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Pound for pound or pound for dollar ?

Old 04-20-2007, 06:56 AM
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bahamadude
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Default Pound for pound or pound for dollar ?


1USD = 0.499032GBP

Whats causing this ?

Is the US econmy currently not good ?

Hows the realestate market ?

Is the war in Iraq affecting the economy ?



Old 04-20-2007, 10:29 AM
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Hossfly
 
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Default RE: Pound for pound or pound for dollar ?

Over a year ago, Red China separated their currency from valuation against the US dollar. They have a trillion US dollars in reserve. Their demand for oil is approaching the US and is forecast to exceed the US within the next 10 years.

Today it takes $1.31 US to buy one Eurodollar.

Fuel -- gasoline, diesel, natural gas, propane, -- are skyrocketing daily in the US, sending cost-of-living out of sight for most working people. Those increased fuel costs are really hitting home because of the increased commuting distances of expanding suburbia.
Credit cards with 15 -22% interest all maxed out, because of young people growing up with the "I have to have it now and it must be better than theirs" mentality taught by their parents.
Homes bought with one consideration: maximum payable monthly payment and no thoughts given to the annual monstrous increases in taxes and insurance, creating escalating foreclosure rates.

Could those things just could have sumpin' to do with it all. [:-] Oh Well, _ell what does an old country idiot like me know?


Now my mammy and daddy all ways said that one could never spend one's self rich. So's I just buys what I can pays fer, and while I don'ts have a lots, I gots 'nuff ta pays my way longer than I can live and live with what ever I wants as long as I wants reasonably and not trys to outdo the neighbors which are a lot further away than I can reach.
Old 04-20-2007, 02:30 PM
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Kevinator9
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Default RE: Pound for pound or pound for dollar ?

The NZ dollar has risen alot. So have many things also, I remember when I was about 7 or 8 the fuel was about .80c a litre, now it is $1.60c a litre (NZD). That has doubled in 6 years!
Old 04-20-2007, 06:48 PM
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bahamadude
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Default RE: Pound for pound or pound for dollar ?

Red China separated their currency from valuation against the US dollar ??
Explain that please
Old 04-21-2007, 10:23 AM
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ClemenTang
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Default RE: Pound for pound or pound for dollar ?

If 1USD = 10RMB will make you guys happier, by all means! Well, except war.

Clement
Old 04-28-2007, 12:16 AM
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ClemenTang
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Default RE: Pound for pound or pound for dollar ?

It was used to be 1 USD = 8 RMB. You guys complained about it and it's now 1USD = 7.7 RMB. A strong currency doesn't necessarily mean strong economy. If trades doesn't measure up to it you end up with a deficit. So sometimes it'll be good to have a lower exchange rate for yourself (or other countries having a high exchange rate) but again you need to buy from others too and it needs to be comensurate with your economy. When RMB was low you bought everything from China; now RMB is higher so maybe you're buying less so as to reduce trade deficit and save some domestic jobs.

And for the record China is alot more capitalistic than many developed countries in the west. Don't make it sound like you're ready to fuel your ICBM's there're all too many gunheads out there.

Clement

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