America is in DEEP DO-D0

[jmac00]

and after day, it ain't going to get better: If you don't think China is a major world economic power, your in for a rude awaking.

“The world's currency structure has changed; the dollar is losing its status as the world currency,” said Xu Jian, a Chinese central bank vice director, yesterday. “We will favor stronger currencies over weaker ones, and will readjust accordingly,” confirmed Cheng Siwei, vice chairman of China's National People's Congress, at the same conference.

And that was all she wrote for the U.S. dollar.

While China has yet to formally announce a change in its foreign exchange reserves, the allusion was enough to spook traders. Here’s the breakdown:

Euro: $1.47 -- an all-time high versus the dollar
Pound: $2.10 -- 26-year high versus the dollar
Canadian dollar: $1.10 -- rose almost 2 cents in one day, a new all-time high
Australian dollar -- 93.9 cents -- gained over a cent overnight, to a new 23-year high
Yen: 113 -- gained a full point versus the dollar to 2-month highs
The dollar fell against every other actively traded currency… 16 in all.


I read an article that called the US dollar "The Bernancke Peso"

How long do you think it will be before we, as an industry, are effected? Even if people need there furnace serviced, because of the money crunch, people will be forced to move to "lower cost" (hacks) companies.

[oloenneker]

I think I need to call my Morgan Stanley rep. tomorrow morning.

[jmac00]

I think I need to call my Morgan Stanley rep. tomorrow morning.

Morgan Stanley? I hate to say this, but TOMORROW morning is probably to late

[oloenneker]

Morgan Stanley? I hate to say this, but TOMORROW morning is probably to late

Well, yes, it might be...


But I am still gonna suggest switching the entire "portfolio" to International stocks. Might have less risk.

[jmac00]

Well, yes, it might be...


But I am still gonna suggest switching the entire "portfolio" to International stocks. Might have less risk.

Google went on sale today I suspect it's a "one day sale" so get in quick

PetroChina might be a good deal?

[mark beiser]

If we go down, the world goes down, so don't be to quick about switching whole hog to international investments!

[RoBoTeq]

Some other country was the leading world power before the U.S. became such, and some other country will be the leading world power in the future. Oh yea; life goes on.

[jmac00]

If we go down, the world goes down, so don't be to quick about switching whole hog to international investments!

no...................Like Robo said

"Some other country was the leading world power before the U.S. became such, and some other country will be the leading world power in the future."

and THAT country would be China, followed closely by India. Germany and Japan would also be another good investment.

[wallynut]

Well, yes, it might be...


But I am still gonna suggest switching the entire "portfolio" to International stocks.o

His "portfolio" Disney. Bugs Bunny Memorbilia.

[royc]

Doesnt surprise me, this has been in the making for over 50 years. Just remember something, nothing where large money is concerned, happens by accident, its so by design.

This whole world depends on one thing and thats energy, so why should it surprise anyone that we have strife in exactly the regions, that have such energy cheaply available. The brainwashed idea that the source of oil came from a bunch of dinosaures is ridicules, and of course is swallowed my the uneducated masses, if the people on TV say it is so, it must be so. Oil is abiotic and is naturaly produced by the inner core of the earth. The only reason we see a shortage of it, its because the drilling is not deep enough, and it takes time for it to seep to the surface.

The Russian's have already figured it out, and invested in to some supper deep drilling rigs, and are way ahead of us in that technology. So remember when you fill up your vehicle, the price is there by design. They just want us down to the level of the rest of the third world.

Roy

[slahac]

I for one have never heard of abiotic oil until now. Thanks! Even without this knowledge, it's pretty clear oil companies are claiming record profits, and oil is dirty when burned. The abiotic thing is amazing,but unless I misunderstand it, it is still a theory, so I will be somewhat cautious in my conclusions. Very cool! Thanks again!

[BigJon3475]

Doesn't surprise me that India or China would be a large world leader. Americans have somewhat of a unique ability to adapt so even if another country does over take as as the world power. We won't be far behind and will most definitely take advantage of it. Free trade won't seem like such a bad idea once this happens to folks.....Maybe those folks that were in power an in the "know" were already planning for this.

[RoBoTeq]

no...................Like Robo said



and THAT country would be China, followed closely by India. Germany and Japan would also be another good investment.

The Chinese are too overall bigoted to be a world power. More then likely, China will be closing its doors to the world within the next two decades just as it has done before. China has a habit of opening itself up to the world once in a while just to catch up on technology, then closing it's doors so that other cultural influences are not as influential to the Chinese people.

India also is not a country that is ready to diversify to being a world leader. If we are not careful though, the world could become a Muslim unity.