I generally try not to get political on the blog I’ve only done it once before but things are getting too serious for me to keep my big mouth shut any longer. I had a big long speech planned but then taught screw it everything I want to say is said in the video below…
America is 9 Trillion in debt & borrowing 3 billion a day to stay liquid. NO economy & NO currency can withstand this & yet only one politician is talking about it.
The regular guy on the street is getting screwed and wall street is still raking in the cash. (‘For The Time Being’)
You’re probably thinking “Ya but your from Ireland how does this effect you?”
Well American Monetary Policy effects the entire world & as an Internet Marketer I make all my earnings in dollars & every month I see dollars becoming less and less valuable.
I realise I am opening myself up to criticism & probably risk loosing subscribers by doing this but I don’t care just please watch the video below & please leave your comments. I am very passionate about this & I am genuinely very interested to see how all of you feel about this too.
Please leave your comments below.
No related posts.
I agree wholeheartedly with you. Living in Australia, the value of the US dollar has decreased dramatically, and that of course means that any money I earn in US dollars (which is most of it) isn’t worth as much to me now as when I started looking for ways to earn money on the web. The American government needs to take a long, hard look at itself and get its act into gear before it is too late.
Regards
Christine
I agree with you Mark it is worrisome. But we got ourselves here and we just have to put one step in front of another and go forward as individuals. And do the best we can each day as Internet Marketers. Good Luck and keep up the great work…your blog really looks good…like that logo!
I agree, im not earning as much now either.
Ryan
That was worth watching!
Although I support government funding for many social programs that help those in need, you can’t argue with the fact that our spending is out of control (especially when it comes to the war).
I like Ron Paul…
If he gets the nomination, I will consider jumping the isle and giving him my support.
Ryan
I`m voting for this guy.He`s seems like the only one who is willing to realize that government has dug us into a deep hole.The dollar is worth less and less everyday.
For 400+ years we raped our land. Now, we rape ourselves.
My opinions about the policies of this government would be socially unacceptable. Totally Corrupt is an understatement. We are going the way of the Romans and people had better prepare to hang on!
Hi Mark,
Thanks for the information, it’s both interesting and very alarming! For people working online especially for the ones like me who’s just starting, this is a big thing.
The ideas of Cong. Ron Paul are (at least for me) very sensitive in a sense that the authorities should really have to take a good look at it before probably doing something.
Sir,
Mark i am an american.i know all in that to be true.
It is one of many ill in these united states that makes ashamed to be american.
What was touched on in that video is only the tip of the iceburg i believe.I know without a doubt after seeing this report that our government if left to go as it is will become a socialist type government.
I am a patrotic and proud america.But i am proud of heriatage.Our fore fathers are spinning in their graves.
Respectfully,
Tad L. Clark
Hello Mark,
First: Congratulations, it is a very fine blog; also we begin as we can, later we continue as we must!
Second: Why worry? I live outside USA, and the dollar problems are similar to us.
I believe the money problem it is the last problem and the littlest one. Going to the dollar’s problem, the dollar’s problem means to think in the entire worl philosophy. The universe manage simple laws of surviving. It is impossible not to have poles that equilibrate to survive: good and bad, Yin and Yang, positive and negative. We cannot afford a world with only one though; each day there are more poor and minus riches, but the poor are each day more poor and the riches more rich. This system must explode in a moment.
I believe it is possible yet to change things, every one needs to change his own mind understanding the danger where we are going.
to tell your though to ather maybe a good starting!
Umberto.
