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Thread: How long will US dollar's decline last?

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[quote=JIMMYB,276106]"Jimmy, have you not realised that America doesn't care at all about anyone else other than themselves? I hope other countries don't get dragged down by America's total irresponsibility, but I have no sympathy at all for this greedy and disillusioned nation."

Baron, I agree with you that America is irresponsible on some international issues. However, she is still No.1 in the world and has tremendous influence over the world economies though she has been in trouble in recent days. On the otherhand, the globalization has connected the world economies together. If the leading one is in trouble, other followers must be affected too.

"To answer your original question JIMMYB, I think the depreciation will continue until the US population wakes up and stops using credit cards to sustain a living standard and start weeding out those culprits that are creating this mess."

Gary, it seems that you hate overconsuming behaviours. I guess that you seldom overconsume, right? Unfortunately, more and more Chinese people have learned to overconsume. The credit card has become very popular in China. Perhaps, they have learned this from America. I am wondering if you have heard of the following story.

An old Chinese woman meets an American old lady in the paradise and look back their whole lives together. The Amercian old lady says:" I have been working hard in last 30 years. Now I have paid off all my housing mortgage loan." The old Chines woman says:" I have been workding hard in 30 years and now I have money to buy a house."

This is a huge difference between American and Chinese ways of spending. The American old lady has lived in her house for 30 years though she has working hard to pay off her debt. However, the old Chinese woman has spent her whole life to buy a house. Finally, she can afford to buy it. Unluckily, she goes to the paradise and didn't live in her house a day.

What do you think of it, Gary?

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