Election 2004.

[Stew]

The $ has been devaluing due to the US's huuge current account deficit.

[wu_trax]

Originally Posted by Stew

The $ has been devaluing due to the US's huuge current account deficit.

which sooner or later will cause a lot of inflation and global chaos.

edit: oh and here is some link about how he spends money he really doesnt have:
http://www.nytimes.com/2004/11/04/bu...partner=rssnyt

[Perle]

great, my candidate won.
Bush is fantastic, he is funny and incompetent.
I think the next move from the administration should be to abolish the law that prevents a president of serving more than 2 terms.

hooray, bush for life!!!!


USA USA USA!!!!

[Dante Hicks]

Originally Posted by Perle

I think the next move from the administration should be to abolish the law that prevents a president of serving more than 2 terms.

I agree.

[Perle]

after that the administration should bring a new bill to the congress which would exactly determine the succession of president Bush.
The presidency should be limited to the royal family of bush. The next male heirs are Jeb and his son George prescott. Of course by the time George II dies, Jeb would be to old to become king ehhh.... I mean president. So George Prescott will be George III . That would be very fortunate because of Prescotts latino heritage and the fact that by the time he is the ruler, 50% of the US population will be latino.

[arbondigo]

Your previous post was much better than that last one

[Marilyn Manson]

Originally Posted by DavinBrahm

Of course, that is the midwest. I don't dabble in the coasts.

People in the Midwest are generally friendly and affable. What are you doing there?

[Sunday8pm]

Originally Posted by wu_trax

it already did happen to some extend. the euro was worth 80 us-cent a while ago, now its at $1.20. the dollar used to be worth more than 130 yen, now its 105-110 yen. the same happened against most other currencies.
whats the result? usually inflation, but wages cant rise that much, because the us-economy isnt all that competitive when it comes to producing things.
im not sure what will happen, but i doubt that it goes on like this forever. i was really surprised about the recovery in the last year.
that will turn the whole world into chaos. (together with bush crussade against the worlds evil)

I don't think you quite understand what I mean by devaluing, economic xchange rates are just exchange rates not actual devaluing, I suggest you look up what happened to that silly named russian currency, and the Pound back when we decimalised.

[Hicks]

Originally Posted by wu_trax

which sooner or later will cause a lot of inflation and global chaos.

edit: oh and here is some link about how he spends money he really doesnt have:
http://www.nytimes.com/2004/11/04/bu...partner=rssnyt

It's still not a huge problem yet and it would be less so if the Asian countries stopped buying US$ to hold the currency up and allowed it to naturally adjust, I agree though it is increasing in importance. A huge devaluation in the next 5 years can still be avoided if Bush grows a back bone and hammers through the structural changes needed in the US to increase household saving, prepare workers in declining industries to get jobs in the new economy and reduce protectionism as well as applying pressure to it's trading partners to open their own markets to US service exports.

[Hicks]

Originally Posted by Sunday8pm

I don't think you quite understand what I mean by devaluing, economic xchange rates are just exchange rates not actual devaluing, I suggest you look up what happened to that silly named russian currency, and the Pound back when we decimalised.

What on Earth are you on about ? The problem in Russian wasn't to do with the devaluation itself, it was to do with the crisis surrounding it, the problem lay with pegged exchange rates something the US doesn't have to worry about, speculators lost confidence in the Russia because of political instability and lax fiscal policy (Despite lax fiscal policy capital markets still see the US as a safe haven) they began to expect a devaluation of the Russian currency in relation to the US$ meaning they would lose money, they began to flee fuelling the situation further and making a devaluation more likely, the government refused to devalue and began to run down it's reserves making the situation worse and when the devaluation eventually came it was huge. A natural devaluation in the value of the US dollar is completely different, if the dollar were devalued it would allow US goods to be more competitive in relation to foreign goods and close the deficit, much of the debt is also held in US$ so it would then be worth less. However, a devaluation of the US$ wouldn't cure the deficit problem despite what the media seems to think it would just put a cork in it for a short while and maybe give them time to deal with the structural issues. As wu_tax says any devaluation needs to be slow and steady as it will expand demand fuelling inflation which the Fed would try and contain by increasing interest rates rapidly, this in the biggest economy in the world would cause havoc in financial markets. Also don’t be such a condescending twat especially when you’re wrong.

[wu_trax]

Originally Posted by Sunday8pm

I don't think you quite understand what I mean by devaluing, economic xchange rates are just exchange rates not actual devaluing, I suggest you look up what happened to that silly named russian currency, and the Pound back when we decimalised.

if the exchange rates fall the currency sooner or later devalues, especially in a country that imports as much as the usa. the shops that sell the imported goods have to rise their prices which means inflation (and that is what i usually understand as devalueing)

[wu_trax]

Originally Posted by Hicks

It's still not a huge problem yet and it would be less so if the Asian countries stopped buying US$ to hold the currency up and allowed it to naturally adjust, I agree though it is increasing in importance. A huge devaluation in the next 5 years can still be avoided if Bush grows a back bone and hammers through the structural changes needed in the US to increase household saving, prepare workers in declining industries to get jobs in the new economy and reduce protectionism as well as applying pressure to it's trading partners to open their own markets to US service exports.

if the asian centralbanks would stop buying us-bonds the usa would get into trouble aswell. bush spends too much money, so to make people lend him money interest rates would have to rise, which is also bad for the economy.
it all sounds great in theory, but i doubt the usa can get a balanced account deficit in the next few years. so far the fallen dollar didnt help them much to increase their exports.

[HobbieRogue4]

Originally Posted by Perle

Bush is fantastic, he is funny and incompetent.

Christ on a bike...

Personally, I'm wondering what happened to the anti-missile defense system initiative.

[Hicks]

All economics sounds great in theory

[Texan]

Originally Posted by HobbieRogue4

Personally, I'm wondering what happened to the anti-missile defense system initiative.

If you mean the missile defense system, it is ongoing. 5 interceptor missiles are at Fort Greely, Alaska with a 6th to be installed this month. More interceptors will be placed in California by the end of the year.

Ground-based missile defense is one of the projects I am involved with.

The system may or may not work, but it pays for about 3 percent of my annual salary.

[Flayer]

http://www.sorryeverybody.com/

[HobbieRogue4]

Originally Posted by Texan

If you mean the missile defense system, it is ongoing. 5 interceptor missiles are at Fort Greely, Alaska with a 6th to be installed this month. More interceptors will be placed in California by the end of the year.

Ground-based missile defense is one of the projects I am involved with.

The system may or may not work, but it pays for about 3 percent of my annual salary.

6. Wow.

Did they upgrade the flight package after the Vandenberg fiasco?

[Boogster]

There are an awful lot more loud, unfriendly people on this board than I once thought, especially when America is the subject of conversation.

[Texan]

Originally Posted by HobbieRogue4

6. Wow.

Did they upgrade the flight package after the Vandenberg fiasco?

I have no idea. We just design the facilities for the program. We have nothing to do with the interceptors.