[HUG ] Re: The falling dollar/ photos vs digipics

Bernard,

Is it possible that you respect Jims wishes and stop this non photographic 
topic?

It has been asked several times before.
Please check this thread and do not post these posts for the second time.

Richard 
  ----- Original Message ----- 
  From: Bernard Ferster 
  To: hasselblad@xxxxxxxxxxxxx 
  Sent: Tuesday, May 06, 2008 11:54 PM
  Subject: [HUG ] Re: The falling dollar/ photos vs digipics


  At 01:36 AM 5/6/2008, you wrote:

    At 02:21 AM 5/6/2008, JAMES WILLIAMS wrote:

      The sagging of the US dollar is more political than economical, the US 
government likes our dollar worth less because then other countries will buy 
our goods. They are more concerned with making companies more money( you know 
the trickle down effect, lol). Hope I did not push anyones buttons, but 
sometime the truth hurts lol. But the real question is what is the truth? lol


    That is hardly "truth":  it is wild lunacy.  The US government does not 
control the value of the dollar in international trade;  that is set by the 
free market.

  Not entirely so. The Administration has let the market to do it's worst, but 
there was much it could have done to bolster the value of the dollar. Like 
better control of interest rates, paying for the expenses of Mr. Bush's war by 
increasing taxes instead of resorting to borrowing, slowing down import of oil, 
and other devices best explained by an economist.


    The dollar has recently fallen for a number of reasons.  One primary cause 
is the insistence of the oil market to continue to peg the price of crude oil 
in US dollars:  as the Chinese demand for oil has gone up, this has pressured 
the dollar to decline in value relative to the Chinese Yuan and, then, to the 
British Pound and to the Euro.  There are other causes, but they are of a like 
nature.  The feeding frenzy of our government (Republican and Democrat Parties 
alike) has not helped, nor have the costs of the Wars in South-East Asia.

  You have the basic idea. But each of the items you mentioned, with the 
exception, perhaps, of Chinese behavior, is subject to influence by 
Administration practices. (Oh yes, the Bushies among us will share the blame 
with the Congress, forgetting that the veto power is in the White House. A 
fuller explanation is available, off line, to Subjects of the Queen, and folk 
from Parliamentary nations.)


    In the short run, the cheap dollar will benefit the US.  Our goods will 
cost less overseas and we will have to pay more for imports.  That will help to 
adjust the balance of trade problem we have had since the days of Lyndon 
Johnson.  In the long run, the dollar will rebound.

  John Maynard Keynes said, with irrefutable accuracy, that "In the long run we 
are all dead." In the short run, foreigners touring the US are finding great 
bargains.

  Those of our members who point out that the world has far more pressing 
problems that the success of H are quite correct and to be honored for their 
humanity. Alas, we can not even keep a small camera company alive - how ever do 
we control genocide, aggressive war and greedy gas gobbling SUV owners.


  ...........................B.F..........................

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