Steve Forbes - The Weak Dollar and the World Economy
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Complete video at: http://fora.tv/2008/08/07/Steve_Forbes_Elections_and_the_Credit_Crisis Forbes Magazine Editor-In-Chief and two-time Republican Presidential candidate Steve Forbes argues that a strong, stable dollar is crucial for the U.S. economy, and examines how business innovation can encourage U.S. competitiveness in the global economy. ----- Leading economic prognosticator, Steve Forbes says the upcoming presidential election is the most critical since 1980. At that time, Ronald Reagan defeated incumbent Jimmy Carter, ushering in dramatic new policies that would set the course of this country for the next quarter-century. What course does Forbes believe the country should take to end the current credit crisis? Will he promote a flat tax, medical savings accounts and a new Social Security system as he did for his 1996 and 2000 presidential platforms? Join us as we discuss what's next for the U.S. economy - The Commonwealth Club of California Steve Forbes is President and Chief Executive Officer of Forbes and Editor-in-Chief of Forbes magazine. Since Mr. Forbes assumed his position in 1990, the company has launched a variety of new publications and businesses. They include: Forbes FYI, the irreverent lifestyle supplement; Forbes Global, the magazine's international publication; and Chinese, Korean, Japanese, Brazilian, Russian, Arabic and Hebrew editions of the magazine. Forbes also publishes the Gilder Technology Report, as well as a number of investment newsletters. In 1997 Forbes entered the new media arena with the launch of Forbes.com. The site now attracts over seven million unique visitors a month and has become the leading destination site for business decision-makers and investors.
Comments
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I think what he meant is when there is a trend that money will be depreciated, people tend to buy commodities such as gold and silver in order to hold onto the purchasing power of their money in the short term.
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Why would anyone "hold onto" money if its depreciating? Wouldn't they do the opposite and get rid of it by buying stocks, bonds, durable goods ect?
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This guy is not an economist, and economists don't even agree with each other. Why should we believe him? He's very rich. He's on that stage because he is a powerful man with an agenda. What is his agenda and why should we trust him? He might believe what he's saying and he's probably a very nice man. But there is no reason to give his opinion any more weight than any other lay person, and there is no reason to trust his agenda.
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Here is why this is all bullshit - economic theory is used by people with an agenda to promote their economic agenda, thereby changing the economy. Economic theory changes the systems it is trying to predict. It is used by the powerful to rationalize and justify their acquastion of power. The economy is complicated. Anyone who tells you that they know how it works is lying. The best they can do is make educated guesses and judgment calls.
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Initially, printing money creates more investment, not less. Although this is more malinvestment than actual wealthbuilding so this is the biggest reason behind the boom- bust cycle.
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@bvagasky83 you sound like a fag.
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@LedZepfan122 Is coherancy a bit too much to ask for? I love how tough people are on the internets. Ah, well, what can you do?
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@bvagasky83 whos gonna laugh at your comment? nobody. so then that means you look for comments like mine and make fun of the author, oh real funny, you must have a phd in being a fucking douchebag, go look what he did to Rage Against the Machine on SNL you fucking cunt
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@LedZepfan122 You sound intelligent (not really).
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steve forbes is a bitch
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Steve Forbes for President. What do you think, Internet?
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Steve Forbes for President. What do you think, Internet?
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Catch other interviews with economic and commodity experts on Industry Watch hosted by syndicated radio show host Al Korelin on EvenKeelMedia
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But he missed the point, and he is not supporting the US$. The fact tht tht the FEDs are still printing US$ and charge interest to the US govt and country is killing the US$, he conveniently circumvent and indoctrinate the pple tht american Intel & Starbucks can prosper in present enviroment. The other fact is that these corps are now multinational n do not need a stable US$ to prosper. Their assets and liquidity may not even be US$ based.
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Good point about the chip industry, but he needs to remember that exports improve when the domestic currency devalues against our trading partners.
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Did he say that people hold dollars when they decline in value to "see what will happen" and get rid of them when they are appreciating in value? That is laughable. Sheerly laughable. Who the hell wants to hold something that is declining in value? This is the problem when businessmen try to explain economics, people think its the same thing when only economists can explain real economics.
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Weak dollars= recovering employment.
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maybe you stiff-shirts should GET NICE with the economy. Be human? ring a bell? to you the "consumer" is just another number to fiddle with. While lives are smashed in your wakes, you pat each other on the back. you're pathological!
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I love steve. He's my hero!
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I agree with you on that one. The more people talk negatively about the U.S., the more people will respond in line with that thinking. As they say; ideas have consequences. I get sick and tired of all the people who keep pushing the idea that the U.S. will go down. I fully believe in Mr. Forbes' concept of trying to keep the dollar strong. I will listen to his inspiring words any day, over the doom and gloomers.
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