a few months back that discussed this very issue($US vs Euro) and the ramifications of the $US losing its' current position. The US economy would be in a very precarious position if it happened.

 

[Dari]

Originally posted by: sandorski
There was a thread a few months back that discussed this very issue($US vs Euro) and the ramifications of the $US losing its' current position. The US economy would be in a very precarious position if it happened.

This statement shows how little you understand about finance and economics. It would be a good thing for the dollar to decline. For one thing, it would force everyone, from the President of the United States to Joe Sixpack to rein in spending, reduce debt and start balancing their respective budget.

 

[Piano Man]

How long till you think there will be a single, worldwide currency?

 

[SuperTool]

Originally posted by: Dari

Originally posted by: sandorski
There was a thread a few months back that discussed this very issue($US vs Euro) and the ramifications of the $US losing its' current position. The US economy would be in a very precarious position if it happened.

This statement shows how little you understand about finance and economics. It would be a good thing for the dollar to decline. For one thing, it would force everyone, from the President of the United States to Joe Sixpack to rein in spending, reduce debt and start balancing their respective budget.

Nothing is going to force Bush to reign in spending or deficits.

 

[Dari]

Originally posted by: SuperTool

Originally posted by: Dari

Originally posted by: sandorski
There was a thread a few months back that discussed this very issue($US vs Euro) and the ramifications of the $US losing its' current position. The US economy would be in a very precarious position if it happened.

This statement shows how little you understand about finance and economics. It would be a good thing for the dollar to decline. For one thing, it would force everyone, from the President of the United States to Joe Sixpack to rein in spending, reduce debt and start balancing their respective budget.

Nothing is going to force Bush to reign in spending or deficits.

If he's responsible he better. I hope he doesn't start anything major until the deficit goes below 4%. 6% is approaching ridiculous. It won't be sustainable.

 

[SuperTool]

Originally posted by: Dari

Originally posted by: SuperTool

Originally posted by: Dari

Originally posted by: sandorski
There was a thread a few months back that discussed this very issue($US vs Euro) and the ramifications of the $US losing its' current position. The US economy would be in a very precarious position if it happened.

This statement shows how little you understand about finance and economics. It would be a good thing for the dollar to decline. For one thing, it would force everyone, from the President of the United States to Joe Sixpack to rein in spending, reduce debt and start balancing their respective budget.

Nothing is going to force Bush to reign in spending or deficits.

If he's responsible he better. I hope he doesn't start anything major until the deficit goes below 4%. 6% is approaching ridiculous. It won't be sustainable.

He has no other economic plan. It's all based on running huge deficits to stimulate the economy.
I wonder if I can ask my bank to keep my money in Euros or do I need to buy a foreign currency fund.

 

[sandorski]

Originally posted by: Dari

Originally posted by: SuperTool

Originally posted by: Dari

Originally posted by: sandorski
There was a thread a few months back that discussed this very issue($US vs Euro) and the ramifications of the $US losing its' current position. The US economy would be in a very precarious position if it happened.

This statement shows how little you understand about finance and economics. It would be a good thing for the dollar to decline. For one thing, it would force everyone, from the President of the United States to Joe Sixpack to rein in spending, reduce debt and start balancing their respective budget.

Nothing is going to force Bush to reign in spending or deficits.

If he's responsible he better. I hope he doesn't start anything major until the deficit goes below 4%. 6% is approaching ridiculous. It won't be sustainable.

You still not sure if he's responsible or not?

Re: finance and economics. The debts, public and private, certainly need to decline as well as the Trade Deficit, which is a huge problem in its' own right. These things should be addressed whatever the value of the $, by allowing the $ to decline in order to force Debt Reduction is to make a bad problem worse. When Bush became President, he inherited a more or less balanced budget, between the Tax Cuts, Iraq War(which were choices and the largest contributors to the Deficit), and the aftermath of 9/11(not a choice) the US now has the largest Deficits in at least 10 years and Debt ever. The Bush admin is going in the opposite direction you suggest.