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Lord Merciless
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European economy is in much worse shape than American's.
It can only get worse as you guys lose more and more competitiveness due to excessive welfare.
The only economy that is actually growing decently nowadays is China's. But they are still a long way behind.
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Tingkai
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To find the Northwest Passage
Aug 2001 time: 13:27
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It would be great if the US withdrew its overseas troops and became isolationist. A lot of the world's problems are caused by the United States. Either the US is going around invading some two-bit country for no good reason, or the rest of the world stands around and does nothing while saying the US should do something.
But an isolationist policy will never happen. The American government wants to keep other nations in- line for big business reasons. Of course the same thing happened with the British empire where the British government sent troops to support companies like the East Indies Trading Company, British drug dealers in China, etc.
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Lord Merciless
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If you believe the future will belong to Europe, that's fine with me. We can argue for the next decade without coming to any conclusion. But you Euros remind me a little of the Chinese of 1700s.
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Tingkai
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To find the Northwest Passage
Aug 2001 time: 13:27
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It's sad that people like DD don't know what their government does.
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Lancer
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Oregon Coast, USA! or Bohol, Philippines!
Apr 1999 time: 05:27
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Can't do it Diss, because the wind blows.
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Tingkai
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To find the Northwest Passage
Aug 2001 time: 13:27
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DD: Do you really think the US has never made a mistake, that it has never caused any problems, that it is just an innocent bystander responding to events, but never initiating events?
Don't get me wrong. I'm not saying that the US is evil or that everything wrong in the world is the fault of the US. Instead, I am saying the very fact that the US is the only superpower creates problems throughout the world, but not all problems. These problems are not necessarily something the US government wants.
The US decided it wanted to get rid of Saddam. Sounds great. The US got rid of an evil dictator. But now they have destabilised the region.
The US has the power to prop up various governments and it does prop up governments, eg the Saudis and Pakistan. During the post-WWII period, the US has installed and supported governments that created more problems then they solved (eg, South Vietnam). Other governments have been overthrown by US-backed forces (eg, Chile and Nicaragua).
The US policy of acting like the world's policeman means that other governments ignore problems they should be dealing with. Look at what happened in Yugoslavia. The rest of Europe sat around twiddling their thumbs waiting for the US to decide what it was going to do.
Is the US completely to blame for this? No. Is the US a root cause of this problem? Sometimes, yes.
But this whole discussion is pointless because the US would never be able to persue an isolationist policy. American corporations have global interests and they have the power to lobby the US government to act internationally.
A bigger question is whether the US government should persue a unilateralist foreign policy or a multilaterist policy.
If the US wants to go around doing what it wants to do then don't expect universal support from other countries.
A better option is the multilateralist approach. Yes, it takes longer. Yes, sometimes things won't go the way the US wants it to go. But in the long run it will be better just as democracy is better than a dictatorship even if it takes longer to make decisions.
However, this is not a black or white issue. The US needs to show the rest of the world that there will be times when it will not come to the rescue. The US needs to say, at the right time, this is your problem, deal with it. That's the only way to get areas like Europe to start carrying their fair share.
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Frogman
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Isolationist now? We have the best foreign invasion army in the world. What a waste it would be to close up shop now when we will never be this dominating again. We might as well kick all the *ss we can now. We got Cuba, Syria, NK, and Iran still to invade before wmd get any more numerous. I think GWB can do it if we give him 4 more years.
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Lord Merciless
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If the Shiites really get out of control, we just encourage the Sunnis and Kurds to go their own way.s We will also give the Rumailah oil fields to the Kuwaitis as war reparation. If the Shia state decides to attack, we will get our chance to crush them and shoot all those crazy clerics.
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Tingkai
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To find the Northwest Passage
Aug 2001 time: 13:27
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The Euro exchange rate has increased from 90 cents US a year ago to about US$1.10. Seems like the Euro is the currency to hold.
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Lord Merciless
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quote: Originally posted by Tingkai
The Euro exchange rate has increased from 90 cents US a year ago to about US$1.10. Seems like the Euro is the currency to hold. |
Doesn't mean anything. In the mid 80s, the US Dollar soared to amazing height, just to fall totally flat a few years later.
For a while in early nineteeth, the Dollar fell to much lower level than today, only to recover few years later.
The economic foundation of a country is everything. With unemployment above 10%, net capital outflow, record bankrupcy level, and exorbant job creation costs, France and Germany won't go very far. Nobody will be sucking up to losers.
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Tingkai
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To find the Northwest Passage
Aug 2001 time: 13:27
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quote: Originally posted by Lord Merciless
Doesn't mean anything. In the mid 80s, the US Dollar soared to amazing height, just to fall totally flat a few years later.
For a while in early nineteeth, the Dollar fell to much lower level than today, only to recover few years later.
The economic foundation of a country is everything. With unemployment above 10%, net capital outflow, record bankrupcy level, and exorbant job creation costs, France and Germany won't go very far. Nobody will be sucking up to losers. |
It doesn't mean anything? Do the math. If you took US$10,000 and changed it into Euros a year ago and a year later switched it back to US$, you would have made a profit of 21%.
And why did that happen? It wasn't because of a change in the "economic foundation of a country". The Euro's value has increased because the uncertainty of the US economy.
That uncertainty is still there as investors are not completely sure about what the Bush administration will do next.
Mind you, war victories are always good for the US stock market. I figure US stocks could be attractive in September, assuming the US doesn't start another war.
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Lord Merciless
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As I have pointed with past examples, fluctuations in currency values are normal.
Anyone who believe that Euro will replace the Dollar as the new global currency should look at the economic realities of France and Germany.
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All times are GMT. The time now is 05:27. Apolyton Time is 00:27. |
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