Monday, December 3, 2007

Everything's great!

First visitor from Jordan!
Yay, Flags of many Lands!™

The economy is going great! If you don't believe me, look at the GDP! Growing at a yearly rate of 4.9% in the third quarter, adjusted up from the early 3.9% report.

Yay, economy!

I personally don't see that much of it, maybe because I'm a dirty liberal who doesn't want to believe in the terrific power of massive tax cuts for the rich and drips and drops for regular folk. I do notice more and more people of all ages on creepy ass blue tooth phones, which could be a sign of an improving economy. Or a sign of the apocalypse. Whatever.

(Side note: California is making it illegal to speak on cell phones while driving as of Jan. 1, unless it's a hands free set. More creepy ass blue tooth phones. I think it's the apocalypse. Your mileage may vary.)

You might feel a little bit like this picture, but that's only if you buy stuff that is made overseas. But we all buy American, don't we? Buying stuff made in China? Haw, haw, haw! Why would we do that? They're commies, for chrissakes!

Here's what's happened to the dollar vis-a-vis the currencies shown on the website. Every one of the twelve is up against the dollar over the past year. Here are the percentage increases.

Brazilian Reals 26.4%
Canadian $ 17.0%
Indian Rupee 14.3%
Aussie $ 13.2%
Euro 11.5%
Russian Ruble 7.6%
Swiss Franc 6.3%
Chinese Yuan 6.2%
S. African Rand 5.9%
British Pound 4.1%
Japanese Yen 4.1%
Mexican Peso 1.0%

But things are going great! Yay, the economy!

Now playing: The O'Jays - For The Love Of Money
via FoxyTunes


Dr. Monkey Von Monkerstein said...

How the dollar doing against the Bhat?

Matty Boy said...

Iassume this is your typical monkey shines question, but in case it's not, the Thai money is up about 13.9% since this time last year. Kitco doesn't cover it, but the info can be found online.

pissed off patricia said...

Sadly, most of what americans buy is on credit. They buy of a lot of the "must haves" even if they have not.

Matty Boy said...

I live a relatively frugal lifestyle on an income that is over the median for the country and my expensive region, but not over the median for my age group in my expensive region. I don't have a car, so no car payment or insurance, but I am paying off a student loan that is about what a car payment and insurance would be. No big ticket items, no health insurance, which is a problem right now. I also keep my *ONE* credit card balance down to under $100 a month.

All that said, I'm just getting by and not saving very much. What it's like for others I can only guess, but a lot of people have to be drowning in credit and debt.

FranIAm said...

Oh Matty, you and your predisposition to the "truth".

Deep sigh.

We are so screwed. Someday I might write about how money has (not) worked in my life.

But the mantra for our nation is still- Save the country! Go shopping!

dguzman said...

Matty, I too live a credit-free life, and I like it. Sure, I had my days of overspending and credit woes, and thank goodness they're behind me.

I love it when these Bushco-types shout about patriotism and then go buy everything at Wal(China)Mart. Makes me laugh my ass off. My commie liberal gigantic child bride and I try never to buy anything that's made overseas. So who's the real patriot?

Matty Boy said...

Not surprisingly, I agree with FranIAm and dguzman on this topic. Our reliance on China for consumer goods is just one example of the bat-shit craziness that is 21st Century U.S. of A.

jolie said...

in this alice-in-wonderland country and according to bu$hco, I am not a good american because I didn't go shopping as exhorted after september 11. I pay off whatever I charge on my credit cards each month and, except for a mortgage, refuse to incur debt.

this careful lifestyle was once the gold standard. it's what my parents aimed for and how most of us were raised, I'm guessing. but boy-howdy has bush changed the target.

my father, life-long republican, is rolling over in his grave.

Distributorcap said...

do we outsource the printing of money yet??? i am sure that is next...

what great economy ---- come ask the 5000 people standing on line for 50 city jobs at the school around the corner from me

Anonymous said...

I'm amazed. This credit card debt has gotta come home to roost and thanks to this administration no one can go bankrupt. So what's next. Banks take our property or what? And when they do, how do they find a buyer for it? Anyone check the housing market lately? Worst year in 45 years according to National Association of Realtors. We can all thank that moron in the White House.

Jess Wundrun said...

matty, I'm a little sad that your momentary troll slappy isn't back here for this discussion. The devaluation and lack of confidence in the dollar is such a huge thing. Sadly, I am a mathmatic ignoramus so I can't effectively explain why the valuation of the dollar is important. But I do know that if you have been comfortable travelling in the past knowing that you could buy anything with greenbacks that when the day comes when they say 'nein', well that just means we handed over the keys to the Empire. It is just over.

sfmike said...

Thank god for Mexico.

Matty Boy said...

Hey, Jess. The troll showed up on one of my posts a few days after everybody was finished with the topic.

People will take our money and I don't see that changing. It's just that foreign goods are going to cost more. Even the Chinese, who were trying to keep the dollar and the yuan on an artificial equal footing, finally gave up on that idea in 2005 and the yuan has gained value since then.

When crude oil is no longer priced in dollars for every sale, which is the true weapon of mass destruction Chavez and Putin and Ahmadinejad want to unleash, then the dollar will see a serious freefall.

I'm a cheerful motherfucker, ain't I?