It gives those of us who are not afraid of the shadows, a opportunity to buy products at a discount, and stimulate the economy.
Plus ........Almost everywhere in this country home prices are vastly inflated..Many homes in my area have gone up 60% in the last 6 years.A correction is in order..
I looked into buying a house the last few years, looked at the prices, and what I would have got, and passed-- twice.
Actually, you're wrong about the first. The weak dollar means higher costs for imports. What's imported? Oil for one. But never mind that. Our consumer products are mostly imports which means their prices will inflate. After that pain, the good news is, it will eventually kick start our manufacturing sector again.
For the latter, I agree totally . . .
Posted by zinaval,
Actually, you're wrong about the first. The weak dollar means higher costs for imports. What's imported? Oil for one. But never mind that. Our consumer products are mostly imports which means their prices will inflate.
Lets not forget lower valued dollars means more competitive merchandise and more exports and a lower trade imbalance.. and we also have oil in our own hills..
For those not in debt and with cash, this is GREAT. Homes prices are cheap, and money is still cheap. For those up to their eyes in CC debt, HAHAHa.
Also I agree things got crazy for a while. Home prices, cell phone plans $200 a month, even cable has gotten way high. I used to pay 25 bucks. Now its 150. Maybe if enough people turn that shit off, they will come out with deals again.
Yes, though there's a bright side to a lower dollar, one of them is not being the leader of the world. There was also a bright side to the Great Depression where some people benefited, and even a bright side to Hurricane Katrina if you were one of the handful of people who benefited.
Although I loathe Bernanke, he finally did the right thing by reducing the Fed Rate by 75 basis points, and I expect a minimum 50 basis point cut next week. This is actually a great time to buy stocks, assuming you have the stomach for it. We will get thru the sub-prime mess, just like we got thru tech mess in 2000, the S&L mess in 1991, etc...etc...etc.
If you're a liberal it is a great time to get into the fetal position and wait for the government to save you. Why rely on yourself when you've got Hillary to take care of you?