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runner140 | Good Morning..... | ||
Master Guru
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The decline in US home prices accelerated in the fourth quarter, according to two leading barometers. One index, the S&P Shiller /Case, fell 8.9% and consumer confidence fell sharply in February.
Clinton sought to slow Obama before March 4th primarys with the final debate. The Dow ind. rose 114.70 points to 12684.92...the dollor hit a new low against the Euro which pased 150 in late trading. A major power outage in Florida yesterday left millions without power. thought it was just my office, then just the building, then just Ft. Lauderdale, and then it was 75% of Florida. The UAW went on strike at American Axle. A prolonged walkout could affect GM and Chrysler. |
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Posted on: 2008/2/27 12:29
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cmashark | RE:Good Morning..... | ||
Guru
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ok, i'm a little money stupid.....what do we have to do to get the dollar to start gaining on the euro?
chris |
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Posted on: 2008/2/27 14:40
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1987 Coupe 2 tone white/silver, auto, Z52. bone stock, except for Flowmaster catback and precats eliminated. |
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runner140 | RE:Good Morning..... | ||
Master Guru
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Quote:
ok, i'm a little money stupid.....what do we have to do to get the dollar to start gaining on the euro? Most traders were looking for the 150 level to get crossed. If I had to guess, it would be 152-153. Crazy numbers this week, dollar at a 40 year low, gold at an all time high, and oil also at an all time high BUT the market is up four days in a row. More questions than answers. |
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Posted on: 2008/2/27 15:18
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DaleD | RE:Good Morning..... | ||
Senior Guru
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That's not a stupid question. As I understand it, the way to strengthen a currency is to raise interest rates your banks will pay those who hold your currency. If I can only get 3% on the dollars I hold, but 5% on the euros, it's a no brainer. Well, since the euro pays more, more want it, supply and demand.
But with the housing crisis, our government is trying to keep rates low to enable people to refinance and not leave banks with a glut of houses. And low rates keeps Wall Street pacified so the market doesn't tank. If I can get 5% at the bank, it starts to look good compared to this volitile market. Also, if you raise rates, it hurts exports. If you strengthen the dollar, then our goods cost more in other countries. Keeping rates low, fuels inflation. Lots of currency available for a low price, makes the dollar weak, or cheap. Takes more dollars to buy something, and it gets into a cycle. Another thing that gums up the works is the Chinese don't float their currency. I'm not positive, but I think it's tied to the dollar. Therefore, the exchange rate of yuan to dollar is always the same. That's a problem for import/exports and trade agreements. One thing that won't help is raising taxes and taking money out of the hands of people and giving it to an extremely inefficient and corrupt government. Universal healthcare is a great idea on the surface, but ask yourself: When has the government setup a program that was efficient? When has the government done something better than the private sector? And do you really want politicians bellying up to a trough of money that would be second only to defense in total dollars spent? Sorry for the rant in the reply. |
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Posted on: 2008/2/27 15:28
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