Hi Mark,
Sorry but I couldn’t bear to watch the entire video. Once they started talking about the “war”, I knew the movie was just propaganda. The fact is we have been here before. There was a time when the dollar was £1 : $2.50…so we still have some way to go. From what I understand it suits the US Government to have a weaker dollar. I know you are Irish, but I am English and we have one of the strongest currencies in the world…or so it would seem. We too are living on a huge debt mountain created by unrestricted spending and our “beloved” government have much to do with this, squandering billions in the public sector….and worse still we have no underbelly either. Mr Bean sold ALL our billions of gold reserves years ago, at their lowest ever price to help fund his spending bonanza! So we are in equally bad shape. The problem with the us dollar is a combination of problems…overspending, over borrowing, the loans/mortgage crisis in the US, the rising price of oil, world unease about certain countries in the Middle East. They all conspire to weaken the dollar. And when the dollar weakens, people go to gold or other currencies. Best is to make the most of it – put all your spare cash in gold and take more holidays in the USA! I don’t see the USA collapsing just yet..but it is a storm we will have to ride out. Like you I am in the same boat. Most of my earnings are in dollars too, which isn’t funny when you consider the strength of sterling against the dollar. All the best!
Peter
Mark, thanks for the information. I agree with you. Our economy here in America is like a train wreck waiting to happen.
I inserting a comment that another fellow IM wrote in his newsletter just this week that reflects what is going here in America.
His subject line is this: IT is hard during the Holidays.
email body:
In yesterdays email, I mentioned that I wasn’t going to be online
much today. Well, after looking at sales figures for all of my
websites last night, I had to be online today. My sales figures
compared to other months completely sucks major wind, and it’s
making me hustle harder than I ever have.
But what I’ve noticed here in the United States, is that the value
of our dollar here has dramatically decreased, as the world is
slowly losing faith in ‘the most powerful nation in the world’.
I hardly believe that statement about being the most powerful nation
and I can debate with anyone on this all day, but I’d rather not.
The fact of the matter is, for many many years, the US Dollar has
always outweighed the Canadian Dollar. It used to be where each
US Dollar equaled $1.70 in Canada.
Now, 1 U.S. dollar = 1.00919987 Canadian dollars
The other day, it was only worth $0.98 CAD, but the fact is that my
country’s dollar is losing its pulling power and its strength…and
all of this is due to the declining economy here in the States.
I don’t wanna keep rambling sounding like a financial analyst, but
this has caused many US based internet marketers like myself to see
huge declines in business. I’ll tell you this…even though I make
real good money online, I found it a little bit harder to give my
kids a good Christmas this year, knowing that sales has dropped
immensely compared to last year and earlier months.
So, to those who emailed me personally saying that they couldn’t
afford my firesale, I said right back to them…
I UNDERSTAND.
Times are extremely rough this year compared to years past. More &
more people who used to dig themselves further into debt every
holiday season to give their families a good holiday…now, they no
longer have that option, with the debt crisis here in the USA.
So if Christmas or Hanukkah or Kwanzaa is going to seem like just
another Tuesday to you, trust…you’re not alone.
Tim wrap in up in a nutshell. If we as Americans don’t wake up, we will be just another third world country.
Hi Mark,
Politics and politicians take care of themselves. If you have to take everything you hear in the news to heart you will end up being a gibbering wreck. I live in South Africa where more people get killed by crime each day than any where else in the world. There are worse things to worry about that monetary policy. God Takes care of things the way he sees fit.
Live Your life
Blessings
Richard
Very worrying. Especially since I am a senior citizen and am on a fixed income. Havent made it on the internet yet, still trying. Keep up the good work.
Mark I want to congratulate you for your willingness to stand up for this. I think we’re at the point now that if Ron Paul doesn’t get elected, we’re at the end of the American dream.
Hi Mark. First i want to thank you. It show that you are good man. I am South African and we have new law that limited borrowing the money. Sense i start learn Internet marketing year ago i realise that many US people very poor. I get 500 e mails a day mostly from US, tons of spam, some from loan companies
that says- You in debt, don’t worry so everyone else, borrow more money.
That is worry me VERY.
Thanks.
Mark When you mentioned there was only one politician talking about it I already knew who was going to be in the video. I receive several emails from other internet marketers to keep me to date on whats new and you just went to the top of the list. Hopefully the video will make a difference for some voters and the amazing thing about it is that the email came from another country. Thanks
Doug Ketterman
Mark,
You just hit the nail on the
head. Every time you mention
the economy, or the possibility of a recesstion to someone in corporate America they look at you like you are crazy.
