Monday, January 01, 2018

2017 Worst Year for U.S. Dollar Since 2003

Early in 2017, Donald Trump was worried the dollar was getting too strong. At the start of 2018, he has nothing to worry about. This year, the US dollar recorded an annual decline for the first time in five years. The ICE dollar index, which measures the dollar against a basket of six other currencies, fell nearly 10% in 2017. That's biggest annual decline since 2003 when the US dollar fell almost 15%. ... Most analysts predict a similarly tough year for the greenback in 2018. Goldman Sachs expects a "soggy dollar," meaning a dollar that has "all but finished pricing the relative strength of the US vs. the global economy."

Comments

Some countries can already read the writing on the wall (Pakistan being the first. Hopefully others will follow) and are dumping the dollar for the Yuan.

The Yuan is King. In 19 years or so, the Dollar will have more in common with Monopoly money than a real currency.

If the Yuan doesn't kill it, Bitcoin will.

#1 | Posted by J_Tremain at 2017-12-31 05:46 AM

This is what happens to your money when you don't make anything expect war.

When I went overseas, I couldn't find A SINGLE thing 'made in USA'. All 'made in China'.

Why? China doesn't make war. China makes STUFF. That's why.

#2 | Posted by J_Tremain at 2017-12-31 05:49 AM

When I went overseas,

Why would you need to go overseas?

Everything here in America is made in China too.

Including everything Trump related.

#3 | Posted by ClownShack at 2017-12-31 06:19 AM

Why would you need to go overseas?

I needed an adventure and foreign p$&%y.

#4 | Posted by J_Tremain at 2017-12-31 06:22 AM

Including everything Trump related.

His ties are from Bangladesh.

Or was it his cheap suit???

#5 | Posted by J_Tremain at 2017-12-31 06:25 AM

If the Yuan doesn't kill it (the dollar), Bitcoin will.

#1 | POSTED BY J_TREMAIN

It's a fact (with one exception). I have heard that Bitcoin is not going to be the dominant cryptocurrency, simply because of mechanical problems with Bitcoin, plus the fact that it is controlled from China and because it is limited in number of units.

However, the New New World Order is coming and the Dollar will not be the monetary standard in that order.

#6 | Posted by kudzu at 2017-12-31 10:35 AM

A weak dollar is not all bad. [1] More foreign visitors/vacationers spending their money here, plus our products are cheaper for those overseas to purchase, thereby lowering trade deficit.

#7 | Posted by MSgt at 2017-12-31 10:58 AM

Why would you need to go overseas?

------ is already "overseas" in Texastan.

This is to be expected with a strong economy and an excess of Dollars due to QE.

The only reason that Pakistan is moving to the Yuan is that they are now only getting 1/10th the USAID (not to be confused with Coalition Support Funds) that they were getting in previous years and are now pissed.

The Yuan will never be the world's currency until it is allowed to free float against all other currencies, and no one sees that happening so long as the Chinese economy continues to be centrally planned.

#8 | Posted by Rightocenter at 2018-01-01 02:25 PM

Strong economy's tend to strengthen currencies.
QE and low interest rates creates cash spent on imports leading to trade deficits which tend to weaken a currency.

#9 | Posted by bored at 2018-01-01 04:15 PM

#9

In isolation, you are correct, but since the Fed is selling bonds to ease QE and Corporate Bond issuances are at a low, there has been an expectation that this combination, with a strong economy, would weaken the dollar, especially since our economy is more service oriented then it has ever been. Couple that with more companies taking payment in foreign currencies and leaving it offshore and you have an environment for a weak dollar.

#10 | Posted by Rightocenter at 2018-01-01 05:29 PM

The only reason that Pakistan is moving to the Yuan is that they are now only getting 1/10th the USAID (not to be confused with Coalition Support Funds) that they were getting in previous years and are now pissed.

There is no USAID except for small BS projects like preserving heritage gravestones (yeah... Google "Makli").

The Majority of US assistance to Pakistan is from the Coalition Support Fund which is reimbursement to Pakistan for expenses already incurred and compensation for facilities made available to the coalition forces such as the Shamsi Airfield and Dalbandin air bases by Pakistan as well as $4 billion has been billed to CSF Fund for the training and services provided by American military and contractors to Pakistan Security Forces. OOPS!

