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Author Topic: We're Number Two!! We're Number Two!!  (Read 2572 times)
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unbreakable
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« on: March 15, 2008, 03:20:39 PM »

Weak dollar costs U.S. economy its No. 1 spot

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The U.S. economy lost the title of "world's biggest" to the euro zone this week as the value of the dollar slumped in currency markets.

Taking the gross domestic product of both economies in 2007, the combined GDP of the 15 countries which use the euro overtook that of the United States when the European currency surged to a record high of more than $1.56 per euro.

"The curious outcome of breaching this latest milestone is that the size of the euro zone's annual output has now exceeded that of the U.S.," the economics department of Goldman Sachs, the Wall Street investment bank, said in a note to clients.

Taking official estimates of 2007 GDP -- $13,843,800 billion for the United States and 8,847,889.1 billion euros for the euro zone -- the economy of the latter passed the United States once converted into dollars, shortly after the euro topped $1.56.

The dollar sank to $1.5688 per euro late in European trading hours on Friday, at which rate the euro zone's 2007 GDP equates to $13,880,568.4 billion.

The 2007 GDP estimates are as published by the U.S. Commerce Department's Bureau of Economic Analysis and provided to Reuters on request for the euro zone by Eurostat, the European Union's statistics office.

And the real kicker... the EU is just getting bigger and bigger.
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gellar
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« Reply #1 on: March 15, 2008, 03:25:30 PM »

I'm shocked it took this long.

gellar
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CeeKay
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« Reply #2 on: March 15, 2008, 05:08:11 PM »

just let me know when it's time to switch sides  icon_wink
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« Reply #3 on: March 15, 2008, 05:16:36 PM »

We're increasing the value of their currency over there so that we don't have to increase the value of ours over here.

Or something.
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« Reply #4 on: March 16, 2008, 02:46:00 PM »

That's okay.  We'll be #3 soon enough, because you KNOW China's about to take it all over, economically speaking.

And  the worst part is, it's pretty much our own fault for letting them manufacture most of what we use here.
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« Reply #5 on: March 16, 2008, 05:07:41 PM »

Go go Europe!

At least the Europeans are nice enough.
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« Reply #6 on: March 16, 2008, 05:11:44 PM »

Quote from: CSL on March 16, 2008, 05:07:41 PM

Go go Europe!

At least the Europeans are nice enough.

Europe is such a nice country  icon_wink
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« Reply #7 on: March 19, 2008, 03:50:59 PM »

Quote from: CeeKay on March 16, 2008, 05:11:44 PM

Quote from: CSL on March 16, 2008, 05:07:41 PM

Go go Europe!

At least the Europeans are nice enough.

Europe is such a nice country  icon_wink

Yea, I can't think of any time we've had a problem in that region.  slywink   Tongue
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« Reply #8 on: March 19, 2008, 05:08:09 PM »

Even more epic fail: Europe is beating America in broadband.

Looks like resting on our "ZOMG WE SAVED YURUP!!!" or "ZOMG WE MAKED TEH INTARWEBZOR!!111!" isn't going to cut it in the 21st century.  Who could have forseen?
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« Reply #9 on: March 19, 2008, 05:58:17 PM »

Quote from: unbreakable on March 19, 2008, 05:08:09 PM

Even more epic fail: Europe is beating America in broadband.

Looks like resting on our "ZOMG WE SAVED YURUP!!!" or "ZOMG WE MAKED TEH INTARWEBZOR!!111!" isn't going to cut it in the 21st century.  Who could have forseen?

Well, being in the industry I can honestly say that a lot of it is restricted by inability to move by big business.  Sure, 90% of our stuff would migrate to the new standards and give 100mbps to our customers, but that other 10%?  Yea, that is our 1980s-era billing system.  It works, why pay money to upgrade?  etc.  You know the excuses...
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« Reply #10 on: March 19, 2008, 06:46:07 PM »

There was an article a few weeks ago detailing how the government gave huge tax breaks to the telco industry in order to get broadband going, with the goal of 100mbps by 2010.  Looks like we are going to be just a big off from that speed.  Probably pretty unlikely they will pay that money back, too, since they won't make the goal.

Same article also said that in America we pay something like $30 for 2mbps, while in Japan they are paying $35 for like something like 100mbps (or more, I don't recall the exact figure).

But yeah, it's definitely because they can make a ton more money charging us for slow service.  I'm also pretty ticked off at municiple wifi getting axed all over the place.  Wasn't Google supposed to wire San Fran?  I haven't heard about it being completed, but what would surprise me about the fail is that Google really doesn't care about how people access- they make money simply from people being connected (well not that easily, but they make money from ads, and not from connection fees).
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« Reply #11 on: March 20, 2008, 12:57:13 PM »

Very true unbreakable, the .gov gave tax breaks to telcos to move them towards 100mbps service for consumers, but damned near every telco is held hostable by another telco - AT&T.  Nearly every line we use at work comes from AT&T, and our voice circuits with Level 3 can and do touch AT&Ts backbone on occasion.  They aren't charging less for bandwidth, so we pass that lack of savings onto you, the consumer.  Shitty deal to be sure.
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« Reply #12 on: March 20, 2008, 03:01:26 PM »

Wow, I did not know ATT was the roadblock, but that doesn't surprise me in the least.
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« Reply #13 on: March 20, 2008, 03:42:28 PM »

I think we just need to let the Japanese invade and take over.  the we can get cool boradband and their whacky game shows too!
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« Reply #14 on: March 20, 2008, 04:32:04 PM »

Quote from: unbreakable on March 20, 2008, 03:01:26 PM

Wow, I did not know ATT was the roadblock, but that doesn't surprise me in the least.

