Dollar Drops to 15-Year Low Against the Yen

Dollar Drops to 15-Year Low Against the Yen

www.foxnews.com

TOKYO -- The U.S. dollar slid to a 15-year low against the yen Wednesday, dragged down by the anemic recovery in the world's biggest economy.

The greenback was quoted at 84.71 yen in London, the lowest since 1995.

Investors stepped up selling of dollars after the Federal Reserve announced Tuesday additional monetary easing steps in a bid to shore up the flagging U.S. economy. The central bank also downgraded its assessment of the economy's prospects.

(visit the link for the full news article)

Just more negative signs for the US economy, though is this really surprising? As time goes on, we are only going to get little snippets of increasing economic failure. Our system is no longer viable and after decades of consumerism, it is now time to pay the piper. Our current situation transcends any political measures to steer our economy back on track, as it's going to take a revolution in the way our economy is structured before anything even has a chance at getting better, IMO. Those who are prepared are going to be far better off than those caught by surprise.

--airspoon

www.foxnews.com
(visit the link for the full news article)

This is how economics works. Our government leaders refuse to have real economist working in our government.

Hmmm... good luck!

I'm sure glad I live in Australia!

IRM

reply to post by airspoon


The sad thing is most people in America are clueless to the situation. They actually believe the crap the MSM sells them and think we are on the road to recovery. Nothing could be further from the truth. We are heading to a full economic collapse and there really isn't anything we can do to stop it at this point.

There will be a lot of surprised people when it all comes crashing down. This is what I worry about most. Those of us that are prepared will have to deal with the panicked unprepared public.

Originally posted by InfaRedMan
Hmmm... good luck!

I'm sure glad I live in Australia!

IRM

You unaware brah?


We go down, the whole world goes down in flames. We are probably the only nation that can pick up the pieces though and get this thing moving again.

i love the toxic avenger sadly your righr get out of the big cities NOW oh and they just cut 12 billion out of food stamps to pay for teachers in 2014/2015

Originally posted by Yagerbombs

Originally posted by InfaRedMan
Hmmm... good luck!

I'm sure glad I live in Australia!

IRM

You unaware brah?


We go down, the whole world goes down in flames. We are probably the only nation that can pick up the pieces though and get this thing moving again.

Umm.. noooo... hardly... brah!

While your economy is sinking, ours is growing. Australia was the only first world nation to not go into recession with the GFC. I think you overstate America's ability bounce back in relation to other countries. But I understand that you are trying to comfort yourself by saying that... National pride and all that.

IRM

The low dollar will be of great help to US. At least it will make exports cheaper and imports more expensive, which means a higher demand for US goods, and with better money paid to be redistribute back to workers.

It will also mean US will find it more expensive to buy that cheap china ipad imitation, which is also good as it is a fake and will spoil easily, costing more to buy another to replace.

Now is not the best of time to think of luxuries. It is belt tightening times, and helping one another to tide over this period as the mess created by TPTB gets sorted out for a better system to be in place. Hardships may be necessary for us all to learn, but bad times, like good times will not be forever.

Dollar is quite strong now. But Yen has strongest year in history.

Bad economy = strong dollar
Good economy = weak dollar

Originally posted by InfaRedMan

Umm.. noooo... hardly... brah!

While your economy is sinking, ours is growing.

lulz you are unaware!

Australia was the only first world nation to not go into recession with the GFC. I think you overstate America's ability bounce back in relation to other countries. But I understand that you are trying to comfort yourself by saying that... National pride and all that.

IRM

You srsly are clueless as to how the interdependent world economy works. America = 26.5% of the worlds GDP. If the US goes down, the world economy is # = your nations economy = # too. so fail on your part broski.

Originally posted by Yagerbombs

You srsly are clueless as to how the interdependent world economy works. America = 26.5% of the worlds GDP. If the US goes down, the world economy is # = your nations economy = # too. so fail on your part broski.

LOL! Ummm... Okaaaaaaaaaaaaay...... broski?

Enjoy your recession!

IRM

reply to post by SeekerofTruth101

The low dollar will be of great help to US. At least it will make exports cheaper and imports more expensive, which means a higher demand for US goods, and with better money paid to be redistribute back to workers.

