The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Impact of a weak US Dollar?

Accelerate wealth. Build a business that pays freedom. Join more than 70,000 entrepreneurs and register for the Fastlane Entrepreneur forum. Remove ads? Join the INSIDERS.

hakrjak

Bronze Contributor
Read Millionaire Fastlane
Sep 15, 2007
1,887
125
88
Colorado Springs
Is anybody else sick of hearing about the impact of the weak US dollar?

Should a weak dollar boost our exports, and bring more foreign investments into our country?

Unless you're spending 100% of your dollars overseas, shouldn't this have minimal impact to you and your family!?
 

Don't like ads? Remove them while supporting the forum. Subscribe.

kimberland

Bronze Contributor
Jul 25, 2007
822
120
38
I love hearing about it.
Just bought a car in the U.S.,
finished my holiday shopping on the weekend,
paid up my advertising for next year,
and transferred over some Cdn$'s at 1.10 (nice, very nice).
Oh, and buying US investments on the OMG Dow days.
(Playing the lag between the U.S. economy and Canada's)

It is like the entire U.S. is on sale
Makes me almost giddy.
 

randallg99

Bronze Contributor
Aug 9, 2007
1,373
177
92
NJ
Is anybody else sick of hearing about the impact of the weak US dollar?

Should a weak dollar boost our exports, and bring more foreign investments into our country?

Unless you're spending 100% of your dollars overseas, shouldn't this have minimal impact to you and your family!?


I am very interested in the impact the weaker US$ has on the American economy... we all know how vibrant the global economy is at this time, but how important is that to us (as US citizens/consumers)...

you are right that foreign investments will increase, but at what and whose expense? Bottom line profits will not be American taxed since the profits are owned by foreign entities... this is only one aspect of a macro impact our country will face as a result of a declining dollar.

Another large problem with the declining dollar is that it's coming at a time of high gas prices, in the middle of a credit liquidity crisis and a potential housing market meltdown, negative savings rate, a stretched defensive budget, etc... the last thing the consumer needs is a dollar that cannot afford the same luxuries it did only a year ago...

the velocity alone of the dollar's weakness has incredible ramifications on the economy...

in summary, the consumer will have a much harder time supporting their standard of living as they have in the past several years as a result of higher cost imported items but the reality is that the US$ will come back one day as all currencies experience long term gyrations.
 

Andrew

Contributor
Aug 8, 2007
190
41
26
From a basic economics standpoint, more exports, less imports. The wildcard seems to be how other countries will manipulate their currencies in response.

From a business owner standpoint, this is devastating Canadians being paid in US dollars. Over the past 5 years it amounts to a 60% drop in income. Just the same, Canada's manufacturing exports are hurting as well.

I am not making any business decisions based on currency values. I have international projects that are being launched, just because of future growth and lack of competition. A weak dollar could become a bonus.

Personally, I believe the biggest danger here is government intervention. Just take a look at the most recent real estate bubble, cheap & easy credit (thanks to the fed) timed with all kinds of new credit and bankruptcy restrictions, and now possibly rising taxes going into the correction. Pretty typical.

Bottom line, have income sources from multiple currencies but don't go out of your way and risk your current dollar income in exchange for it. Thats my opinion.
 

Sponsored Offers

Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Text from today... Muhammad Ali said, "I hated every minute of training", but followed with...
  • Sticky
MARKETPLACE NEW: The Best School for Going Fastlane (Now open for summer enrollment)
With 300+ students, the method and/or main sources of traffic don't saturate? Seems web design...
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Hi - I sent out some emails with the updates but I'll PM you now also, thanks. The issue is...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
Hi Fox. Starting the book and got through the introduction. Had a conversation with Andy Black...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Chris is super sharp and is aware of many facets of entrepreneurship and can help get your...

Learn Fastlane Business Skills & Get Profitable Within 30 Days...

Get Started Now

Don't like ads? Remove them while supporting the forum. Subscribe.

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom