"Why do Americans persist in this infantilism?"

Why do Brits persist in their childish sarcasm? Grow up and express your opinion like an adult instead of a snotty teenager.


"The alternative to the fantasy world of "America's the Greatest" isn't being a third world country. It's growing up, and realising you're just one affluent country among dozens."

Can anyone be this stupid.Few Americans have ever had this fantasy. Stop believing everything your news media tells you.

"Your currency will devalue and revalue cyclically. Just like the yen, the euro and the pound. And, yes, the yuan and the Indian rupee.

Welcome to the real world."

Duh, everyone in the US knows currency is cyclical but when it falls as fast as it is, it doesn't bode well and is a cause for concern for us. As far as the real world, europeans are the last to tell americans that. You've been living under the umbrella of our miltary protection for years. You're also a bunch of naive idealistic socialists. When we go broke, we'll no longer be able to fund billions in defence of your continent now will hon. Then maybe you'll have to get off your lazy arrogant socialist butts and defend fully yourselves, for a change.

Don't worry so much! We're not going down in a ball of flames, we'll do ok. I mean, the country's survived the Great Depression, right? And several wars... we'll be ok. Might have to cut back on some extra stuff, but we'll be ok. This is nothing close to being in a third world country. Not that I've ever been in one but, still... Really don't understand why so many are freaking out. We all just need to stop buying stuff we don't really need and figure out our priorities better... counting myself in that group, too.

Who knows. The US might be the only nation where people are evicted from a new 4,500 square foot house and have to ride to the poor house in an Avalon or a BMW 330i.

I guess I don't get the whole concept of someone in a "third world country" being upset about their relationship with other countries' currency. Few people from third world countries jet-set around the world to other countries anyway.

"US gasoline is still below $4"...

Oops! My last fill-up was at $4.06 a gallon.

In late February it was about $3. Up a $ in 8 weeks??

"Then maybe you'll have to get off your lazy arrogant socialist butts and defend fully yourselves, for a change."

In another thread you write "Anti Americanism is alive and well"

With attitudes like yours, I am not surprised.

Hi Logos,

I was thinking the same thing. Is the price of gasoline in the US rising twice as fast as in Europe?

I've just read that Migros is increasing the price of toilet paper. Now that's a sign of the times.

Author: travelme
Date: 03/18/2008, 06:46 am
This is just scary! Are we, the US a third world country? Should we buy other currencies so that we wont suffer further devaluations? Many people in Latin America used to buy dollars because their currency was continuously devaluated.



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Author: flanneruk
Date: 03/18/2008, 06:55 am
Why do Americans persist in this infantilism?

The alternative to the fantasy world of "America's the Greatest" isn't being a third world country. It's growing up, and realising you're just one affluent country among dozens.

Your currency will devalue and revalue cyclically. Just like the yen, the euro and the pound. And, yes, the yuan and the Indian rupee.

Welcome to the real world.



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Author: travelme
Date: 03/18/2008, 07:17 am
All well and good, Mr Flanneryuk but the dollar is declining at an alarming rate and there is nothing good about that.



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Author: Dukey
Date: 03/18/2008, 07:25 am
travelme, take that shirt or blouse you are wearing OFF and look at the label.

Where was it made?

Your computer components assembled where?

Your Ipod?

Your Palm?

Your kids toys?

I agree with Flanner...we need to realize what "greatness" actually means and becoming more competitive rather than whining about everyone else's success might be a start.

You willing to pay MORE for all those currently foreign-made/assembled products in your home if they can even BE made in the US?



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Author: Pete_R
Date: 03/18/2008, 07:34 am
I think the fact you have a Palm, iPod, computer and even a shirt to look at the label of proves the US is not a 3rd World Country.

If you were starving to death in a shanty town then the tag would be accurate.

Complaining on an internet forum because your two week European vacation will cost an extra $500 - less so.



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Author: Sue_xx_yy
Date: 03/18/2008, 07:41 am
Cheer up, travelme. Amongst the losers at Bear Stearns is a British billionaire. He lost an estimated $300,000,000 (even in the present $US, and even for a billionaire that's a fair chunk of cash.)

It's a global howling these days. Join in.

Seriously, this could be a good thing, something to remind people to live within their means, instead of within their expectations.



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Author: Cholmondley_Warner
Date: 03/18/2008, 07:49 am
The British billionaire - Joe Lewis also owns my football team.

There's an article in today's telegraph saying that although he lost around £500m he still has over £2bn and isn't feeling much pain and won't sell spurs.

That must be a nice position to be in.



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Author: markrosy
Date: 03/18/2008, 07:49 am
"This is just scary! Are we, the US a third world country"

Ever been to New Orleans?



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Author: markrosy
Date: 03/18/2008, 07:54 am
At least there is some justice in investors losing by taking risks.

What really does take the piss are the employed city boy types - they run no businesses, take everyone elses cash, commit to enough risks to create huge profits from which they take a huge bonus.

