Kuwait kicks sand on the dollar

[mazdamazda]

US economy... $13 trillion GDP for 2006. That's equal to the whole output of Europe and still more than China's (who have 6 times more people).

Btw, the 64% debt to GDP ratio isn't really "alarming" as compared to the debt of other countries...

http://www.answers.com/topic/list-of...by-public-debt

#2, Japan 175%
#9 Singapore 100%
#20 Philippines 69%
#26 Germany 68%

I think that clears out the issue of dragging the US economy on the fiscal policy change by Kuwait.

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Yes - the dollar is weaking... but that's the way things work... you are up sometimes and you are down sometimes.

[empy]

heps, i just read on businessweek that the reason that Kuwait was pegging its currency to the dollar because it and other ME countries (Saudi Arabia among them) are planning to change their currency to a single regional currency (like the euro). now that Kuwait felt it was costing them too much and pulled out, i guess that means the death of that plan...?

[Flagg]

Sorry mga guru, noob lang me sa mga financial indicators...

Yung theory ko for the cheap US Dollar is punish ni Bush yung EU for not supporting Iraq...

One should also observe how the EU is doing... their economic performance and legacy costs (naks!) show no reason for the Euro to be so strong...

[mazdamazda]

heps, i just read on businessweek that the reason that Kuwait was pegging its currency to the dollar because it and other ME countries (Saudi Arabia among them) are planning to change their currency to a single regional currency (like the euro). now that Kuwait felt it was costing them too much and pulled out, i guess that means the death of that plan...?

Well, Kuwait has had a fixed exchange rate for quite sometime now.

But yes, there are talks of a ME single currency which they will peg with the dollar. As I've read it, Kuwait's move will only make the shift to the single currency more complicated but not impossible.

[wrcastro_ph]

but I think Kuwait dinars is still not accepted in other countries. Even here in Philippines, I haven't seen a black market that exchange Kuwait's dinar.

Been there twice last year and the exchange rate was 180 for a peso.

Kuwait's economy is very good, maybe because of their lots of ex-pat. Most of the locals are very relax and quite lazy.

[badkuk]

...then there's that nasty little war over at iraq, draining america's coffers

[jjmichaels]

Seems like the U.S. is trying out some scheme based on the threat of China's super emerging export economy, that's all. Hawak na nila ang Arabian oil so having said that tapos na ang boxing sa world domination. The U.S. dollar will always be the mighty dollar. Kung baga "All your base are belong to us!"

[jjmichaels]

Oh just try not to be near their capital or some famous U.S. landmark when a "crazed" terrorist or anti-christ president succeeds in detonating a nuclear device.