Author Topic: The future of US Dollar  (Read 8835 times)

Offline don/dez

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Re: The future of US Dollar
« Reply #15 on: November 14, 2009, 06:32:06 AM »
My Hovercraft project is priced in US Dollars, when it began the bidding process we looked to walk away with over 1 mill profit, now we will be lucky if we don\'t owe the customer money... The US Dollar has tanked and will stay flushed for a long time to come....

Wayne   :( :(
The handlers just need to stop printing them! >:(
\"I\'m not the sharpest nail, But I can still be driven\"

Offline coutts00

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Re: The future of US Dollar
« Reply #16 on: November 14, 2009, 09:50:10 AM »
Pretty soon we can use it as TP, it will be cheaper and its made from cotton, better for us.

Wayne   ;D ;D
Wayne  ;D ;D

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Re: The future of US Dollar
« Reply #17 on: November 16, 2009, 11:47:19 AM »
Where is your hovercraft business? Is business that slow where you aren\'t making any money? Sounds interesting, how about some pics? I\'d like to have a hovercraft for those impassible roads during a flood! Can it fit behind a truck where you can take it with you? Jet skis are ok, but they don\'t float very well, staying still.

Offline lwood

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Re: The future of US Dollar
« Reply #18 on: November 28, 2009, 06:06:48 AM »
Back on the Dollar....maybe this will make you feel better (not much)
This link=> http://www.marketwatch.com/investing/index/DXY/charts?countryCode=US&submitted=true&intflavor=advanced&origurl=%2Ftools%2Fquotes%2Fintchart.asp&time=7&freq=1&comp=c_php&compidx=aaaaa~0&compind=aaaaa~0&uf=0&ma=0&lf=1&lf2=0&lf3=0&type=2&size=1&optstyle=1013

...is to the US Dollar Index on the Marketwatch.com website.  Hopefully the link will take you right there but just search on \"US Dollar Index\" on the marketwatch.com website, if interested.  This will give you a chart of the relative dollar over time.  If you compare that dollar index to the Philippine peso (c_php) what you get is comparison btw the peso and the dollar.  What is interesting is that even though the dollar goes down the peso is staying the same or not down as much.  You see this by the fact that the gap btw the dollar and the peso is getting larger.  So, it could be a lot worst.  If the peso had dropped as much as the dollar has dropped, especially in the past few days, we would really be feeling it.  If the peso is really pegged to the dollar, then why the divergence?

Why do you suppose this is.....?  Dubai just imploded and jobs are scarce all over the world.  OFW money is not as available any more.  I think the peso will get worst before it gets better.  As long as jobs are tight the OFWs will suffer.  That is good for us American expats and maybe others since most currencies are tied to the dollar in some form or another.  I don\'t wish the OFWs any ill-will, but that\'s just the way it is.  Let\'s see what happens during the Christmas season.  OFW remittances should be up for the holiday season which devalues the dollar.  My bet is that remittances will be way down this year.  Which will have a positive effect on the dollar.  OFW remittances are just one factor, but a big one right now.

Offline Lee2

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Re: The future of US Dollar
« Reply #19 on: November 28, 2009, 06:42:33 AM »
This should hurt the Philippines some and IMO it is a sign of things to come from many more places all over the US and the world.

Cash-Strapped SF slashes jobs held mostly by FIlipinas, other minority women

http://www.abs-cbnnews.com/pinoy-migration/balitang-america/11/25/09/cash-strapped-sf-slashes-jobs-held-mostly-filipinas-other-
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

Offline don/dez

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Re: The future of US Dollar
« Reply #20 on: November 28, 2009, 06:52:11 AM »
I\'m with Mr Lee \"Due to the rising cost of electricity, cable, water, gas and oil, as well as current market conditions, the Light at the End of the Tunnel has been turned off.\"
I don\'t think the dollar has a future at least like it used to of course I\'m a pessimist! It\'s that darn history I keep reading about. :o :o :o
\"I\'m not the sharpest nail, But I can still be driven\"

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Re: The future of US Dollar
« Reply #21 on: November 28, 2009, 09:59:02 AM »

I came across this article on the internet....

HSBC Forecasts Peso Exchange Rate Of $1-P43.60 In 2010
November 24, 2009 by   
Filed under Economy

AHN Staff
Manila, Philippines (AHN) – Hong Kong and Shanghai Banking Corporation Philippines Treasurer and Head of Capital Markets Jose Arnulfo Veloso forecasts a stronger peso next year. In a media briefing on Tuesday, he said the peso-dollar exchange rate could further improve to $1-P43.60 in 2010.

By the yearend, the pesos could reach P46 to the dollar. On Tuesday, the peso closed P47.50 to the dollar.

Veloso premised his forecast on the greenback continuing its weakness. If the trend goes well into 2011, by then the exchange rate could be $1-P42.50.

He explained low interest rates in the U.S. lead to capital flow into emerging economies and create downward pressure on the American currency. In turn, the strong pressure on the currencies of emerging economies has resulted in some central banks shoring up the foreign exchange reserves to resist a sharp appreciation by the local currency.

Aside from the foreign currency rate forecast, Veloso predicted the Philippine gross domestic product growth rate would be 1.8 percent this year, less compared to 2008’s 3.8 percent. For the next two years he foresees the country’s economic expansion by 42. percent in 2010 and 4.7 percent in 2011.

