American Dollar and Joe Six Pack

Discussion in 'Economics' started by arbprofit2, Sep 21, 2007.

  1. In your opinion, how aware of the falling US dollar is the average American citizen? Do they have any idea of how this could impact their future?
  2. clacy


    Zero. I would estimate that 90% of Americans have no idea where the dollar stacks up against other currencies, nor would they have any idea what a rising or falling dollar means to them or the US.

    With that said, I'm not sure if economists even "know for sure" what the ramifications of such things are in today's world.
  3. Who in the hell uses dollars? Credit cards BABY!!!
  4. maxpi


    Manufacturing for exports could rise and the out of work construction guys could have jobs in that sector
  5. Initially, a falling dollar will be characterized as good... good for exporters, etc... we all know that story.

    What won't be told is that all Americans and foreigners who hold our debt will lose buying power. That is, all of us SUCKERS will be subsidizing the "good" that someone else receives.
  6. maxpi


    Do most americans hold any debt?? Upper class holds debt, Joe 6 is in debt. Wages and prices at Wal Mart affect Joe 6's mentality, not bond returns..
  7. Not very well aware. Most Americans are unaware of the existence of other currencies next to the US Dollar. Sad but true.
  8. On average, most Americans have an IQ below 100, and almost half have no reading/comprehension skills past the 6th grade.
  9. maxpi


    And they manage to live better than 90% of the rest of the world!! It's hardly ever about IQ and intellect..

    I worked for decades and rarely could I find a worker to worker conversation about economic things. I found people to be profoundly unable to assess even the pay and benefits of their own employer yet many of them were accruing small fortunes in their 401k's...
  10. this is really true. even people who are extraordinarily well educated in other disciplines go blank when you bring up economics. i think this is changing though, i know a pack of high school kids in the area, good kids, but straight up kids nonetheless who understand inflation and defecits shockingly well. if you had asked me or any of my friends about this stuff in highschool in the early 90s, we had no clue (but were also competetive students)

    they're probably not representative of most high school kids, but i think a lot of average americans understand what's going on intuitively, if not the reasons why

    the symptoms effect everybody whether they know why or not
    #10     Sep 21, 2007