Well, there is another one, but surprisingly it looks like that may be changing.

http://www.news.com/8301-10784_3-9898118-7.html

Interesting reading on the redefinition of the term 'broadband'. 

Oh, and before everyone scrambles for a super-awesome 100mbps modem, realize that the vast majority of cablemodems are DOCSIS 1.0 or 1.1 compliant and thus only capable of 15mbps throughput (they are supposed to do 48/10 but most don't adhere to the standard).  Even if they get up to DOCSIS 2.0, that only grants 42.88Mbps downstream and 30.72Mbps upstream.  You gotta get to 4 channel DOSCIS 3.0 before you break 100 and 8 channel to reach over 300.  (long story short, you'll have to buy a new modem)
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« Reply #15 on: March 20, 2008, 04:36:00 PM »

Quote from: Knightshade Dragon on March 20, 2008, 12:57:13 PM

Very true unbreakable, the .gov gave tax breaks to telcos to move them towards 100mbps service for consumers, but damned near every telco is held hostable by another telco - AT&T.  Nearly every line we use at work comes from AT&T, and our voice circuits with Level 3 can and do touch AT&Ts backbone on occasion.  They aren't charging less for bandwidth, so we pass that lack of savings onto you, the consumer.  Shitty deal to be sure.

Perhaps we should break AT&T up, then...

Oh, wait. Tried that. It basically reassembled, and nothing was done to stop it. Damn you AT&T! DAMN YOU!
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« Reply #16 on: March 20, 2008, 04:41:22 PM »

Comcast in my area just introduced a 50 mbps service for residential, not that I would ever need anything that fast but its interesting to know that it is out there.   So we are starting to get towards faster speeds, ill keep my 8 mbps speed for now though, its not worth the extra money for something that fast.
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« Reply #17 on: March 20, 2008, 06:10:41 PM »

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So we are starting to get towards faster speeds, ill keep my 8 mbps speed for now though, its not worth the extra money for something that fast.

i think the point isnt about where the us is STARTING to go, its about some other parts of the industrialized world whos companies already offer more, for less

for some reason, us companies have become "infrastructure adverse" in recent years (broad and general, to be true - but i dont think im DRASTICALLY overreaching when i say it), where in the past there was a concerted effort to bolster infrastructure investment and performance

(im guessing here) that it has to do with the us consumers response to advertising - advertising dollars translate to more sales than infrastructure improvements.  in public companies theres the additional pressure of returning to shareholders (which is best served by not showing investment "losses," or simply returning possible investments to shareholders as dividends)
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unbreakable
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« Reply #18 on: March 20, 2008, 06:17:56 PM »

Quote from: Fireball1244 on March 20, 2008, 04:36:00 PM

Quote from: Knightshade Dragon on March 20, 2008, 12:57:13 PM

Very true unbreakable, the .gov gave tax breaks to telcos to move them towards 100mbps service for consumers, but damned near every telco is held hostable by another telco - AT&T.  Nearly every line we use at work comes from AT&T, and our voice circuits with Level 3 can and do touch AT&Ts backbone on occasion.  They aren't charging less for bandwidth, so we pass that lack of savings onto you, the consumer.  Shitty deal to be sure.

Perhaps we should break AT&T up, then...

Oh, wait. Tried that. It basically reassembled, and nothing was done to stop it. Damn you AT&T! DAMN YOU!

Not only that, but they are effectively the evil twin of the company which was originally broken up.
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« Reply #19 on: March 20, 2008, 07:07:59 PM »

Quote from: unbreakable on March 20, 2008, 06:17:56 PM

Quote from: Fireball1244 on March 20, 2008, 04:36:00 PM

Quote from: Knightshade Dragon on March 20, 2008, 12:57:13 PM

Very true unbreakable, the .gov gave tax breaks to telcos to move them towards 100mbps service for consumers, but damned near every telco is held hostable by another telco - AT&T.  Nearly every line we use at work comes from AT&T, and our voice circuits with Level 3 can and do touch AT&Ts backbone on occasion.  They aren't charging less for bandwidth, so we pass that lack of savings onto you, the consumer.  Shitty deal to be sure.

Perhaps we should break AT&T up, then...

Oh, wait. Tried that. It basically reassembled, and nothing was done to stop it. Damn you AT&T! DAMN YOU!

Not only that, but they are effectively the evil twin of the company which was originally broken up.

You can tell - the new ATT uses the Death Star as their logo and sports a Goatee.
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« Reply #20 on: March 21, 2008, 03:37:43 PM »

We're so screwed.

I'm thinking of investing all my available cash into gold.
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