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173 Comments
- Noxat, on 10/13/2008, -3/+149Well duh. Pounds are heavier.
- frogman54, on 10/13/2008, -1/+42I converted all of my currency into coupons for Red Lobster.
- SteaminTmann, on 10/13/2008, -4/+42Hmm, gas, housing and food prices going down, the dollar gains ground vs the pound, I thought this crisis was supposed to be a bad thing?
- Garofoli, on 10/13/2008, -8/+45Seems the rest of the world may eventually catch up to us and the dollar may be the strongest again.
- charlah, on 10/13/2008, -1/+37Woo! Maybe I will finally be able to afford a to trip to England!
- sesstreets, on 10/13/2008, -1/+30Wait. If we are low and the rest of the world is high. And then all of a sudden the world goes down, this is a good thing?
- jebaird, on 10/13/2008, -1/+28if everyone is racing in the Special Olympics then being first in the 30 meter dash is a good thing
- MrViklund, on 10/13/2008, -4/+26Foot-ball, where you 99% of the time touches the ball with the HANDS!!!
That's handball... European football is the real football. There is no sch thing as soccer. - rrc7cz, on 10/13/2008, -9/+29Saying the dollar will be the strongest again is like saying it will win the Special Olypics 30 meter dash. All of these fiat currencies are being devalued by their central banks in an effort to "injects liquidity"
- strudey, on 10/13/2008, -1/+20That's not how gravity works.
- molotovcat, on 10/13/2008, -3/+20No... it means the US isn't the only country falling. A widespread recession is worse than a contained one. Though, with a world economy, this isn't exactly surprising.
- KnightWhoSaysNi, on 10/13/2008, -0/+17But that's how jokes work. :)
- dsmx, on 10/13/2008, -1/+162 objects of different mass will fall at the same rate unless one has a higher air resistance factor than the other.
- AaronCo, on 10/13/2008, -0/+13The pound is up 300 pips today. Don't trade on stuff like this, "analysts" are usually just ppl trying to sucker you in.
- inactive, on 10/13/2008, -1/+13It's good if you enjoy traveling internationally :)
- apackofmonkeys, on 10/13/2008, -0/+12Depends on which country's tax-crazy politician is standing behind you as you bend to pick up the money.
- bradleyland, on 10/13/2008, -0/+11What you just described is called deflation, which has its own set of problems. Deflation _appears_ to be a good thing to the layman, but it is not. Deflation can have all kinds of negative side effects; particularly for business. Imagine if you contracted to pay $3.00/widget for an essential component in your product, but in a deflationary economy, you'd actually be paying more over time, rather than locking in a competitive rate. Essentially, contracts written to be used in an inflationary economy can bankrupt you in a deflationary economy.
Another major issue that deflation creates is money hoarding. If your money increases in value on its own, then you have less incentive to spend it. Money is the blood of an economy. It must flow for an economy to survive. - inactive, on 10/13/2008, -2/+12If you still had manufacturing jobs, yes.
But that is in fact the strength of the American dollar: other markets depend on it. You fall, we fall.
Even China's been slowed down. Price of gas almost nullifies the advantage of a very low wage workforce (they do have to ship things half way accross the planet), buying power of americans being reduced by almost half means half the money for them. Chinese imports cost about twice what they did only 6 years ago.
If you guys are very lucky, meaning if the crisis persists but without falling into complete collapse, you'll even get your jobs back. - buddyw, on 10/13/2008, -3/+13This dollar spike is only temporary. The excess liquidity (read: fake money) that the fed has pumped into the system is allowing people to liquidate unwanted assets. There is a huge demand for the dollar for this purpose. Unfortunately, this demand is only temporary. In essence, we have a 'dollar bubble.' At some point they are going to transfer their money to new assets, equities, and investments. At that point there will be too much money in the system and the dollar will tank and force the fed to raise rates.
- digitalpencil, on 10/13/2008, -0/+10ok, there was definitely a missing /sarc tag there..
- inactive, on 10/13/2008, -2/+11+1
- Paranoidmarvin, on 10/13/2008, -1/+9...and Scotland and Wales and Northern Ireland!!
- lex0nyc, on 10/13/2008, -1/+8Falling toward being worth only 1.7:1 ... how tragic.
Here's a Mr. Hanky. Blow your nose. - Slade605, on 10/13/2008, -0/+7Reading the article...
