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The time is now 6:32 am
You last visited
May 9, 2024, 3:26 am
All times shown are
Eastern Time (GMT-5:00)
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
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.
Comments
Ron
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!!
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.
from years of mismanagement. It makes sense to me. I hope your headache goes away......but don't OD on painkiller!
Ron
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. :-)
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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