The ONLY funds Dotard and Co. are trying to cut are the Coalition Support Funds.

When that goes, so does the umbrella protecting US troops in Afghanistan. And since we all know you can't fight your way out of a wet paper bag on your own... well...

Does the Pakistani economy depend on the Coalition Support Funds???

Nope. LOL

The Yuan will never be the world's currency

Sez the rightwing idiot who probably can't get a job selling peanuts.

It already is a reserve currency, dumdum.

Chinese yuan officially became a world reserve currency on November 30, 2015. It represents 10.92% of the IMF's Special Drawing Rights currency basket. This makes Chinese yuan the third reserve currency after the US dollar and Euro. (wiki)

OOPS!

I always knew you were a liar.

Now everyone knows.

#11 | Posted by J_Tremain at 2018-01-01 09:38 PM

The only reason that Pakistan is moving to the Yuan is

The only reason Pakistan is moving to the YUAN is they are doing far far more business with China than with the US.

So it makes sense to do business in YUAN and RUPEE... it's pretty stupid for two countries to first buy Dollars and then change to YUAN or RUPEE.

They are working out an elaborate currency swap agreement... the dollar will of course not be part of it.

A decade ago, the USA was Pakistan's (and other places') largest trading partner.

And now?

Nope. The USA can't even be seen on the horizon. I really don't get what bloody good is the US for anymore. It's not like people are lining up to buy American cars. LOL

#12 | Posted by J_Tremain at 2018-01-01 09:48 PM

The only reason that Pakistan is moving to the Yuan is

The only reason Pakistan is moving to the YUAN is they are doing far far more business with China than with the US.

So it makes sense to do business in YUAN and RUPEE... it's pretty stupid for two countries to first buy Dollars and then change to YUAN or RUPEE.

They are working out an elaborate currency swap agreement... the dollar will of course not be part of it.

A decade ago, the USA was Pakistan's (and other places') largest trading partner.

And now?

Nope. The USA can't even be seen on the horizon. I really don't get what bloody good the US is for anymore. It's not like people are lining up to buy American cars. LOL

#13 | Posted by J_Tremain at 2018-01-01 09:48 PM

Ooo... double post... sorry

#14 | Posted by J_Tremain at 2018-01-01 09:49 PM

What does Pakistan have to trade?

#15 | Posted by bruceaz at 2018-01-01 09:56 PM

Just because it is part of the XDR basket doesn't mean that it is going to replace the dollar, in fact the XDR is a supplement to the Dollar if it falters. The IMF lets Developing Countries use the XDR as a cost free alternative to developing foreign reserves, but otherwise it is a backstop.

As for the CSF, the ----- will lose 50% if they can't keep their borders under control, and if they can't, tough ----, the Coalition isn't going anywhere. Losing 90% of your USAID really hurts, doesn't it.

There is no USAID except for small BS projects like preserving heritage gravestones (yeah... Google "Makli").

God you are retarded, this is from the PK Express Tribune from September, 2017:

The US has sanctioned $33.4 billion for reimbursements to -----tan during the past 15 years, 44% of which was on account of services that Islamabad rendered to support Washington's anti-terror operations in Afghanistan.

By excluding the $14.573 billion cost of CSF logistics and aerial support, the approved civilian and security-related aid to -----tan from 2002 to 2016 was only $18.8 billion, according to the statistics compiled by US authorities.

The data has been gathered by the departments of State, Defense, Agriculture, and the US Agency for International Development (USAID).

By excluding the CSF-related payments to -----tan, US assistance to -----tan from 2014 to 2016 was $810 million per annum against the average of $1.4 billion during the 2002-2013 period, according to the statistics.

Last year, the US assistance to -----tan under the US state department budget was $534 million, which included $225 million towards foreign military funding.

In all, the state department has proposed a massive $190 million reduction in its financial aid to -----tan as compared to the 2016 fiscal. The current 2017 fiscal ends on September 30 this year.

That's a lot of tombstone maintenance.

#16 | Posted by Rightocenter at 2018-01-01 09:59 PM

What does Pakistan have to trade?
#15 | Posted by bruceaz

Sheep vaginas, if it weren't for sex-trafficking laws.

#17 | Posted by truthhurts at 2018-01-01 10:05 PM

this is from the PK Express Tribune

The Express Tribune is owned by the New York Times.