Sadly, we have no exports left, relatively speaking and the few that we do have, will be gone soon enough. The better chunk of American exports are on higher value items, such as engines, military and industrial equipment, as opposed to the cheaper products such as soccer balls and TV sets. Eventually, these exports will dry up as well, just as the rest of them have because "third worlders" are becomming much more educated. I think the only thing that Americans will hold on to for export, is corn.

For now, it seems that the American export market is doing well, but as you pointed out, it is only because our dollar is weak..er. Because of our relatively small export market and huge trade deficit, it is hardly worth the price. Unfortunately, it isn't enough to be a benefit to most Americans. If we had any semblance of a manufacturing base and weren't steering a consumer driven economy, it might actually matter.

--airspoon

reply to post by Erasurehead


I know exactly what you mean...when i try to explain/warn whatever to friends and some family members they look at me like i need to be checked into hospital. It seems they are more concerned with the "bachelor" or whatever other crap they are filling their heads with than what is of dire concern. Most people just don't give a crap-I don't really have many friends and the reason for this is I just can't deal with the pathetic public.

reply to post by InfaRedMan


Australia Economy is slowing


I highly doubt your thinking of this with an open mind.By the way,can Australia provide enough food for all of its inhabitants? Just a thought.I know it would be no problem for the people living in the Bush,they are used to it.Cheers!

reply to post by airspoon


I tend to believe the same thing brother. I am prepared to the point of moving already. I have a spot in the hills near Canada,where the bear are brown,and the fishing is excellent. I love America,its too bad greed,control,lies ect.. have put us on a road to fail. Peace....

The biggest scam in history:
www.wtv-zone.com...

As long as these bankers are sucking right off the top there will be no recovery....they will suck up any forward motion.
If you google "federal reserve scam" and read about how the system actually works you'll see.
The fed is creating money out of thin air, and chargeing the US tax payer for it, they are charging the US for its own money.
Which is why the US $ has lost most of its value.

The 6 big banks are front running the Stock market, via hard wired computers, which no one else can do.
The recent financial reform bill now exempts the SEC from public scrutiny...amoung other things...
Oooops, I mean public Screwtiny...
They make it look like the market is working, but obviously with the SEC now being above scrutiny it should be a dead certain tell tale that it isn't.

Anyway, just do a little research...
or not
its up to you.

edit for SandF


[edit on 11-8-2010 by Danbones]

reply to post by airspoon


The real problem why US lost out in the export game is due to greed.

In the past, US was well known for its quality goods. It was expensive, but you only need to buy it once and its almost for life. However, new harvard grads turn executives tried to reinvent the wheel - they would use cheaper labour and cheaper resources to manufacture such products, to hell with quality, so that the huge international masses can afford it at a supposedly lower price, and thus account for the spectacular rise in corporate profits, and they keep their jobs.

Not only that, such defective goods usually need to be replace within months. How many of americans had bought china or indian made products, only to have it last only a few months and then have to replace it? I'll bet many if a poll is taken.

Again, it accounted for a rise in profits. The sheeps were stupid enough to buy such products, very similar with an usury tax, as they eventually ended up paying more.

For example, a pair of doc martens shoe costs $80, and will usually last one for 1 year or more. Buy a china made shoe, which looks the same but inferior made, and it costs only $20 but last only 2 months. Within a year, buying the same china shoes, you would have paid $120.

That's how the executives work out the sums and the reason they fled to China and other 3rd world cheap labour nations.

It is still branding and quality one will be enticed to buy when they are smart enough to work out the sums, which is why companies such as BMW, Prada, Boeing, etc are still successful and amassing profits.

Eventually, the sheeps too will wake up, and those corporations that had been scamming the people will be ignored and left to rot.

Better to wake up now and return back before it's too late, for both corporations and the workers.

Originally posted by InfaRedMan

Originally posted by Yagerbombs

You srsly are clueless as to how the interdependent world economy works. America = 26.5% of the worlds GDP. If the US goes down, the world economy is # = your nations economy = # too. so fail on your part broski.

LOL! Ummm... Okaaaaaaaaaaaaay...... broski?

Enjoy your recession!

IRM

cool story bro

yo....no worries men....
if you bought at 84.77 like me.....see ya