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Thread: Bush Says U.S. Economy "Envy of the Industrialized World"

  1. #1
    Veteran of Misadventures
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    Bush Says U.S. Economy "Envy of the Industrialized World"

    http://www.cnn.com/2006/POLITICS/01/....ap/index.html

    All I know is that my U.S. dollar only fetched $1.14 Canadian when I was in Montreal last week. I don't think that is an envious exchange rate.

  2. #2
    Quote Originally Posted by EagerBeaver
    http://www.cnn.com/2006/POLITICS/01/....ap/index.html

    All I know is that my U.S. dollar only fetched $1.14 Canadian when I was in Montreal last week. I don't think that is an envious exchange rate.
    Sorry but you wont make me cry over this. We had for a long time paid $1.40 and more for a U.S. dollar. Enjoy another 2 or 3 year of Bush

  3. #3

    Talking

    EB,


    As usual Bush and his croonies are living in a fantasy world for the following reasons:

    1- The U.S. economy is owned by foriegn interests i.e. Saudi Arabia,Kuwait, Japan, Germany etc....

    2- The Euro is slowily replacing the US $

    3- the emerging ASIAN economies

    4- The outsourcing of American Jobs to India, Pakistan etc...

    However if you believe in conspiracy theroies one would say that this was all planned by the Corporate elite and secret societies i.e. Freemasons.

    One just needs to look at the American dollar and you could clearily see the Freemaisons symbols everywhere and if you examine the Euro you will see the Biblical symbol refered to in the book of revelations in regards to the AntiChrist.

    Anyways enough of this rampling, this could be a topic of another discussion, lets not get carried away!

  4. #4
    the only thing of value to envy in the world is a country's quantity and quality of SP's ... everything else is pure nonsense blah blah blah
    The_Seeker

  5. #5

    Holy exchange rate Batman!

    2002-01-01=1.5997
    2006-01-06=1.1647
    Why didn't I buy ten grand worth of CAD then?!!!

    Why has the rate gone done so much .435 in just the last four years, especially noting the .25 drop between 2003-01-01 and 2004-01-01 with .19 of that .25 total occuring between January and June, what the hell happened in that 6 month period of time? My understanding is that our national debt and budget deficits are the culprits because Bushs' policies devalued our currency worldwide, but I wonder if there is more too it as well? What is the Canadian government doing to exacerbate this situation or help ease it, do they dislike a strong Canadian dollar as much as we US hobbyists do? If this continues won't it will kill US tourism in Canada?

    Envy of the world, Indeed!
    Last edited by HonestAbe; 01-07-2006 at 06:21 AM.
    "I can picture every move that a man could make
    getting lost in her loving is your first mistake

    Sometimes I think its a sin
    When I feel like I'm winning when I'm losing again"

  6. #6

    Perhaps you've stumbled on to something here?

    Quote Originally Posted by regnad
    Cheney and friends looting of it
    Wasn't '03 the year all the Wall Street scandals(Enron,Tyco,Worldcom,etc...) started piling up? Could have looked like the Stock market was going to collapse like a house of cards to foreign nations. Did foreign investors pull out of our market and exacerbate the devaluation we were experiencing already? Maybe that had something to do with it? I'm reaching I know. Its just amazing that such a huge drop would occur over 6 months. .19 was an approximately 12.33% drop in valuation between January and June of '03.
    Last edited by HonestAbe; 01-07-2006 at 08:41 AM.
    "I can picture every move that a man could make
    getting lost in her loving is your first mistake

    Sometimes I think its a sin
    When I feel like I'm winning when I'm losing again"

  7. #7
    I'm not trying to be a Bush apologist but...

    Quote Originally Posted by regnad
    which was well before Clinton fixed the economy,
    Sorry but Clinton didn't "fix" the economy - the economy of the 90's was the end result of the Reagan Revolution

    Quote Originally Posted by HonestAbe
    Wasn't '03 the year all the Wall Street scandals(Enron,Tyco,Worldcom,etc...) started piling up?
    The accounting scandals started piling up in 2001 just after Bush took office. They came to light just prior to and after 9/11 due to the bump in the economy but resulted from several previous years (read pre-Bush) of cooking the books

  8. #8
    Because of my occupation i spend 70% of my time in the U.S. but according to my contract i am paid in c.d.n.$ so thank you Mr Bush for putting money in my pocket

  9. #9
    Registered User
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    Big Max index

    Well before the canadian dollar started to climb up again, to reasonable value, i read an article about a Big Mac index.