I think they have there heads in the sand!!
Thanks,
Joanne
Hello Mark,
I understand the frustation you feel considering you deal mostly in dollars.
If we as Americans do not wake up, soon we will be slaves of the world. But if the world looses the American markets; then, the world will turn to Europe and Asia markets to deal in business. The Internet will assist in that, but it will open the way to other more dangerous practices that will affect the whole monetary systems of the world.
May The God of Mankind, The Alpha and the Omega, The I AM, The God Father of our Lord Jesus be with you always.
Mark Gonzales
It seems that the video is no longer available to watch. What happened?
Hey Guys,
Thanks for all the comments so far. It’s good to hear peoples views on this as it’s barely talked about over here.
Sandra, video seems to be working fine for me. Anyone else having problems viewing it?
Mark
Hi Mark.Thanks for that interesting video.a real eye opener.I did’nt know the American economy was in such a bad way.
Hi Mark,
Hooray for you and I don’t care where you’re from. Like it or not, America is a super power and what affects us will touch your world too!
Our monetary policy has got to change and fast, starting with our foreign spending.
Ron Paul is the only presidential candidate that seems to understand the root problem and, indeed, seems to care about the freedoms that this country was founded upon.
We all need to not only vote for him but also to support his campaign in any way possible.
Your devoting space to this issue on your marketing blog is a great service not only to your American followers but to anyone who would like to see a stable global market economy. Thank you.
Oh, my word, everyone is getting hysterical. We may be in a period of flux and correction right now. All of the tv clips you showed were from liberal networks. Right now, the liberals are ramping up the hysteria about everything: the war, global warming, the US dollar, etc. They play the blame America game. Other than Steve Forbes, whom I greatly respect, I’m not familiar with the others. Maybe you should turn on Fox news. You know…the “no spin” zone and get the best of both sides of every issue. I happen to love God and my country. It is the best country in the world. I trust that eventually the congress will grow up and act like adults and do what their constituents voted them into office for: to represent them, rather than play these stupid party-line games. I, personally, don’t know why we have to have a voice-piece for us in the government anyway. Most of us are intelligent enough to represent our own views with clarity. We should have a one person, one vote system for all issues. That’s the democratic way.
All the best to everyone, and may you have a Merry Christmas and safe holiday.
I find it interesting that people who are not American find this whole subject more interesting than Americans.
I think Americans should demand truth in their broadcasting so they can actually see what is really going on in the world instead of what the American Government/broadcasting wants them to believe.
The American Foriegn policy has always served Americans, but it has caught up with them as there is no basis to keep their dollar value sustainable.
Americans have driven manufacturing to foriegn countries for years. You cannot sustain a country of this size on Services alone. American people do not want to do “Service” jobs. oh, and by the way, neither do Canadians. We are not a nation built on services. Free trade has not served anyone well. Sending our manufacturing to China and Mexico has only returned us garbage goods with over inflated prices. The greedy get richer. Well, guess what. I am not buying anything from China anymore. I’d rather go without!
Wake up North America!
Whether R. P. is ‘The Politician’ I don’t know yet.
I do agree that this country is in trouble thanks to the policies of these last years. This ‘Great Experiment’ seems to have lost it’s way and is fumbling right now.
And it’s partly mine – and your – fault for not being more involved and in everything.
Bob
Mark I believe that Joanie is correct…Corporate America has their heads in the sand. Right at this point, in history I think it is awful to be poor in this country. But if America keeps spending the way they are the people that are middle class will have the bottom drop out of their lives. My big question is how will a country of mostly middle class people cope with suddenly being dirt poor? The psychological damage will be horrendous let alone the physical and financial damage.
Unlike Peter I don’t feel that the film was propaganda and I think that Congressman Paul was saying a lot of things that are way over due.
I just pray that the American government gets their heads out of the sand and gets out of war. If they do, not only would they be saving a lot of good men’s lives, they would be on the road to saving the economy.