Then if it all goes wrong they simply lose only their job and wander off with everything they have to hide in Goa for two years until the next bull market.



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Author: Jake1
Date: 03/18/2008, 08:11 am
travelme--I'd guess you've never lived in a 3rd world country or you wouldn't even ask the question. The US is printing money at a fantastic rate these days--to pay for our wars, and to cover the excesses of the leaders of our financial marketplaces, and to make up for the ignorance of individual American investors and property buyers.

So the dollar is less and less valuable, accounting for much of the increase in prices, including the prices of other currences and oil, that we are currently experiencing.

Those of us who invested conservatively and who didn't buy a house we can't afford, as usual, end up paying for those who were reckless and/or ignorant. I guess we're the stupid ones.



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Author: crazyfortravel
Date: 03/18/2008, 08:55 am
I guess as a Canadian the only comment I can make is welcome to our world. We've had the ouch factor when planning travel for as long as I can remember. The only difference now is that when I cross the border my money is worth the same as the US dollar. Not a good thing for our economy though so I hope things improve with your dollar.





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Author: ira
Date: 03/18/2008, 10:44 am
Hi T,

I remember when the GBP was $2.50 and the FFranc, the German Mark, and the Italian Lire traded at the equivalent of the Euro at $1.67.

The US wasn't considered a 3rd world country then.






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Author: ira
Date: 03/18/2008, 10:47 am
PS,

The Fed is going to lower interest rates again.

Look for the E at $1.65 this Summer.





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Author: copain1
Date: 03/18/2008, 10:59 am

http://www.reuters.com/article/busin...58265520080317

Leave your Benjamins at home.



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Author: whoknew
Date: 03/18/2008, 11:10 am
Regarding the Reuter's report-the accompanying video interviews a woman who is using money exchanges and traveler's checks and states she is experiencing trouble having vendors accept traveler's checks....I'm astonished there are people out there who still believe this is efficient or effective, especially in Europe.

I confess my parents still use traveler's checks here in the States (they've never traveled outside of North America). (sigh.....)



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Author: Jimingso
Date: 03/18/2008, 12:01 pm
According to today's Wall Street Journal, the US$ is up this year against the South Korean won, the Indian rupee, Indonesia's rupiah, and the Turkish lira, among other currencies.

"Many of the countries with struggling currencies share a major weakness with the U.S.--namely, they import more than they export and depend on financing from overseas to make up the gap".

I'll continue to invest in large multinationals like GE, KO, and JNJ as one way to take advantage of the weak dollar. Don't think the U.S. is a third-world country quite yet.



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Author: Jake1
Date: 03/18/2008, 02:07 pm
whoknew--don't feel too badly about your parents not traveling outside North America.

North America is huge (more than two times the area of Europe) with about 40 separate countries and possessions of other countries, and covering almost 17% of the earth's land areas with over half a billion people speaking dozens of languages.



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Author: GSteed
Date: 03/18/2008, 02:44 pm
More nonesense. The USA GDP is at $45,000. In particular this is three times that of Poland. USA gasolene is still below $4 a gallon, 1/2 the price in most of Europe. Few Americans travel and most can't covert dollar value to pounds or Euros. Shortly, automatic USA factories are going to replace 'other world' work shops.



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Author: alecksonajetplane
Date: 03/18/2008, 02:46 pm
"This is just scary! Are we, the US a third world country?"

Are you kidding me? Third world country? Tell that to the people from places like the Philippines who needs to spend 200000P (the equivalent of 20 years' salary for the average middle class person) per person to spend two weeks in Europe.

If Aussies, Kiwis, and Canadians were able to travel in the past with their horrendous exchange rates against the Euro, I'm sure that Americans can do it, as well.



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Author: whoknew
Date: 03/18/2008, 03:39 pm
Jake1-the sigh is more because they still use traveler's checks. My mother would go in a heartbeat to Europe, especially Spain and Portugal, if my dad's health was good. I've offered to take her to Spain, but she won't leave Dad...unfortunately his mobility is limited and there's no way he could navigate any distance at all in Europe.

But they are planning to go to his Navy reunion this fall in Washington DC, and once again they've offered to pay most of my way to go on the trip with them and sherpa them through the airports. (Who am I to argue with a deal like that?)



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Author: ronnie36
Date: 04/22/2008, 10:25 pm
"Why do Americans persist in this infantilism?"

Why do Brits persist in their childish sarcasm? Grow up and express your opinion like an adult instead of a snotty teenager.


"The alternative to the fantasy world of "America's the Greatest" isn't being a third world country. It's growing up, and realising you're just one affluent country among dozens."

Can anyone be this stupid.Few Americans have ever had this fantasy. Stop believing everything your news media tells you.

"Your currency will devalue and revalue cyclically. Just like the yen, the euro and the pound. And, yes, the yuan and the Indian rupee.

