Article

2009-10-17 Economy

Dollar May Drop 20% More, Harvard's Ferguson Says

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Posted by Fred 2009-10-17 00:00|| || Front Page|| [11127 views ] Top

#1 I wonder what that will do to the price of imported oil in the US.

Posted by Anguper Hupomosing9418 2009-10-17 09:50|| 2009-10-17 09:50|| Front Page Top

#2 Multiply by 1.2 ...

Posted by Steve White 2009-10-17 11:20|| 2009-10-17 11:20|| Front Page Top

#3 You should see currency movements as changes in pay.

If we paid everyone in a country less then they'd be employed more too.

This is exactly the same thing.

Posted by Bright Pebbles 2009-10-17 12:51|| 2009-10-17 12:51|| Front Page Top

#4 Thats the deal right there, by the time a business pays its Federal Unemployment Tax (FUTA) and any state equivilants, a business could hire. Instead that money goes to people whose idea of going to work is to make 3 applications per month and purposefully blowing the (required by law) interview, wasting more time/money. Bump minimum wages up, crazy ever changing fed withholding (more time/money keeping up), and small business gets screwed if they are lucky enough to earn more than $250,000 today dollars.

Of course, many of those fast food restaurants are actually small businesses which more plus $250k a month for sure. Big revenue for gov gonna pay for health care and ponies, but imagine with people not wanting to spend money on a damned sandwich, fast food tax, sugar tax, cheese and beef and bacon tax, additional gas (transportation) tax, carbon (air) tax. Cities and States will see a drop in sales tax revenue and scratch asses, IRS bean counters will raise their hands and say where has all the revenue gone?! And at least one person will raise their middle finger and say, "Right here!"

Posted by swksvolFF 2009-10-17 13:13|| 2009-10-17 13:13|| Front Page Top

#5 Saw a guy being interviewed on CNBC who said Bambi's economic brain trust wants to weaken the dollar in order to turn America into an export-based economy vs. a consumption-based one. Since we've already shipped nearly all of our manufacturing capacity to China, what the hell we're supposed to export remained unsaid.

My own opinion - debasing the dollar as a deliberate policy doesn't have a damned thing to do with improving the economy, and everything to do with the Soros/Obama objective of creating a weakened America that has zero influence on the world stage.

Posted by Ricky bin Ricardo (Abu Babaloo) 2009-10-17 16:18|| 2009-10-17 16:18|| Front Page Top

#6 Who would take investment advice from Harvard University?

Posted by Jumbo Slinerong5015 2009-10-17 18:13|| 2009-10-17 18:13|| Front Page Top

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