Hello Mark,
Great video, Ron Paul is the tip workers best friend for us here in Nevada (USA). He is the only one promising to stop the IRS from taxing our tips since they don’t even know how much we make. I drive a taxi and charged 23% on my daily taxi meter. People don’t tip this much.
Dear Mark,
You are absolutely right, and so is Senator Ron Paul.
My husband and I have been homeless on and off for the last 12 years, all due to the decreasing value of the American dollar.
Even now, my husband makes $9.00 a hour. We just barely hang on and are never ever more than one missed paycheck from being homeless again.
JUST $9.00 an hour!
When I was a kid, over forty years ago, that was a veritable fortune! Now it is just above poverty level.
We don’t make it UP to be ranked in the middle class.
Americans, wake up. We are losing our rights and our liberties at the hands of our own unscrupulous leaders.
Mark, Looks like you’ve struck an international note (so to speak) It’s been a while since I wrote you but this is a very important issue to us not so rich Americans. The one thing more than anything else that is draining our economy is Bush’s War in Iraq. A far as the social programs (which I support because I believe we are our brothers keeper here on this earth) if the people making millions off the bodies and blood of my brother’s and sister’s (I am a vet in a wheelchair) in service to this great Nation were held accountable and fined for misuse and abuse of the money they are getting we could finance every family in America. The American Dream as I see it is a dead issue. The rich are getting richer and the poor are getting poorer. The real shame is that a man like Ron Paul is made out to be a cartoon character so the easily influence and so called loyal Americans will believe him an idiot and his ideas fantasy. I was going to say ‘think’ him an idiot but they don’t seem to think for themselves at all. We in the USA know it will not change as long as those at the top can increase their personal wealth and that of their friends off the backs of anyone in their way to riches. I suggest that all Americans start learning the Chinese and Arabic languages. It won’t be too long before they own America. Our indebtedness to these nations is staggering. I better stop here before I get put in Guantanamo.P.S. Take a peek at my website..we are trying to take back some of what is ours. Thanks Mark I needed that! Happy Holidays & Shalom.
Hi guys sorry I cant agree with the usd$ falling.I live in South Africa things here are tough economicaly as it is is.Each time the dollar falls our currency value rises.Thus making any international venture cheaper for us supposedly.It allows us a bit extra in travelling and imports cheaper etc.Sad fact though very little of this actualy benifits us as our dear govt are not reflecting this to the consumer.The economicaly active people are getting ripped solidly and as usual the latest is that due to the US$ rising considerably over the past five to six years we have felt the effect in a big way.Our government is ripping us of in many other ways making South Africa a very poor investment proposal.They have a misperception as many of you guys have that everything in the world is controlled by Bush et all.IOW each time there is a bit of crisis local fuel prices rise at ridiculous amounts.Food expenses are out of control.The time has come for independant economies to take a stand and say we no longer will be dominated by the US$ either deal in our currency or go home that way we can all add value to our own currency and input and put Bush and his cronies in place and make them understand that we refuse to shake each time wall street sneezes.In the eighties it used to be one one rand for one dollar and one rand for two GBP.Now it costs us South Africans ten times as much for a Dollar and up to 14 Rand for a single pound go figure.South Africa wake up these guys are using us big time for their own gain.In fact they dont care about me or you or the starving in Africa.It is all a very extravagant marketing campaign.I used to think people like David Ike are off the wall……..starting to change that perception.
There are really reasons to be worried because the whole world is affected by the American economy.
However, America and his people deserve some credit, as they’ve overcome other difficult situations in the past, they’ve got rid of other bad politicians previously and they’ll certainly survive to Mr. Bush’s disastrous war and economic policy.
Hey guys, I know we have a lot of problems, “but”, we, meaning those of us still living in the USA are in the most prised place in the world. We can’t run and hide from the rest of the world just because everyone does not agree with us. Our monitary problems did not get here over night. A major portion of our citizens are liberal idiots who are only thinking of themselves. Lets back off and take a steady course, do what is right for our country, based on sound moral principles and good old common sense, instead of going nuts just because of an election year and abandoning our troups and what they have fought for. Quitting is not an option and trying to tie our money problems on the coattails of our troups is just not right. We didn’t get here overnight, lets not try to fix this problem by cutting our throats and alienating ourselves from the rest of the world. We will always be a country that leads the world as long as we stand up for sound principles and moral stability. In other words the rest of the world always looks to us to do what is right. Hopefully we can as a nation come together and do that.
