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A Sad Fact


Brushmaster
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With the Australian dollar going from strength to strength again the poor old $US , the cost of by minis online has gone down incredibly . :blink: This , however has been the death knell for a couple of LGSs in NSW , as people here in appear to be doing just that , buying online . :rolleyes: C'mon you Americans , pick up your economy and save my FLGS !

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I'd love for the dollar to get stronger, though not to save your LGS.

 

Not that long ago, the exchange rate with Canada was close to $1.5 Canadian to 1 US dollar. Now, the Canadian dollar has reached parity. Very sad state of affairs, and quite attributable to spending and policy over the last 7 years or so. :angry:

 

Ron

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Speaking as one who's town only this month got a FLGS they will miss them when they are gone. I am doing my best to do all my gaming purchaces from my FLGS, even if the price is a bit higher. The face to face with other gamers in the community outside of a regular group is well worth it.

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With the Australian dollar going from strength to strength again the poor old $US , the cost of by minis online has gone down incredibly . :blink: This , however has been the death knell for a couple of LGSs in NSW , as people here in appear to be doing just that , buying online . :rolleyes: C'mon you Americans , pick up your economy and save my FLGS !

 

 

Trust me I wish we could go back in time and enjoy the economy we had.

 

Any proposals for fixing it though? I don't know where to begin!

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Well..I ain't no economics professor...not by a longshot, but seems to me what the problem with the US economy is that this entire nation seems to be functioning on dollar-futures. There's a lot of people in debt, and those they owe are therefore in debt..and everybody seems to be counting on the check that's still in the mail...and yet folks are lending and borrowing like there's no tomorrow.

 

And if you can spare me a dollar for another cuppa coffee, I'll tell ya some more! :lol:

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Another bubble happened...and then it popped (though the real estate bubble has been going out more like a whoopy cushion). Right now there is a lot of artificial money still floating around from it...and until the people involved in propping it up finally let go, it will linger on for awhile.

 

The economy itself has been doing quite well as far as my dividends have shown. Once more of that artificial money evaporates, things will be better in terms of the exchange rates.

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The economy itself isn't doing too badly (at the moment): unemployment is still very slow, and the economy as a whole is still growing. The problem is that, as Spike indicated, we're living on borrowed time because we, as a society (in general) and as a country, are living beyond our means.

 

The solution, in general terms, is fairly simple: we (as individuals, as society, and as a country (the government (local, state, federal))), have to live within our means. It's implementation that's hard.

 

Ron

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Aye, I would agree with those assessments. It astounds me that amount of debt people have racked up and how much they use their credit cards. You have to know your limits. Heck, I can't afford to go home for xmas because I'm buying a house. My parents are very aware of that and that I'm trying to do something to secure my future and be more of a grown up so they are helping me with getting home this year. I don't think many people make many decisions like that. I mean, I was prepared to say I can't come home it'll have to wait until the summer when I have more time and money. That's being responsible. Not many people are . . . they see what they want and they can't wait. They have to have the instant gratification . . . that's what credit cards are for, right? :poke:

 

So that means that there's a bunch of "money" floating around in space at the moment that people have borrowed . . . once we stop living so much on credit and get back to living on our paychecks, each paycheck at a time and live the way we can afford to things will definitely be better. The housing market seems to be a major culprit in all of this because a bunch of people got themselves in trouble with adjustable mortgage rates. That's a big no no. I'll take a slightly higher rate than the average and have it locked in over the length of my mortgage than have a low interest rate for a bit and then have it jacked up to 30%. That's just insane!

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Sort of...the way my funds manager explained it to me is that there is a lot of money that exists in the form of equity in real estate right now. However the money is based on an inflated property value - that is unrealistic. Since all that equity gets figured into the total value of the US dollar (and makes there be more dollars floating around without having more physical assets which they are secured against).

 

The interest rates are a result of economics not moving as fast as the paperwork that drives them. Lending institutions found out that they had lent more than they had assets (according to their internal auditors...not the market - which is driven by idiots). Since they had to get money back in order to balance things out, they raise interest rates to compensate. Also, since when a home owner pays off $100,000 on a house that they paid $500,000 and it is only really worth $350,000...there is still no real equity to go back into the economy. It remains a net loss.

 

Other than that portion of the economy (and the people foolish enough to get stuck in it) - everything else is really a lot rosier than the soothsayers would like you to believe. A very small portion of the US population is directly affected by the ARMs. And fewer still will have to go into foreclosure as a result. The vast majority of the US population carries little unsecured debt. But for a few years (yes years, it takes a while for these things to sort themselves out), the dollar will be weak. In the end, for those who don't panic it will be better. People who panic about the whole thing though will run into more problems though.

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I blame it all on the insurance and pharmecutical companies. Real estate and housing get more publicity on it, but i think they are the third and fourth dominoes in the tumble, not the first and second.

 

Insurance and pharmaceutical companies aren't dominoes to fall...they are the 800 pound gorilla in the corner of the room who likes to beat people at random. They have always been, and will always be a problem - at least until we ban lawyers.

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