USD is going down! What to do?

Lucky I converted some of my AUD$ - its gone back down

 

40 rupees? WTF!!!

Every month now I am making less money...I blame Bush for this!

Iraq wars for Oil? That means he will make us suffer? grrrrrrr

 

Technically its not Bush's fault. Blame the FED. They're the ones priting the money and they're supposed to be "independent".

At least think of the bright side: it can't get any worse... or maybe it can!

 

I used 4 US dollars at the beer store today along with some CAD, he asked me if I wanted to use all the USD, I was like dude??

 

That's like saying blame China (and ourselves, the "private sector") for lending money to the US government via purchases of government securities.
The Fed is not the one in control of the fiscal policy. Please further explain how this is the Feds fault, and I'll be glad to debunk your argument.

 

The President still can do something about it. JFK did. And the Congress has power to abolish Federal Reserve. I don't think blaming government is the best thing to do though. It's not like they force you to hold dollars. Anyone who does does it voluntary, they should blame themselves

 

Abolishing the Fed won't stop the huge fiscal spending...
If the Fed is not there, the government can still sell their securities to others.

 

1 USD = around 98 cents Canadian

the Canadian dollar is currently stronger than ever, will it match soon?

 

yes, it will match within 2 weeks

 

From what source did you get that information from?

 

We are from INDIA, and offering our Wide Range of services and collecting $$$ from our clients. But I also have the same problem.... USD is getting down day by day, even 10% down with comparision to INR. Here what i am trying to do going to wait for more time.... Its giving us big loss as far as the business is concern. I am putting my money with in USA and wait longer and when the picture is fine and USD is up, then i'll get that to INDIA. This is what i am going to deal with this situation. But that means the US ecomony is getting down...?

 

I guess someone who has throughout knowledge about economy can explain, but in short Yes.....

 

Last I checked $1 = 1.02 Canadian, which means the dollar is still slightly stronger.

The US dollar will be weaker than the Canadian in a few weeks.

The president can do very little to change the value of the dollar, unless he wanted it to crash (he could cause a panic quite easily).

The Fed does have a lot of control over the value of the dollar, but a dropping dollar is not the Fed's "fault." Abolishing the Fed would not solve our dollar problems. The Fed exists to keep the economy stable. Our dollar is no longer fixed against a commodity or another currency as it once was (fixed to an ounce of gold, or in some cases silver), so that means its value floats in the market. Interest rates affect the value of the dollar, and the Fed adjusts these carefully (interest rate too high -> no borrowing, slows down growth; interest rate too low -> run-away inflation, dollar loses purchasing power abroad). Since the establishment of the Federal Reserve, I think they have done a great job (for the most part) of keeping the economy stable and growing at a reasonable rate. The "crashes" experienced by the United States are paltry bumps in the road compared to what less stable (and less or poorly regulated) economies have experienced.

 

Thats not good. I'm Canadian but got quite a lot of money thats USD in paypal.

 

Hi there,

I wud suggest you to get your $$$ out, I can't really forsee USD getting stronger against INR much. Infact sub-prime issue is US has grown deeper. And Indian economy is doing better.
So, USD could get strong on temporary basis (can't see any soon though) but not for long term.
USD could go more down, if this subsrime issue continues.

 

Waiting for USD to get back up is like waiting for a sunk ship to get back up. It will be a long wait. There isn't even going to be USD when Hillary gets in the office, they'll replace it with amero

 

That's easier said than done, only if Canada is willing which as far as I'm aware of we are not.

 

The dollar doesn't go down because of the subprime mortgage crisis, it goes down and will keep going down because of a huge $700 billion a year account deficit. Public and personal debt levels are unsustainable and the dollar is currently worthless, believe it or not, it's worthless, and it didn't devaluate yet because China and Middle East allies support it.

One figure, the US government and its citizens owe 60% of the money owed in the world, for 5% of the world's population and less than 1/4 of its economy. The dollar is worthless, believe it or not, a majority of currency experts and economists published this conclusion.

 

I wouldn't think we would either. We do have the world's natural resources a huge huge chunk of it (kind of off topic).

There are pros and cons to this.. right now it's not good for my business (even though I'm a Canadian)

 

Ditto. Plus, every time something like this comes up there are sovereignity issues. Then you also have to factor in that with one currency anything the US or Canada does affects the other country. In our case we would usually be on the losing end since the US likes to spend money on stupid things.