History tends to repeat itself when lessons aren’t learned. Look at all the former nations in history using the Fiat Money Systems, they can’t last, it isn’t possible.
Hello,
I like the discussion here.
So what is the solution ?
At the individual level, we need to educate ourselves and play ‘their game’ to our advantage. We cannot afford to remain ‘ignorant’ any longer.
You are invited to evaluate this education programme and join the ‘fight’.
http://www.myboundlessincome.com
I am this middle class they are talking about. I work for a major utility company and make very middle class money and I have felt the strain the past couple of years. With gas going up, milk, basically everything you would buy to survive it is getting tougher to just get by. I turned to Internet Marketing about a year ago looking for an out or extra income to help with the loss but have not quite found my niche yet.
Yup Mark, good on ya dood for cranking this out….
There is someting weird going on over there in the whitehouse …. i have read it all over the net from all walks of life, people are really worried about what has happened to their country.
What did happen? … who let it happen? ….who sold the US ?
Our politicians have been screwing the American public since before I can remember. Consider they receive a pension for every commision they serve on, or every post they hold. Most of us have to work twenty years or more to qualify for a pension that is a percentage of our previous incomes. If a congressman serves on ten commisions, he / she will receive a full pension for each, even if it took six months of part time “work”. Even stopping this policy would make a difference. Bob Doles retirement income is far greater than his yearly income while he was “working”. I guess if he had come up with ANY policies that were good for the American public, it might be worth the cost.
Most of the policies enacted by our “leaders” are in some fashion good for their own financial gain with absolutely no regard for the American public, or it’s welfare. Their fellow politicians won’t stop any frivolous programs, as they will need the same favor in return.
When you consider the rising costs over the last few years, as compared to the incomes of the middle class worker, you don’t have to be a rocket scientist to see where there might be a problem with staying afloat for many families. Then they double the minimum payment on credit card debt, (in an effort to gain control of the high level of credit card debt held by the average American family) and you instantly seal their fate.
I wonder if there is any common sense at all used by any of our politicians, or an ounce of conscience from a local level to Washington, D.C.
Thank you so much for caring enough to share your opinions on this. I myself am an internet marketer and I am also a County Campaign Coordinator for Ron Paul. It amazes me how Americans have been so asleep to the important issues for so long. Ten years ago when I spoke of these things I was called a conspiracy theorist and told that that stuff could never happen here. Now after these things have transpired they say well yeah that was bound to happen that’s just how things are. They are so programmed that they can’t even admit that they denied these very things just a few years prior. We are in a sad state of affairs and until we get out of this American elitist mentality we will continue down this spiral. Please vote Ron Paul. I have followed his career for years and he has always amazed me with his integrity and his love for the freedoms so many people across the globe have fought and dies for. remember also that tomorrow is another big fund raising day for his campaign. In commemoration of the Boston Tea Party that lit the sparks of a Revolution. It is way past time for a new revolution. The Declaration of Independence says that it is not only our right but it is our duty to get rid of an oppressive government and replace it with a government for the people. Vote Ron Paul 2008.
I knew you were a concerned citizen and you make a lot of sense your concerns are pretty much in the hands of us as voters now.
I am a citizen of the U.S. and I agree with much of what Mr. Paul has to say including the fact that our congress is spending at an unprecedented rate and a most irresponsible manner. However I cannot agree with his isolationist policies in terms of the war in Iraq. What those of you who live in other countries fail to understand is that every time there is a presidential campaign in this country the press starts spinning the news with stories of how terrible the economy is going. When Clinton ran we were told we were all two paychecks from being homeless and there were millions living in the street, however after the election it turns out we were enjoying the biggest growth in thirty years. Clinton had not even been sworn in yet.