OOPS!

Lie as much as you want. The US is going to cut Coalition Support Funding.

I say, go for it. Find another way to protect your soldiers in Afghanistan. Find another way to ship them their food. LOL

Maybe the Dotard can make friends with Iran again... beg them for a land route???

#18 | Posted by J_Tremain at 2018-01-01 10:13 PM

What does Pakistan have to trade?

An 8 inch c%*#

#19 | Posted by J_Tremain at 2018-01-01 10:15 PM

#18

Numbers don't lie like you do ------, those are straight out of the " departments of State, Defense, Agriculture, and the US Agency for International Development (USAID)."

#20 | Posted by Rightocenter at 2018-01-01 10:16 PM

Numbers don't lie

The American Gubmint machinery does.

Numbers are made up and/or categorized. Plus, you can't read and understand terms like "security assistance" (Pakistan charging "protection money" to keep troops supplied). The rest are simple bribes, that under the Kerry-Luger bill were to go up to over $8 Billion. But only 100 Million were ever given. LOL

But lets simplify the argument.

The US is ABSOLUTELY FURIOUS that Pakistan is dumping the DOLLAR.

This is the reason for all the tummy ache Dotard and Co are displaying.

That's OK. Americans should get used to being frustrated and annoyed. It's going to be the new normal for them since the start of the new year.

#21 | Posted by J_Tremain at 2018-01-01 10:29 PM

categorized = mis-categorized

#22 | Posted by J_Tremain at 2018-01-01 10:30 PM

What does Pakistan have to trade?
An 8 inch c%*#
#19 | Posted by J_Tremain

And that is just the women!

#24 | Posted by truthhurts at 2018-01-01 10:37 PM

#23 | Posted by truthhurts at 2018-01-01 10:35 PM | Reply | Flag:Americans should get used to being frustrated and annoyed. It's going to be the new normal for them

Forced comedy, much?

#25 | Posted by J_Tremain at 2018-01-01 10:40 PM

The dollar will never be again what it once was.

Enemies of Dollar?

1. YUAN
2. Bitcoin
3. Tweets of Dotard.

#26 | Posted by J_Tremain at 2018-01-01 10:44 PM

Pakistan should just invent their own money to world trade with. Imagine the competition to bitcoin that would offer. Call it pakcoin or something edgy.

The white zone is for loading and unloading only. If you have to load or unload please go to the white zone.

Back to my dishwashing now....

#27 | Posted by mutant at 2018-01-01 10:46 PM

Btw port of oman trades twice as many TEU as port of karachi.

#28 | Posted by mutant at 2018-01-01 10:51 PM

Careful not to slander Mutant, my daddies a lawyer.

Pee Break

#29 | Posted by bruceaz at 2018-01-01 10:55 PM

port of oman

Oman is a country, you twit. There is no port of oman.

Or did you mean Mina'a Sultan Qaboos???

Mina'a Sultan Qaboos, Muscat's main trading port, is a trading hub between the Persian Gulf, the Indian subcontinent and the Far East with an annual volume of about 1.6 million tons. (Wiki)

As for Karachi port...

en.wikipedia.org

Around the same annual tonnage handled.

Lie much???

Why do people post BS that can be so easily refuted??? It just makes you look silly.

#30 | Posted by J_Tremain at 2018-01-01 11:11 PM

But...but...every Trumptard tells us daily how great everything is under Trump!
Must be fake news! On a global scale! Deep state!

#31 | Posted by e1g1 at 2018-01-01 11:26 PM

The US is ABSOLUTELY LAUGHING that Pakistan is trying to "dump" the DOLLAR.

FTFY

Now go back to the Sheep Vaginas.

#32 | Posted by Rightocenter at 2018-01-02 12:00 AM

No... they're not laughing. They are furious.

Which is kind of funny to watch.

Iraq, Libya and Iran ... all midget countries compared to Pakistan tried to dump the Dollar. Look what happened to them.

Iran has been destroyed economically so bad, people are getting shot over protesting over the price of eggs.

So yeah... judging from Dotard's furious tweeting, Dotardistan is FURIOUS.

Good.

Please try destroying Pakistan or it's economy.

I want to see how much power (LOL) the MIGHTY US really has.

#33 | Posted by J_Tremain at 2018-01-02 12:12 AM

#33

Says the "Texan".