Offline Lee2

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Re: The future of US Dollar
« Reply #22 on: November 28, 2009, 10:31:47 AM »
HSBC and a lot of banks like to make these predictions hoping they will come true. It is sort of like all those stock market predictions in magazines, people read them and buy them up so they eventually become true and then the magazine people bail out and the stock tanks. The banks are doing their best to keep the peso strong but they can do little to control the rest of the world and as things get worse in other countries, people will send less money and so on and so on and eventually the peso may end up 100 to one. This is a bad time of year to judge because people always send the most money around Christmas. I remember reading years ago how the peso was going to stay at 22 and look where we are now and I have also read in the past that the US would like the peso to be 1 to 1, so that means p100 for every dollar, so who knows what the truth is, all I know is that it was 20 to one back when I met my wife and has never gone back down to that and I suspect it never will, unless the dollar tanks totally. Of course the dollar is no longer worth what it was back then either.

Paranoid Don/Dez, you are not alone my friend.
:) Happily married since 1994 & live part of the year in Cebu and the rest in S. Florida.

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Re: The future of US Dollar
« Reply #23 on: November 28, 2009, 12:44:47 PM »
There was a time in history, that \"pepper corn\" was used for payment and worth more then gold.

Maybe, \"Balut\" has a chance?  ;D
B-Ray

I must admit to not understanding global finance and the importance of gold. Why not have a mythical substance X, give it a value and trade in that? If we must have a physical substance, I propose balut, or perhaps bagaong  ;D ;D ;D ;D

Colin

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Re: The future of US Dollar
« Reply #24 on: November 28, 2009, 03:18:43 PM »
     I remember back in 1968 when I was stationed at Clark Air Base as a young Airman only making $125 on the 15th and end of the month! The exchange rate back then was only P4.80 to the dollar, gas was only 13 cents a gallon, 4 bdrm house rent was $50 and $5 would feed 10 people for dinner!
     Only difference now is that we make more money and prices steadily went up along side with the economic inflation rate! Only thing is, that the U.S. screwed up by being lender/borrower happy to every tom, dick or Harry who had money in their pockets who over extended themselves on credit hundreds of years ago! Look where we are today! All hell broke loose when the housing market took a nose dive in turn creating a domino affect down the line! Sad as it may be, I hope at least everyone, especially the U.S. Government will have learned their lesson from it and hopefully get back on track to rebuild our economy! But for most of us living here in the Philippines we are all doing well huh!
     And get this dang terrorism crap under control, it\'s a big freak\'n pain in the _ss!!!! Also, better get those other fanatical countries in line to stop uranium enrichment, cause if not, we may be living under a bunch of \"fall out\" clouds one of these day!!! Sorry, strayed off topic!    

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Re: The future of US Dollar
« Reply #25 on: November 28, 2009, 03:36:42 PM »
There was a time in history, that \"pepper corn\" was used for payment and worth more then gold.

Maybe, \"Balut\" has a chance?  ;D
B-Ray

I must admit to not understanding global finance and the importance of gold. Why not have a mythical substance X, give it a value and trade in that? If we must have a physical substance, I propose balut, or perhaps bagaong  ;D ;D ;D ;D

Colin

How about coins or paper thin currency made from platinum itself? It\'s durable and lightweight! And just strictly use debit cards anywhere! Or have a micro chip embedded in our palms to swipe over a scanner for identification, getting cash or charge and use as a license to bare arms, drive, in lieu of a passport and or vote in elections etc! We have the technology now! And if your hand ever gets dismembered, you can have the micro chip removed and reinstalled on your forehead or rear end like Don/Dez suggested! Ha ha ha ha! ;D

Offline don/dez

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Re: The future of US Dollar
« Reply #26 on: November 28, 2009, 03:46:30 PM »
I know lets just get the credit card number tattooed on our forehead! or our rears! ???! ???! ???!
\"I\'m not the sharpest nail, But I can still be driven\"

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Re: The future of US Dollar
« Reply #27 on: November 28, 2009, 03:50:37 PM »
I know lets just get the credit card number tattooed on our forehead! or our rears! ???! ???! ???!

Bend over! Which cheek do you want it on? ;D

Offline don/dez

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Re: The future of US Dollar
« Reply #28 on: November 28, 2009, 03:57:06 PM »
There was a time in history, that \"pepper corn\" was used for payment and worth more then gold.

Maybe, \"Balut\" has a chance?  ;D
B-Ray

I must admit to not understanding global finance and the importance of gold. Why not have a mythical substance X, give it a value and trade in that? If we must have a physical substance, I propose balut, or perhaps bagaong  ;D ;D ;D ;D

Colin
Lumpia is pretty valuable around here ;D ;D ;D
\"I\'m not the sharpest nail, But I can still be driven\"

Offline don/dez

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Re: The future of US Dollar
« Reply #29 on: November 28, 2009, 04:02:01 PM »
I know lets just get the credit card number tattooed on our forehead! or our rears! ???! ???! ???!

Bend over! Which cheek do you want it on? ;D
Well I have more than one card and then there\'s my passport! Just think how much better it would be to stand in the check out line! all those young girls with bar codes :o :o :o
\"I\'m not the sharpest nail, But I can still be driven\"

 


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