This has been going on for thirty years now. Unfortunately our press is no longer interested in looking for the truth, and those who try to tell it find they no longer have access.
HELLO MARK,
YOUR BLOG IS VERY USEFULL.I HAVE SAVED THIS MAIL FOR STUDYING IT THIROUGHLY AS IT HAS LOT OF INFO.THANKS FOR YOUR MAILS.
KRSVASAN
You know, I don’t know how all of our troubles got blamed on the war. This trouble started back in 1999. Since then, hundreds of thousands of people are making less than half of what they used to. Oh sure, unemployment has gone down, but that’s only because people settled into low paying jobs.
Ruth, the middle class had the bottom fall out years ago.
And all this talk about interest rates. We haven’t been able to make any decent interest on our money since 1999. Lower interest rates certainly allow people to spend more, but there’s no incentive to save.
And what caused the problem? Wall Street. They cut the cr*p out of customer service, R&D, maintenence, and whatever else they can – leaving companies bleeding – all so the share holders can make money. But you can’t survive that way for very long. People are doing the jobs of 2 or 3 people, and there’s not enough bandaids to fix everything that’s been neglected. I’m amazed that our phone system still works. Utilites were in serious danger. If the rates had not been raised, all of our systems would have fallen apart.
Wall Street demands more and more cuts in overhead, which means cuts in manpower and quality. And the rich are getting richer.
The war is a convenient scapegoat. Don’t get me wrong – I think Bush has done a horrible job at home. But I can’t imagine the world wide consequences if we were to pull out of the war and go home. If those idiots can claim they won, what will they feel entitled to do around the world? How many lives will they take? How many more train stations will they blow up? What would stop them?
Our problems at home will not get better until someone reins in Wall Street.
The war? I don’t know what the answer is, but it’s not pulling out and allowing the terror to be unleashed worldwide. The original premise to train the people to run their own country seems to have failed. Somehow, they have to be able to put a stop to the terrorist factions. But how? I don’t know, and that’s why I’m not running for president
Now add, health care costs, apathy, gas guzzling S.U.V.s, and people unwilling to change bad habits.
We are in deep, deep trouble.
I’ve recently written an article about it also. You can see it at my site if you’re interested.
Thanks Mark
Cool site. I am in US and it is nice to here what people
outside the country think,
because they(govt) don’t want
us to see the real picture.
It does not make sence, The
usa is so pose to be the Big bad powerfull country with all
the money, How in the hell can
we all be so poor right now?
Ed
The world is a different place than it used to be. With an ever increasing population and with more cultural diversity the stage is set for even more intolerable situations to occur. Now if government was good and pure then the situation might have been different but I suspect that quite a long time ago the tide has turned where goverments no longer look to the common good of their citizens, but rather look after the interests of the global powerful multi-natoinal corporations that wields the most influence. Patriotism is a way for goverments to control the loyalty of their citizens and to instill fear in them of how how bad their lives would be if they were not around. I think of John Lennon’s song “Imagine” when I think of where the world is today and where this blue spinning planet is heading towards.
Mark,
I agree wholeheartedly.I am an expatriate American living in the Philippines because I could not afford life in the States. Now it’s getting so I can’t affod life in the Philippines. I saw this coming a long time ago,but most Americans are too busy woking all the time to even try to find out what is
really going on with the Ameican corporate govenment. To all American voters, I urge you to support Ron Paul as a canidate for President.
I definitely agree with Mark and Ron Paul. Unfortunately it doesn’t look like Ron Paul is going to get the Republican nomination according to national polls. But the good news is that Giuliani and Huckabee have expressed interest in reducing government spending. Giuliani himself has a sound record of spending money wisely as New York City mayor.
