USD/Euro parity

[Axulus]

It's happening fast, currently at ~$1.055 to 1 Euro. We may see parity by the end of the month.

It will be a headwind to US growth as our exports become more expensive. However, it will keep the cost of imports down and therefore help keep inflation in check.

Finally, I think it is a big sign to all the chicken littles who constantly beat the drum of the imminent "collapse" of the USD (the boneyard bills) how wrong they were. The USD remains as strong and as prominent as ever. The lesson here: folks like Glenn Beck, Peter Schiff and many others who implored you to dump your dollars, stock up on canned goods and buy gold are just modern day snake oil salesman.

The US economy is the fastest growing large developed economy (in comparison to Eurozone, Japan, etc.) and has been for a number of years and will likely remain so for several more years.

 

[Tom Sawyer]

Ya, but don't forget that Putin has a secret plan to crash the US dollar and he's a heroic genius who outmaneuvers everybody by being so awesome. Or rather, he had a plan to do that but doesn't have the money to implement it at the moment.

 

[laughing dog]

It's happening fast, currently at ~$1.055 to 1 Euro. We may see parity by the end of the month.

It will be a headwind to US growth as our exports become more expensive. However, it will keep the cost of imports down and therefore help keep inflation in check.

Finally, I think it is a big sign to all the chicken littles who constantly beat the drum of the imminent "collapse" of the USD (the boneyard bills) how wrong they were. The USD remains as strong and as prominent as ever. The lesson here: folks like Glenn Beck, Peter Schiff and many others who implored you to dump your dollars, stock up on canned goods and buy gold are just modern day snake oil salesman.

The US economy is the fastest growing large developed economy (in comparison to Eurozone, Japan, etc.) and has been for a number of years and will likely remain so for several more years.

What? You are ignoring the very real large inflation threat sometime in the next 100 years.

 

[tupac chopra]

It's happening fast, currently at ~$1.055 to 1 Euro. We may see parity by the end of the month.

It will be a headwind to US growth as our exports become more expensive. However, it will keep the cost of imports down and therefore help keep inflation in check.

Finally, I think it is a big sign to all the chicken littles who constantly beat the drum of the imminent "collapse" of the USD (the boneyard bills) how wrong they were. The USD remains as strong and as prominent as ever.

Well if anyone was predicting an imminent collapse then that would have been silly. Were any of these people really predciting an imminent collapse?

The lesson here: folks like Glenn Beck, Peter Schiff and many others who implored you to dump your dollars, stock up on canned goods and buy gold are just modern day snake oil salesman.

I don't know all these people or what they say but I do know that if you had followed Peter Schiff's advice before the sub prime crisis you would have done very well.
Has he been saying that one day the USD will collapse of that it's collapse is imminent? All currencies eventually collapse and no currency stays reserve currency forever.

The US economy is the fastest growing large developed economy (in comparison to Eurozone, Japan, etc.) and has been for a number of years and will likely remain so for several more years.

That's true but comparing it to Japan and Europe isn't that convincing. Plus it has taken an enormous amount of QE to achieve this over a very long period, and it seems to have benefited the wealthy rather than ordinary Americans

 

[Axulus]

Well if anyone was predicting an imminet collapse then that would have been silly. Were any of these people really predciting an imminent collapse?

The fear mongering they were using implied it would happen any day, as in within the next year or two.

I don't know all these people or what they say but I do know that if you had followed Peter Schiff's advice before the sub prime crisis you would have done very well.

Was he right because he knew better or just lucky? We was abysmally wrong in his advice in the years since.

All currencies eventually collapse and no currency stays reserve currency forever.

Not being a reserve currency will not lead to a "collapse". Economic studies suggest that the USD being the currency of choice to settle many international transactions boosts the buying power of the USD by about 4%. A nice cost free boost to American standard of living, but not the end of the world if it ever diminishes or goes away.

That's true but comparing it to Japan and Europe isn't that convincing. Plus it has taken an enormous amount of QE to achieve this over a very long period, and it seems to have benefited the wealthy rather than ordinary Americans

What other developed, first world regions should it be compared to? QE had a positive impact but there were more factors at play. Also, it looks like ordinary Americans are being helped along just fine, if these stats are anything to go by:

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It's happening fast, currently at ~$1.055 to 1 Euro. We may see parity by the end of the month.

It will be a headwind to US growth as our exports become more expensive. However, it will keep the cost of imports down and therefore help keep inflation in check.

Finally, I think it is a big sign to all the chicken littles who constantly beat the drum of the imminent "collapse" of the USD (the boneyard bills) how wrong they were. The USD remains as strong and as prominent as ever. The lesson here: folks like Glenn Beck, Peter Schiff and many others who implored you to dump your dollars, stock up on canned goods and buy gold are just modern day snake oil salesman.

The US economy is the fastest growing large developed economy (in comparison to Eurozone, Japan, etc.) and has been for a number of years and will likely remain so for several more years.

What? You are ignoring the very real large inflation threat sometime in the next 100 years.

Yes, and can you believe that some countries are moving to settle their oil contracts in something other than USD? If that happens, there will be no end to the hyperinflation!

 

[tupac chopra]

The fear mongering they were using implied it would happen any day, as in within the next year or two.

Do you have a citation?

Was he right because he knew better or just lucky?

His explanation and prediction seemed accurate. https://www.youtube.com/watch?v=sgRGBNekFIw

Mind you I don't follow Peter Schiff and I know I don't agree with everything he says, but he seemed right on this one.

We was abysmally wrong in his advice in the years since.

I don't know . What did he actually say?

What other developed, first world regions should it be compared to

I'm not sure it should be compared only to first world regions

 

[tupac chopra]

Ya, but don't forget that Putin has a secret plan to crash the US dollar and he's a heroic genius who outmaneuvers everybody by being so awesome. Or rather, he had a plan to do that but doesn't have the money to implement it at the moment.

I guess they just didn't borrow enough. Why can't they get a debt to GDP ratio like real countries?
From bust to boom: How the world became addicted to debt
And that is without even looking at the fiscal gaps