    Apparently, for more than 10 years now, prices of Big Mac are compare all over the world and an index has been created.

    At the time, the canadian Price shoul have been established at $ 0.85cents compare to US prices

    This was like 9 cents more than the value of canadian $ vs USD.
    The reporter said to be prepare to see a rise in canadian dollar over next few years if the Big Mac index was right.

    This is a difficult subject for me to explain.
    Maybe other members have heard about it and can do a better job of it.

    Another factor is: Paul Martin maybe a very ordinary prime minister, but as a finance minister, he did pay off $ 60 billion dollar of the Canadian debt.
    Maybe markets start to pay attention
    Miko
    Asian ladies Latina ladies Black ladies Caucasian ladies East Indian ladies

  10. #10

    Wink How much is the price of a Big Mac in India?

    Quote Originally Posted by miko

    Apparently, for more than 10 years now, prices of Big Mac are compare all over the world and an index has been created.

    At the time, the canadian Price shoul have been established at $ 0.85cents compare to US prices
    An interesting concept Miko, thanks for sharing it. I don't quite understand it either,especially in light of the part about an .85 cent Big Mac. I don't go to McD's very often but I'm going to go out on a limb and say that a Big Mac is at least a $4 sandwich, probably $5.50 as a value meal(with drink and fries). Perhaps we need an SP index?
    "I can picture every move that a man could make
    getting lost in her loving is your first mistake

    Sometimes I think its a sin
    When I feel like I'm winning when I'm losing again"

  11. #11
    Veteran of Misadventures
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    The Good Ole Days Are Gone

    I come from the "what have you done for me lately" school, and all I know is that the US dollar as compared to the Canadian is on a downward spiral since 2001, with no end to the trend in sight. It's really quite upsetting because back in the day, I used to be able to book 2 hour HDH dates and $450(CDN) would only cost me $290 US. I would like to see those days return. I miss them, and my sentimental yearnings need to be satisfied.

  12. #12
    Quote Originally Posted by EagerBeaver
    I miss them, and my sentimental yearnings need to be satisfied.
    I've never seen that side of you EB. Is there a Dick Vermeil in you that we don't know about?

    I too would like to see those favorable exchange rates return. Not only has the exchange rate taken a toll on many US hobbyist budgets, HDH's have been raising their rates substantially over the past few years. That same 2 hr. HDH experience you mention at $450 CAD ($290USD) is now more like $550 or $600 CAD and with the devalued USD we are paying $500+ USD for these encounters.
    "I can picture every move that a man could make
    getting lost in her loving is your first mistake

    Sometimes I think its a sin
    When I feel like I'm winning when I'm losing again"

  13. #13
    there are 2 main reasons for the success in the Canadian Dollar

    1) several years ago Canada eliminated it's annual budget deficit ... that means the federal government takes in more tax dollars each year than it pays out in programs ..... also some of the extra money each year is used to pay down the accumulated national debt .... Canada is the ONLY G7 nation to do this

    with the USA every year there is big talk about the next great program to reduce / eliminate the annual deficit .... all BS ... the annual deficit is a joke in the USA .... keeps going higher every year ... hell will freeze over before the annual deficit is eliminated in the USA .... that event will occur when the rest of the world calls in their loans .. the US Government finances their insane spending by selling debt instruments like treasury bonds and treasury bills .... the majority of these are bought by foreign countries (they believe that the US is a safe place to invest ) ... just an illusion .... when payment in full on these loans is demanded the USA will experience times that will make the great depression look like a picnic