Hey Mark, Thanks for every thing. I payed you $17 around 6 months ago and you Have provided me with more resorces and information to help me change my life than have the big social brograms, that get HOW much money? I guess I should tell you that I am blind and have been most of my life. Thank god I was lucky enough to be raised by a family that made me learn to do for myself! I don’t want to take up to mutch time talking about me, I want you all to know that what I am about to say, I live. I am from the U.S. the state of Il. and it is going down fast! We are not educating most of our children, and put them on psycatropic drugs and give the parints SSI. checks to keep doing the things that scrude the kids up in the first place. And the people who do need help cann’t get it because the money has been used up.If you give someone $20 for food for his kids and he used it to buy drugs, or anything for himself, and did nothing for his kids, Would you give another $20 the next day? So why do we have programs and policies that do? So let’s just say big social programs don’t work, Taking pride in your family and the role you play in raising children does. People here want it all, who doesn’t, well we cann’t make anything here any more and we are not raising the leaders of tomorrow in computers and tec. So on what do you base the vallue of the dollar? If people do not need to buy anything from the U.S. why do they need the dollar? So what do we do? I know of three things, 1. lower the cost of living in the U.S. 2. increase the cost of living over seas. 3. Make the dollar low enough that you can become an exporter again. All three have a bad side, and nothing will matter if our people don’t stand up and make some hard changes. Some people just need to learn that it is better to tell your kids no and not buy the newest video games, phones, and so on, don’t spend the money and you don’t to work so hard, and maybe you can take the time to do things with your kids and teach them things so they can earn that social standing instead of you buying it for them. And some people don’t give a damn about kids at all, and don’t try to provide the kids any more than they have to. I am raising a boy that I adopted and I am here doing the things I am doing to change our lives for the better and he will learn the skills to make his own way in life, I’m not buying it for him. Speaking of him he wants to go play in the new snow we’ve got so I better get going. Sorry about the misspellings I suck at spelling and the boy doesn’t have time for me to correct them all. Thanks for taking the time to read this, and I hope it gets people to think about what we do have and what we can do. Who said, You cann’t always get what you want, but sometimes you get what you need. from wsdrummer PS. I have got this far in my life with out much help from the big junk programs and I don’t expect that change any time soon. and to the state worker who in 1989 told me to eather sign up for lighthouse programs, or starve on ssi. I’m not starving yet!
Mike you’re an inspiration man!!
Thanks for the post.
Mark
I knew the U.S. dollar will drop the moment they invaded Iraq. Throughout history, a nation’s economy is put in a huge financial stress for funding its war efforts. Saddam Hussein was forced to take over Kuwait in the hope of increasing his country’s oil revenue for funding his war against Iran.
In the late 90′s, the U.S. economy was already in trouble due to its ever increasing trade deficits and balooning debt. The only reason why it kept its high value then is because of the demand in U.S. currency which is mainly used for international trade (most major commodities like oil is expressed in US$). Also, there are nations that depend on a strong trade with the U.S. and they therefore, are buying billions of it to stabilize their local currency against it. These countries are China and Japan. China want its goods cheap so Americans keep buying them. If you are aware of the economic news, a lot of pressure is put on China to float its currency but the Chinese are not budging. However, they too are being affected by the low U.S. currency because they need to buy raw materials for making their finished goods. Interestingly, the U.S. like to keep the currency cheap because this is a good way to balance its trade deficits.
The doom scenario is that the world decides to use other more stable currency rather than the U.S. dollar for international trade. Ryad’s gold currency was once mentioned and so is the Euro. If this were to happen, you can kiss your U.S. dollar good-bye. Could it happen?
My sense is “NO” because the U.S. is still a self-reliant nation. The only raw material it is importing is oil but because of the rising cost, the effect on global climate and the trouble it is causing the nation, the growing mood in the country is to find alternative source of energy. Secondly, the biggest market in the world is still the U.S. If they decide to close their door to the world, they will still survive and probably survive very well. Will other nations that are dependent on U.S. trade survive? Not likely because there is no other market in the world that can match it.
Right now, we see a glitch (more than likely, a long awaited correction) and I do not see a continuous downward spiral of the U.S. currency to nothing. It is a presidential election next year and if the democrats were to take back the oval office, fresh agenda will likely correct the ills of the current government. Also, if there is closure in both Afghanistan and Iraq wars, you will see the rise of the U.S. dollar again. When that happens, it’s party time again.