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View Diary: Dollar Still Falling, Nears All-Time Lows (169 comments)

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  •  Sure, so tourists can come to the US and (7+ / 0-)

    buy stuff that's made in China.  What you are proposing is that the US emulate the economic policies of a Carribean resort.  That will sure help stabilize the US standard of living.  

    And it feels like I'm livin'in the wasteland of the free ~ Iris DeMent, 1996

    by MrJersey on Tue Apr 24, 2007 at 05:55:50 AM PDT

    [ Parent ]

    •  American Chinese stuff (1+ / 0-)
      Recommended by:
      truong son traveler

      is, oddly enough, way superior to, at least English Chinese stuff. Buying English, you're pretty well confined to ceramics and glass. The manufacturing base is minimal at present, so if you want to see the future of the US economy, look at the prices versus the quality here and shiver.
      If Homeland Security wasn't busy breaking the locks off tourists' suitcases and riffling through their underwear, you'd see a huge influx of shoppers hopping over the pond to shop at Target.

      •  Oh, and... (0+ / 0-)

        The strong pound does very little for the buying power of the average English consumer.

      •  Where do the English get their consumer (0+ / 0-)

        electronics from?  Isn't it the same as the stuff that comes to the US.  I have seen that digital camera prices are much higher than in the US, but I always assumed that they were heavily taxed over there.  

        And it feels like I'm livin'in the wasteland of the free ~ Iris DeMent, 1996

        by MrJersey on Tue Apr 24, 2007 at 06:45:51 AM PDT

        [ Parent ]

        •  electronics (1+ / 0-)
          Recommended by:
          MarketTrustee

          are generally the same in England as in the States, but the prices in pounds are the same as they would be in dollars, if not more. We have VAT instead of sales tax, and that runs about 15%.
          Using Amazon.com and Amazon.co.uk for comparison and, since Amazon.com doesn't add sales tax, add whatever they charge where you are (ours in Fort Worth ran around 10%):
          iPod Nano US $142.49 or GB £115.58 ($230)
          Kitchen Aid stand mixer: $199.00 or £328.96 ($659)
          The telling example for me is in apparel, where even expensive clothes sometimes fall apart like the worst of Wal-Mart's after a month or so of washing.

          •  Look at other goods (1+ / 0-)
            Recommended by:
            northsylvania

            The iPods are made in China which helps explain the price difference in view of the dollar peg to the yuan.

            If you compare other goods, the difference is not so large or even reverses. A Nikon D50 camera is $799.99 on Amazon US and £429.95 in the UK. If you have to add 10% sales tax, that would make it $880 vs $860 equivalent.

            Kneejerk reactions do not come from knees.

            by londonbear on Tue Apr 24, 2007 at 08:50:27 AM PDT

            [ Parent ]

            •  dollar peg (0+ / 0-)

              I had no thought of that, but it makes sense.
              A lot of stuff in GB, food for instance, is the same or cheaper for like quality. Eating out is not, but once again there is a definite difference in preferred lifestyle that accounts for much of that. The high taxes are made up for by having National Health which, as much as the Brits like to gripe about it, is much better than what even most middle class people expect in the States.
              For our age, the difference is a wash because we have what's neccessary to live and really don't care to collect any more. I think it would be difficult to be starting out here though.

        •  Depends (1+ / 0-)
          Recommended by:
          MarketTrustee

          The £17 ($33) DVD player in Tesco's is likely to come from Korea or China - possibly Vietnam these days. Remember that the source of cheap UK goods was traditionally Hong Kong.

          There are import tariffs to stop dumping to protect EU industries - allowed for under GATT/WTO rules. Some of these add to the sales ticket price but the main factor is the inclusion of VAT (sales tax) ranging in the 15-22% band (the UK is 17.5%) International competition drives prices down as you can import an item from another part of the EU at no customs duties and it will work because of harmonised standards. Actually this is one case where the EU is helping the British - Apple sells i-Tunes cheaper in the Eurozone than in the UK and has restrictions to stop you buying from here. That has been indicated as illegal and Apple will have to do something about it.

          BTW, my LCD television bought in September was made in the Czech Republic.

          Kneejerk reactions do not come from knees.

          by londonbear on Tue Apr 24, 2007 at 08:26:21 AM PDT

          [ Parent ]

      •  By the way, if you don't think that the Chinese (1+ / 0-)
        Recommended by:
        Janosik

        stuff in the US is pure crap, walk around a Wal-Mart sometime and see what is selling there.  Cheaply made, fall-apart soon stuff, for an increasingly impoverished people.  

        And it feels like I'm livin'in the wasteland of the free ~ Iris DeMent, 1996

        by MrJersey on Tue Apr 24, 2007 at 06:49:04 AM PDT

        [ Parent ]

      •  they still do (0+ / 0-)

        at least they do from Bermuda ---may not be as much anymore. It's been some years since I worked retail. But every summer we'd have flocks of Bermudans who came to King of Prussia just for the shopping.

        all Along the Watchtower...... blogroll

        by terrypinder on Tue Apr 24, 2007 at 07:49:27 AM PDT

        [ Parent ]

    •  Tourists come to the US? (0+ / 0-)

      Not easy to get a tourist visa these days if you are some color other than white.

    •  Tourists? (0+ / 0-)

      Homeland security finger print and harrashment?

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