Sorry I eviscerated your pathetic narrative, now go out and play "dodge the IED".

#34 | Posted by Rightocenter at 2018-01-02 12:21 AM

*I* eviscerated YOUR pathetic narrative.

And I'm not sorry. At all.

now go out and play "dodge the IED".

He said to the American soldiers and mercs stuck in Afghanistan....

#35 | Posted by J_Tremain at 2018-01-02 12:26 AM

And yeah, I'm still from Texas.

It'll take you million years to figure out how and what... I am prepared for how slow the rightwing brain works.

#36 | Posted by J_Tremain at 2018-01-02 12:28 AM

c.tribune.com.pk

White power?

Pathetic.

#37 | Posted by J_Tremain at 2018-01-02 12:33 AM

salalah is 3.2 teu per annum. Who's providing you bunk info, jt??

#38 | Posted by mutant at 2018-01-02 09:34 AM

Who's providing you bunk info, jt??

You are. You did not say which port, leaving me to guess.

All you said was Port of Oman... which is nonsense.

As for Salalah... en.wikipedia.org

It will be dwarfed by Pakistan's third port, Gwadar.

en.wikipedia.org

I don't get why we are talking about ports. It has nothing to do with the falling Dollar.

#39 | Posted by J_Tremain at 2018-01-02 10:41 AM

Too bad the ----- can't afford to build/expand this port with their own money. Why not just merge with china?

#40 | Posted by mutant at 2018-01-02 11:10 AM

--now go out and play "dodge the IED".
--He said to the American soldiers and mercs stuck in Afghanistan....
--#35 | POSTED BY J_TREMAIN

He's a conservative. Soldiers to him are tools to be exploited for profit.

#41 | Posted by IndianaJones at 2018-01-02 12:00 PM

Hahaha, someone said China doesn't make war. The mentality Liberals have where every other country is better than us and their hate for America is truly entertaining. However, what I don't get is how someone can say China doesn't make war and all of the Asian Liberals aren't on here in force with their faux outrage over how insensitive that statement is to the MANY nations that China has destroyed/taken over/forcefully executed millions/all of their other social injustices. But, of course, many people purposefully stay narrow-minded so as to avoid any situation in which they aren't right about everything.

This entire comment thread has been the best example of American exceptionalism I have ever seen...not knowing world history before saying something (which is something Liberals pounce on Trump about all the time), not understanding how a middle-valued dollar is good for our economy in our current economic climate (something Liberals went on and on about when the dollar lost strength while Obama was President), and last but not least, the ignorance people show when hating on someone they don't like because they have a different opinion about someone. Exceptional, just exceptional.

#42 | Posted by humtake at 2018-01-02 12:34 PM

Soldiers to him are tools to be exploited for profit.

How clever of you to figure out that I was researching ways to exploit my fellow Marines while I was in the Corps...------.

#43 | Posted by Rightocenter at 2018-01-02 03:11 PM

And the award for the Texan who knows the most about Pakistan goes to........

#44 | Posted by BruceBanner at 2018-01-02 04:57 PM

#44

Define what you mean by "Texan"?

#45 | Posted by Rightocenter at 2018-01-02 05:34 PM

Come on, Rightatnothing:
Show us again how representative of the armed forces you are.

You are pathetic. A fool.

#46 | Posted by e1g1 at 2018-01-02 07:19 PM

#46

Ohhh, name calling. How manly you are, internet warrior.

Come back when you have something intelligent to add...

See you in 2019.

#47 | Posted by Rightocenter at 2018-01-02 08:45 PM

my fellow Marines while I was in the Corps.

O Gawd... one more guy claiming he was a Marine....

Oay! Can you make balloon animals???

No?

Then you are no "marine". You ought to be ashamed of yourself.

Define what you mean by "Texan"?

Someone who doesn't give a s$&t about balloon animals.

#48 | Posted by J_Tremain at 2018-01-02 11:04 PM

the Texan who knows the most about Pakistan

Thanks for the award.

Now I got something in me hands I can hit people on the head with....

#49 | Posted by J_Tremain at 2018-01-02 11:08 PM

Crypto Currency is the future as long as the lights stay on. No paper money is going to be worth anything in 100 years.

#50 | Posted by boaz at 2018-01-03 08:14 AM

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