Inside USA - Buffalo blues - 14 June 08 Part 2

The sinking US economy is perhaps the most important issue in the presidential race. On this week's inside USA, we travel to the city of Buffalo, New York to see how the city is weathering the economic storm.

Category:

News & Politics

Tags:

• Inside
• USA
• Buffalo
• US
• economy
• recession

[ddeadhead]

obama wins hell ya for everyone jerry gooooooooooooooooo

[cinderskenney]

we need more trains.

[cinderskenney]

we're going to have to find another way of life without oil for fuel. sail boats?

[CrazyDo91]

that one "fishing" guy sounded like he had a Country accent...??..hmmm funny

[lastnymleft]

"when a currency is weak, it is ALWAYS in relationship to another currency"

Right. Name one currency against which the USD have been strengthening.

I provided a graph of the USD relative to other major currencies, back to 1971. Take another look. It has declined seriously against ALL of them. And this is despite other central banks inflating their currencies to reduce the disparity.

This is why Saddam switched from USD to Euro. (Just prior to invasion). Iran is switching now, too. Etc.

[Renegen1]

Here's a rebuttal, go back to econ 101 and learn 1) how currencies work, 2) how reserve currencies work. Here's a hint, when a currency is weak, it is ALWAYS in relationship to another currency. Trust me, for you to reveal yourself so foolish no rebuttal would be necessary because you've shown to be completely ignorant of the subject matter, it's meaningless to debate.

[lastnymleft]

So, that's it? No rebuttal of my specific points? Just ad-hominem?

Very telling.

[Renegen1]

Haha, go back to Econ 101, I won't need to say much, you pretty much revealed your economic ignorance.

[lastnymleft]

"commodity prices are high across the world"

OF COURSE they are high across the world, commodities are traded internationally in *USD*! That's the whole point of it being "the world's reserve currency"

That means when India sells rice to the Philippines, or Norway sells oil to Japan, or Australia sells iron ore to China, they are sold in terms of USD. So when the USD is made to decline, more are required to pay for the commodity. And that price is passed on. A debased USD raises ALL prices

[Renegen1]

You're not helping your case and you look like a crackpot more every post, commodity prices are high across the world, I've said it before too.