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Dollar weakens again

Published:

 It's 4 in the morning, I just took my 3rd Advil and still can't get rid of this headache, so I won't write too much.

.......and the LP members stand up and Hurray! 

 

but reading this headline in a Canadian online paper got me a little upset tonight

 Dollar soars beyond $1.09 U.S.

Isn't this the first time in history?  I admit political science & economics weren't my strongest subjects, but I used to travel a lot and my dollar was welcome everywhere because people knew it would grow in value. Well, I guess I won't be moving to Canada to look for cheap housing anytime soon.  Isn't it nice to know that Japan & China hold over $4 trillion of our debt? 

Don't get me started on The Federal Reserve.  The American people have been sold down the river. 

Entry #95

Comments

1.
rcbbuckeyeComment by rcbbuckeye - November 8, 2007, 8:48 am
I sell furniture for a living. What I find rather amazing is that people will come into the store and ask me where our furniture is made. If it's upholstery, all but a few pieces are made in USA, the others, China. (This brings a look of concern). If it's case goods, it's almost all from China. (This brings looks of anger and a rant about nothing is made in the US). OK, so when it's time for the customer to put his money where his mouth is, without fail, he (or she, or both) will complain about the price. The sad fact is, quality furniture is coming from China, like it or not. (I don't). That same quality furniture can not be made in the US at the same price points, and still maintain profitability. I only wish I had a viable solution, but I don't. Like it or not, we ARE in a GLOBAL market. And just wait a little longer; we are going to be seeing Chinese cars on the roads.

Ron
2.
justxploringComment by justxploring - November 8, 2007, 1:11 pm
Headache still there. Feel like crap. Speaking of crap...I appreciate your reply Ron. Nice to meet you.

I sold furniture for years (1998 to 2005) and worked for 3 of them at a high end store, so I already know that. Don't remind me of the times I told someone "8 to 10 weeks" and 4 months later their bedroom set was sitting on a boat somewhere. Importing furniture from China isn't anything new, but I wouldn't call it good quality. IMHO, we are adjusting our standard of workmanship to accept poorer quality.

I honestly can't write too intelligently at this moment, but I do agree with you that we can't compete and make good quality furniture, clothing, shoes or just about anything because of the cheap labor in other countries. But what is that doing to the American worker? When you used to hear the name Lexington Home Brands, you'd think of Lexington NC. After all, that's where Lexington comes from, right? In fact, they always put a "Made in the USA" tag on their pieces. Yet most of Lexington's collections are now imported from China.

First the large superstore chains ran the American businessman out of business and now the factory workers are being told they won't be coming back to work. I have an idea - why use Americans at all? We should hire Chinese soldiers to fight the War in Iraq. After all, when our men & women return home, they won't be able to afford a home or find a job anyway.

Yesterday the news showed families crying as they stood in line at the Humane Society with their pets because they can't even afford food for themselves. I thought "how can they do this? Many people are being forced out of their homes and have to move to apartments that won't allow pets. Then a woman in her 70s was interviewed - that was no act when she broke down crying. She said she had no place to live and she had to give up the only children she had. Fortunately that ended in with a happy story, because a sister offered her a home and also took the dogs. Yay!!
3.
justxploringComment by justxploring - November 8, 2007, 1:14 pm
Sorry - when I started my comment "speaking of crap" I was talking about furniture, not what you wrote, Ron!" I told you my brain isn't quite right today. I just read what I wrote and the 1st line came out wrong.
4.
truecriticComment by truecritic - November 8, 2007, 4:31 pm
When I was a kid, Canadian dollar was always worth more. I can't say if it was $1.01 or $1.09.

As to "how can they do this?"
High labor costs. They may not seem very high wnen many people can't even get an $8/hr job - but it is the other, much higher wages/salaries that are being paid. When the Median Income is $46,000/yr in the US, several countries have a big labor advantage. It is my opinion, if quality American made products were just a little higher, more Americans would buy them. It is the huge gap in retail pricing that makes them go for the imports.
5.
truecriticComment by truecritic - November 8, 2007, 4:34 pm
When I said "if quality American made products were just a little higher" I mean just a little higher than the imports.   Then Americans would be willing to buy American made. But when there is that huge gap, they do go for the imports (and honestly, I don't blame them - I am a consumer first).
6.
time*treatComment by time*treat - November 8, 2007, 7:20 pm
Quit stealing my blog-rant topics :-)
7.
rcbbuckeyeComment by rcbbuckeye - November 8, 2007, 10:21 pm
That's ok. I didn't think you meant what I wrote was crap. But I just got home from work, so my brain is a little like mush now. Reading your reply made me think of a guy here in DFW that is a car guy, over 30 years experience. He does a radio show and weekly column in the paper. Anyway, he really focuses on the economy and the auto industry along with the economy. When the auto workers went on strike then settled a couple weeks ago, this guy said that the problem with the auto industry trying to blame their problems on the workers is that it's hurting the economy. They are forcing today's workers to work for lower wages and bennies. Eventually, those workers can not afford to buy their own product. He believes that the auto industry's problems are not the fault of workers, but rather     
from years of mismanagement. It makes sense to me. I hope your headache goes away......but don't OD on painkiller!
Ron
8.
justxploringComment by justxploring - November 9, 2007, 2:55 am
Another misunderstanding, sorry. True Critic, when I said "How can they do this?" I was talking about the families turning their dogs over to the shelter. I took in a stray in April and only had her 2 days & I still feel guilty. Then I saw them and realized their financial predicament.

Time*treat - I'll have to check out your blog again. I just wrote what came to mind (the thing between my ears that shuts on & off) at 4:50am.

True Critic, I am also a consumer. I am sure many things I get at the dollar store are made in Sri Lanka. I just checked and my pants were made in Turkey. (that must account for the fowl smell. LOL) However, I buy very little. I bet they're older then many LP members. Not everything made in America is expensive. I was made in America and I'm not cheap, but I'm reasonable. :-)
9.
ToadSchmodeComment by ToadSchmode - November 16, 2007, 1:03 am
"We should hire Chinese soldiers to fight the War in Iraq. After all, when our men & women return home, they won't be able to afford a home or find a job anyway."

We have recruiting offices in other country's. Part of the deal is citizenship after they serve. I've heard the Filipinos are a large portion of new navy recruits.

To me, all this war crap is tied in with the loss of jobs. The military has to compete for workers. If the only job a young person can get is a low paying no where job ,then they talk to a recruiter offering 20g's to sign up. Which way would you go? Uncle Sam knows what he's doing!
The new transport vehicles are made in India, with china steel and delivered by the ruskies.

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