akarunway 1 #1 September 28, 2007 isn't worth the paper it's printed on and getting worsehttp://today.reuters.com/news/articleinvesting.aspx?type=bondsNews&storyID=2007-09-28T003622Z_01_N27415556_RTRIDST_0_USA-CONGRESS-DEBT-UPDATE-1.XMLI hold it true, whate'er befall; I feel it, when I sorrow most; 'Tis better to have loved and lost Than never to have loved at all. Quote Share this post Link to post Share on other sites
1969912 0 #2 September 28, 2007 Here are some historical figures re: exchange rate between the UK Pound and the US Dollar. Comparison with the Euro looks similar but only goes back to 1999. FROM: http://www.measuringworth.com/calculators/compare/ (there is an exchange rate calculator there) The table(s) present the price of one United States Dollar. United Kingdom, 1970 - 2006 1970 0.4174 British Pound 1971 0.4092 British Pound 1972 0.3998 British Pound 1973 0.4080 British Pound 1974 0.4274 British Pound 1975 0.4500 British Pound 1976 0.5540 British Pound 1977 0.5731 British Pound 1978 0.5214 British Pound 1979 0.4713 British Pound 1980 0.4299 British Pound 1981 0.4941 British Pound 1982 0.5721 British Pound 1983 0.6596 British Pound 1984 0.7479 British Pound 1985 0.7710 British Pound 1986 0.6812 British Pound 1987 0.6098 British Pound 1988 0.5615 British Pound 1989 0.6105 British Pound 1990 0.5605 British Pound 1991 0.5659 British Pound 1992 0.5663 British Pound 1993 0.6658 British Pound 1994 0.6527 British Pound 1995 0.6333 British Pound 1996 0.6406 British Pound 1997 0.6105 British Pound 1998 0.6035 British Pound 1999 0.6184 British Pound 2000 0.6598 British Pound 2001 0.6946 British Pound 2002 0.6656 British Pound 2003 0.6117 British Pound 2004 0.5456 British Pound 2005 0.5493 British Pound 2006 0.5425 British Pound "Once we got to the point where twenty/something's needed a place on the corner that changed the oil in their cars we were doomed . . ." -NickDG Quote Share this post Link to post Share on other sites
kallend 2,150 #3 September 28, 2007 QuoteHere are some historical figures re: exchange rate between the UK Pound and the US Dollar. Comparison with the Euro looks similar but only goes back to 1999. FROM: http://www.measuringworth.com/calculators/compare/ (there is an exchange rate calculator there) The table(s) present the price of one United States Dollar. United Kingdom, 1970 - 2006 1970 0.4174 British Pound 1971 0.4092 British Pound 1972 0.3998 British Pound 1973 0.4080 British Pound 1974 0.4274 British Pound 1975 0.4500 British Pound 1976 0.5540 British Pound 1977 0.5731 British Pound 1978 0.5214 British Pound 1979 0.4713 British Pound 1980 0.4299 British Pound 1981 0.4941 British Pound 1982 0.5721 British Pound 1983 0.6596 British Pound 1984 0.7479 British Pound 1985 0.7710 British Pound 1986 0.6812 British Pound 1987 0.6098 British Pound 1988 0.5615 British Pound 1989 0.6105 British Pound 1990 0.5605 British Pound 1991 0.5659 British Pound 1992 0.5663 British Pound 1993 0.6658 British Pound 1994 0.6527 British Pound 1995 0.6333 British Pound 1996 0.6406 British Pound 1997 0.6105 British Pound 1998 0.6035 British Pound 1999 0.6184 British Pound 2000 0.6598 British Pound 2001 0.6946 British Pound 2002 0.6656 British Pound 2003 0.6117 British Pound 2004 0.5456 British Pound 2005 0.5493 British Pound 2006 0.5425 British Pound Today 0.4942 British Pound... The only sure way to survive a canopy collision is not to have one. Quote Share this post Link to post Share on other sites
lawrocket 3 #4 September 28, 2007 I do have a bit of doubt that we are in a situation that approaches something like Albania in 1997. If you'll recall, once the Albanian economy became capitalist, it became almost unregulated capitalist. Since the population had not yet been exposed to pyramid schemes, the MAJORITY of the population bought into them. Two of the schemes had, between them, 2 million "investors." Out of a population of 3.5 million people. Albanians sold houses and property and livestock to get money to invest in the schemes. A true MANIA occurred. Seeing as how 80-90 percent of people in a pyramid scheme will lose money, the winners take the money and run. Thus, there were no assets backing the Albanian! The perceived wealth drops dramatically, meaning inflation and the like. Now, there are similarities to this in the US. The collapse of a pyramid is like the bursting of a bubble economy. For five years, the US population was in an economic bubble - believing that it was better off and worth more money than it actually was. The housing market showed that our wealth was on the basis of perceptions - foreign and domestic. American homeowners had plenty of scratch in their houses. They could take that money out, pay off debts, remodel, etc. An expert witness I examined in court just one week ago informed the court that in 2003-2005, "If a person wanted to buy a home, a company would find a loan. Anybody could get money." This was on the basis of the perceived wealth of the housing market. Guess how the dollar's value is based. Perceived wealth. The value of the dollar has been dropping since 2001 - after the tech bubble burst and the 9/11 attacks. But note what employment has been - pretty good. The devalued dollar has other positive effects. It makes American goods less expensive than foreign goods. I'm not especially concerned about the devalued dollar. My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