Welcome to the real world."

Duh, everyone in the US knows currency is cyclical but when it falls as fast as it is, it doesn't bode well and is a cause for concern for us. As far as the real world, europeans are the last to tell americans that. You've been living under the umbrella of our miltary protection for years. You're also a bunch of naive idealistic socialists. When we go broke, we'll no longer be able to fund billions in defence of your continent now will hon. Then maybe you'll have to get off your lazy arrogant socialist butts and defend fully yourselves, for a change.



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Author: caladrius
Date: 04/22/2008, 10:37 pm
Don't worry so much! We're not going down in a ball of flames, we'll do ok. I mean, the country's survived the Great Depression, right? And several wars... we'll be ok. Might have to cut back on some extra stuff, but we'll be ok. This is nothing close to being in a third world country. Not that I've ever been in one but, still... Really don't understand why so many are freaking out. We all just need to stop buying stuff we don't really need and figure out our priorities better... counting myself in that group, too.



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Author: brookwood
Date: 04/22/2008, 10:55 pm
Who knows. The US might be the only nation where people are evicted from a new 4,500 square foot house and have to ride to the poor house in an Avalon or a BMW 330i.





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Author: NeoPatrick
Date: 04/22/2008, 11:26 pm
I guess I don't get the whole concept of someone in a "third world country" being upset about their relationship with other countries' currency. Few people from third world countries jet-set around the world to other countries anyway.



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Author: Jean
Date: 04/23/2008, 12:47 am
"US gasoline is still below $4"...

Oops! My last fill-up was at $4.06 a gallon.



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Author: logos999
Date: 04/23/2008, 02:13 am
In late February it was about $3. Up a $ in 8 weeks??



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Author: willit
Date: 04/23/2008, 03:38 am
"Then maybe you'll have to get off your lazy arrogant socialist butts and defend fully yourselves, for a change."

"In another thread you write "Anti Americanism is alive and well"

"With attitudes like yours, I am not surprised."

You seem to forget that my comments were in response to a rude Brit who was very snotty about americans so I told him the truth bluntly. With me, you get what you give and if that makes anyone "anti-american", TOUGH!!!!

PS-you people(americans) are obsessed with being liked. I believe in standing up for oneself, americans need to try it, they'll get a whole lot more respect

"Is the price of gasoline in the US rising twice as fast as in Europe?"

Sort of. Crude oil prices in euros are obviously growing more slowly than dollar prices. And most of the petrol price at European pumps is tax - which generally doesn't grow proportionately with crude prices: theres's usually an "x cents per litre" element in fuel taxes, rather than just "y% of the price"

Varies a lot by country (fuel inflation's worse in countries with softer currencies, like Britain). But petrol prices are growing much more slowly in Europe than in the US and are a very great deal less emotive.

Thanks Flanner.

You know, I was just remembering the other day how my father used to call half-a-crown "half a dollar" - from the days of the Gold Standard, when there were $4 to the pound sterling (and there were eight half-crowns in a pound).

There's currency, and there's purchasing power. Each depends on the other in relationships that vary over time, but they are not the same. A variation in exchange rate is not necessarily an index of national vigour, wealth, power or anything much more than bankers' ideas of how much money they can make on a deal.

On a side note, is there a reason nearly half the responses were all suddenly repeated within this thread?

And for those of you confused about the varying claims of gas prices in the US -- try to understand that the US is a big place, gas varies by close to a dollar at various places within the country -- and there are three different grades of gas sold (not counting diesel) so there is more variance as well.

We actually have stations with 4 grades of gasoline, plus diesel, in our area. Our price for regular (87 octane) now varies from $3.41 to $3.59 at the stations I pass from home to work.

It's not making a difference in my lifestyle yet.

I always understood that one of the reasons for the volatility of US gas pricing is that there is a shortage of refining capacity because no new refineries have been built for many years. This combines with different requirements in different states, which means that individual states have to be self-sufficient in refining.

Any interruption to production leads to a shortage, and higher prices. A sudden spell of cold weather has the same effect. I also understood that there was a greater disparity between winter and summer demand than is found in more temperate climates.

Just filled up car here (Canada), US $4.71 a gallon (converted).

So does that make us 3rd world?

Ronnie, hope that concussion is getting better. You're saying the strangest things these days

I was going to back my dollars in a seperate bag when I go to Europe, and now the airlines are charging extra for that second bag!

""This is just scary! Are we, the US a third world country"

Got lost in the arse end of Miami once, spent time in Africa as a kid....

Bits of it, yes.

I was in Ghana in 2005. Until you've actually visited a poor country, it is hard to appreciate what life with the bare minuimm is like...and gain an appreciation of what is important in life.

Ronnie

"Duh, everyone in the US knows currency is cyclical but when it falls as fast as it is, it doesn't bode well and is a cause for concern for us."

Are you so naive to believe that everyone in the US knows currency is cyclical?