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Who really cares? Tourism does not bring wealth to the local economy, manufacturing does. Hospitality employees are low-paid and most of that tourist cash goes to big corporations who own hotels and attractions, and local governments. The other thing is that the Euro will be falling in the future as well. Florida is definately going to suffer.
yep its guna hit tourism big time. here too.
2/3 of US economy is consumerism. high gas prices spell the end. greed has a way
of doing that, destroying itself. that is the bad news, the good news, bunch of guys on camels with single shot rifles won't get into much trouble.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,752,651 times
Reputation: 3587
Quote:
Originally Posted by ExcellentFudge
The Europeans and Canadians will save us. We have to count on it.
They always have when it come to tourist dollars. The average European gets much more vacation time than most Americans do and the resorts have always courted them heavily.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,259 posts, read 24,752,651 times
Reputation: 3587
Quote:
Originally Posted by ViewFromThePeak
How so if the ECB is standing pat on rates?
The Euro is not going to falling anytime soon. Not as long as Bernanke and Co are running trillions and trillions of new dollars off the printing presses.
The Euro is not going to falling anytime soon. Not as long as Bernanke and Co are running trillions and trillions of new dollars off the printing presses.
It was my understanding that several EU countries want out of the deal. I am thinking of long term, in the future.
I live near the FL panhandle and once a year I take a vacation to eastern Tennessee. I usually rent a vehicle anyways, so this time I may go to Hertz and rent a Prius. Gas prices won't affect my vacation.
The Euro is not going to falling anytime soon. Not as long as Bernanke and Co are running trillions and trillions of new dollars off the printing presses.
Looks like what we have here is another bone-headed "internet economist." I got my economics degree from the University of Cincinnati, where'd you get yours? Peel it off of a bottle of Budwater did you?
The undisputed facts are that during the 8 years of the Clinton Administration the annual currency inflation rate was 2.9%; during the Bush Administration to date; 2.9%; since 1974 it's averaged 3.9% annually.
What that means in layman's terms is that $100 in 1974 would be worth only $27 today.
Since 1974 the currency inflation rate in the United Kingdom has been 6.3%. That means ₤100 is now worth ₤9.
So, if you think the Federal Reserve is doing such a poor job, why don't you trade them for the UK's central bank? How about Spain or Italy where the central banks has done such a fantastic job that between 1980-2000 the Peseta and the Lira lost 70% of their value?
I know, you're really jealous of Romania's central bank. Since the introduction of the Leu Greu in 2005 the annual inflation rate has been 14%.
It looks like you proved your point that Bernanke & Co are denying you and other Americans your god-given right to suffer hyper-inflation. I'm sure Ron Paul or Congress could a better job and guarantee an inflation rate of at least 22% per year. You won't mind living in a card board box and eating Ramen noodles for breakfast, lunch and dinner.
And contrary to your misinformed beliefs, the Federal Reserve does not and is not authorized to print money, only the US Treasury Department can do that, or did you never read the US Constitution?
Quote:
During fiscal year 2007, the Bureau of Engraving and Printing (BEP) produced approximately 38 million notes a day with a face value of approximately $750 million.
That would be about $2.73 Billion per year, a far cry from the trillions and trillions you claim, but it seem you forgot or were never aware that the Treasury Department also destroys $Millions in currency each day.
The US$ is weak against the Euro because Russia and more than 60 other countries have dumped their US$ reserves and no longer buy or sell anything on the world market in US$.
Japan no longer buys its oil and natural gas from Iran in US$, it pays in Yen, and China has negotiated a deal with Iran to buy oil and natural gas in Yuan instead of US$. That will probably start June and the US$ will nose dive again.
When OPEC switches to basket currencies, the US$ will bottom out at $0.42 = €1 and that's where it will stay, unless the US starts invading countries to take over their oil, natural gas and minerals.
We were vacation in FL last summer. And there was an astounding number of UK people vacationing there. The shops all over orland/kissimmee area advertise they sell British foodstuffs. Our hotel advertised direct flights from Cardiff, Wales.
I have been told that the British are also buying much of the real estate there. And own several of the large golf courses in and around Orlando. So I think the economy may be bolstered a bit by foreign investments.
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