- inactive, on 10/13/2008, -0/+6Not as long as there is Big Macs...
- blueomega137, on 10/13/2008, -2/+8Why on earth would you want to!? Although if you must come over I recommend a visit to Hull, it is fantastic.
- gojcaj, on 10/13/2008, -0/+6With the way my money keeps getting sucked up...I'd say ours.
- Bloodwine, on 10/13/2008, -5/+11Thing is, I don't think the economists understand why the dollar is doing better now. Their best guess is that this is temporary and the dollar can't swim against the current for too long and will start dropping as well.
At this point I figure that nobody understands what is going on right now. We're all a bunch of monkeys flinging poo at a wall and seeing what sticks. - yaosio, on 10/13/2008, -0/+5If only there were a way to produce energy for cheap, if only we had some sort of large energy source in the sky that could provide this energy.
- zippy757, on 10/13/2008, -0/+5Doesn't matter then...if everyone 'injects' then the best of the worst currency still will have best value...
- bradleyland, on 10/13/2008, -0/+5Yeah, but what kind of economy runs in a vacuum?
- JasonCox, on 10/13/2008, -0/+5I can do you one better, I converted all mine into Gold Pressed Oil. It's like Gold Pressed Latinum except that Oil is worth more these days).
- whorunbartertwn, on 10/13/2008, -1/+6Yes I heard the Orlando Dollar is doing well.
- blueomega137, on 10/13/2008, -2/+6To make a glorious sweeping statement, American sports are ***** and only the Americans don't see that.
- drunkenoaf, on 10/13/2008, -0/+4There are a lot of morons on Digg, I suppose.
- TheAuditor, on 10/13/2008, -2/+6Gold and lots of it
- cawpin, on 10/13/2008, -0/+4I'd go after the dollar as the pound is a ***** coin that will roll under the vending machine.
- yaosio, on 10/13/2008, -0/+4Buy high and sell low?
- exhume, on 10/13/2008, -1/+5LOSE! IT'S LOSE! NOT "LOOSE"! LOSE! Why can't anyone spell the simplest words anymore!
/AAAAAAAAAAAAAAAAAAAAHHH!!!!!!!!!!!!!!111!!! - CDillion, on 10/13/2008, -2/+6The US is in a deflationary period, which we needed badly after the last several years of runaway inflation.
- miriv365, on 10/13/2008, -0/+4Even that is negated in a vacuum.
- HippyInASuit, on 10/13/2008, -1/+5US productivity is the lowest its been in decades. Don't let coocked numbers like CPI and GDP fool you. We all know the US is a service eceonomy that produces virtually nothing. Once China realizes they're subsidising us to buy the goods they could buy themsselvs we're screwed.
- wampalord, on 10/13/2008, -2/+6If both a pound and a dollar fall to the ground at the same time, which one is worth bending over and picking up?
- ABJ974, on 10/13/2008, -0/+4I must say I agree with you Bloodwine, I don't believe anyone truly knows how this economic mess is going to play out. I do think one thing should be made clear, we and our children will have to continue to deal with this mess for a long time to come. I don't see a anyone truly driving this point home to the people who will be affected by it the most.
- spool5, on 10/13/2008, -1/+5This was W.'s plan all along...GENIUS!
- whorunbartertwn, on 10/13/2008, -0/+4I think he was referring to the "any chance to badmouth anything USA" crowd who seemed to gleefully enjoy claiming the dollar was on it's way to becoming a peso earlier this year and that it somehow indicated the country was crumbling.
- inactive, on 10/13/2008, -0/+3If you guys really want to be scared take a look at this link. The chart is from St. Louis Federal Reserve regarding the actual non-borrowed reserves present in banking system now.
http://research.stlouisfed.org/fred2/series/BOGNON ... - edebolt, on 10/13/2008, -0/+3pound rallied pretty well today. Required the UK govt to buy a bunch of banks... The UK banks are capitalized at about 50% of the US Banks.
- Rotzooi, on 10/13/2008, -1/+4Yeah, they just LOVE American tourists!
- inactive, on 10/13/2008, -2/+5Yeah. And they're totally gonna keep going down, aren't they, brstilson? Soon gas prices will be down to the level they were in the good old days, won't they?
I wouldn't bet on it. -
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