    2) the Canadian dollar began its latest run a few years ago at the same time the Oil Company stocks started their current run .... oil stocks are up over 300% in the last few years .... the Canadian Dollar is seen world wide as a petro currency .... the USA's #1 source for crude oil is Canada ... by conservative estimates the oil sands in Canada are the 2nd largest source of crude oil in the world ... by more normal measurements they are number 1 in the world ... larger than Saudi Arabia .... in the past Saudi Arabia had the upper hand since it only cost them $5 a barrel to get the oil out of the ground .... the oil sands in Canada cost $25-$30 ... so when crude oil prices were low ($10 to $20) Canada could not compete .... but now new technologies keep bringing that cost lower and lower ... and with demand now putting the price for cude oil at $65+ per barrel every major oil company in Canada and the US and now even China are getting into the oil sands in Canada ..... all this makes the Canadain dollar the #1 world currency to own

    most world currencies including the US dollar are backed by BS (US Gold reserves come nowhere close to paying the US debt ) .... the Canadian currency is backed by crude oil as well as so many other great resources in the ground and a government that does not run annual deficits

    warning: the day the world calls in their US loans ... the US will try to get out of their mess by invading and taking over Canada ... this is 100% certain ... the real wealth is all in the ground
    The_Seeker

  14. #14
    global news in Canada just last week reported that the USA had a plan in effect to invade and take over Canada during the depression in the 1930's .... documents recently declassified

    the 1930's are nothing compared to what is coming when the current bills have to be paid by the USA ... you can not live on your credit cards forever ... you have to pay your bills eventually and the USA can not do so .... Canada's natural resource wealth looked great to the USA back in the 1930's the last time they got in trouble and Canada will look even better to take over next time the financial shit hits the fan in the USA
    The_Seeker

  15. #15

    Invade Canada? No way, don't need to.

    Thanks for the informative post seeker,

    What/Where exactly are these "oil sands?" As far as balancing our budget here in the US it is not impossible, we just need a leader who believes in it. Clinton did it and had us on track to pay off our National debt within a couple of decades if we kept paying it down at the pace we were. Bush totally destroyed all of the efforts to do this with his tax cuts and spending policies.

    As far as the rest of the world calling in our debt, come on, what are they going to do if we tell them to stick it up their asses, invade? Invading Canada won't be necessary. We could simply start fresh with a new currency just for commerce within our country, and Canada. The rest of the world would be able to do little about it. We control a huge percentage of the worlds food supply so we won't starve. We can easily comandeer all the oil tankers and offshore platforms we need to supply our energy needs and as for jobs we can go back to making our own worthless junk instead of having China and India do it for us. The rest of the world when faced with the reality that they aren't going to get blood out of a stone would back off any such demand quickly since they know they have few cards to play and in the end they need us more than we need them.

    Simple fact is that if the US economy goes down in flames the rest of the world is going with us. I'm not saying I would advocate this kind of dishonorable behavior on our part, just that invading Canada is probably the last thing we would ever have to do. Canada would quickly become the new "Switzerland" by declaring neutrality when faced with such a scenario and who could blame them? After all no nation in its right mind would choose to be staring down the barrel of our collective military "gun." Hope this isn't too upsetting to anyone, but its just a fact that we have more than enough military power to secure whatever we need that we don't already have here and not even Russia would stand against us because they know it would be a losing battle and there is nothing in it for them. Mexicos' government acts like our bitch, so they will give us whatever we want to keep from getting stomped on and Canadas politicians would look the other way to avoid looking weak.

    Again, I'm not saying I agree with such actions but you can bet your ass that there is no way that this countries wealthy and powerful elite are going to go down in flames over a little thing like "national debt." Especially when its a bunch of people with different colored skin who speak funny languages telling us to pay up. Again, I'm not saying I would advocate this, just that the complete lack of regard for the debt that Bush keeps running up like we will never have to pay it means one thing and one thing only. He has no intention of paying it if it "comes due." Its just a logical conclusion if your a follower of Bush ideology, your either with us or your against us right? What names do you suppose he would use to describe countries which tried to financially ruin us? Terrorists, the Axis of Evil? You bet. This is why no one would ever dare to call in our national debt.
    "I can picture every move that a man could make
    getting lost in her loving is your first mistake

    Sometimes I think its a sin
    When I feel like I'm winning when I'm losing again"

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