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Hey..there were those that made millions during the Great Depression.
In fact the Great Depression created more millionaires than any other time in US history.
http://ezinearticles.com/?More-Millionaires-Were-Created-During-the-Great-Depression-Than-in-Any-Other-Period&id=2643211 (broken link)
In a contracting economic environment, you WANT your currency to weaken.
The only people who are complaining about a weaker dollar are those who are hoping for Obama to fail or have no knowledge about how the global economy operates.
The dollar needs to fall more. I'm hoping for the dxy to drop to 70. That will really help our economy.
Wow, this person must work for The Fed. The dollar has lost 97% of its value under The Fed's oversight.
The few dollars we've managed to save are now worth almost nothing in buying power. The wages we get paid, which stagnated in the 1970s, now buy much less than they did then. On the other hand, the cost of EVERYTHING is up significantly.
On a nationwide scale, devaluation of the dollar will make the country's exports relatively less expensive for foreigners. But unfortunately, we don't make anything in America anymore. The percent of the GDP attributable to exports was only 11% in 2009. Exports of goods and services (% of GDP) | Data | Table
Conversely, devaluation of the dollar makes foreign products more expensive for domestic consumers. Since we still have a big trade deficit, we are importing far more than we export: "The United States reported a trade deficit equivalent to 45.76 Billion USD in February of 2011. The United States is the most significant nation in the world when it comes to international trade. For decades, it has led the world in imports." United States Balance of Trade
I guess I need to hear more from these people who claim to be so knowledgeable about the "global economy," so I can understand why devaluation of the dollar is still good despite the fact that we import far more than we export, and devaluation makes importing more expensive.
And perhaps the "good" part of my wages and savings buying a tiny fraction of what they used to can also be explained.
Thank you Republicans, your constant efforts to undue the Obama bombshell have worked well. More accomplished in 4 months than in 4 years under Democrats.
Now if we could just get back to the pre-Democrat level of 14,000+ we would be set.
Up another 115, and we temporarily crossed the 12,600 mark.
New recent market highs under Obama !!!
I don't see any posts from you when the market drops heavily. Why not?
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12,600 !!!!
