How will the US debt crisis affect us online marketers?

@Masihi (4228)
Canada
July 30, 2011 1:21pm CST
I'm just thinking, that many online marketing programs use the USD, and the USD is failing due to the debt crisis. If the US gov't does in fact default on August 2nd, how will it affect us marketers who typically use the USD? I know I lose money when I transfer to CAD - $11 if I convert $150 to from Dollars to Canadian Dollars, I get $139 CAD back. I"m afraid that the USD will sink lower and lower. What are your opinions? Perhaps some of you guys have a better knowledge in this area of finance and global market than what I have. Thanks.
2 people like this
6 responses
• United States
30 Jul 11
I am sure we will see some sort of an effect, lets just hope that it will bring more people from now on online to make money. If not then there may be a problem with people paying their bill to go online. In the end I am sure we all will be feeling an effect.
@Masihi (4228)
• Canada
30 Jul 11
A marketing buddy said that's why he's going online because of the economy in Greece is so bad, and his income was cut big time, and with debt, he's desperate to earn money online. Canada's economy's doing very well, but I'm in debt so I'm struggling to earn as well. I do hope more people come online to earn money, although everyone that I know personally is pretty much against that sort of thing.
• United States
31 Jul 11
Yes many are against it thinkig they will lose money if they knew what we did, that they could make money for free, I am sure they would be doing it.
@RawBill1 (8542)
• Gold Coast, Australia
5 Aug 11
This has already affected my online earnings. My Paypal account has not looked as good once converted to Aussie dollars for a while now. I used to get about $1AUD to each 75 to 80 US cents in my account. Now it is the opposite. It is only going to get worse too for online marketers outside of the USA as the currency will decline further as the country gets in even worse trouble. It is my opinion that the USA's days as a super power are over. I think that they deserve it too after wasting so many billions of dollars on their stupid wars over the years. I do not mind the situation though as it makes it a lot cheaper for us to import goods that are made overseas into Australia. Seeing as this is where my main income comes from, it more than offsets my losses from small online earnings at sites like this.
1 person likes this
@Masihi (4228)
• Canada
7 Aug 11
Ya, cheaper stuff from the USA....until we have to pay hefty prices for shipping and handling fees :-s
@RawBill1 (8542)
• Gold Coast, Australia
7 Aug 11
Yes. Shipping fees have gone up big time for us, but that is being more than offset by the cheaper products. As you can imagine, shipping to Australia from the USA is pretty expensive too! Especially when we are ordering by the pallet load!
@neildc (17257)
• Lapu-Lapu City, Philippines
4 Aug 11
we are really losing money with the effect of debt crisis. even if we do not directly use USD, the effect with us is with the fund transfer with our own currency. though we are still grateful that we still have something to look forward at the end of the month than nothing at all.
1 person likes this
@Masihi (4228)
• Canada
4 Aug 11
That is true, and I think our Canadian Dollar will be stronger than the USD for a long time yet, since they're now talking about downgrading USA's AAA credit rating. Canada just last week got its credit rating upgraded to AAA, which is why that makes me think the USD will be causing us to lose money. I would like to start working with programs that either deal in currencies in CAD or Euros.
@monouu (2612)
• Singapore
31 Jul 11
I'm losing money too & stop withdrawing online money to my bank recently because of the poor exchange rate. I use the money for some little investment instead so it can generate more money for me at this bad time. I really hope US govt can do something about it.
1 person likes this
@Masihi (4228)
• Canada
1 Aug 11
Aww, that sucks I hope that more European admins will open up sites and we can all do business in the Euro currency, that'll be more ideal. I think the US market may affect the Euro, though, not sure, I'm not a financial expert or anything, but it's also something in the back of my mind, wondering. Anyway, today's August 31, and we have 2 more days to see what's gonna happen in the American Parliament......
@topffer (31193)
• France
30 Jul 11
I have the same problem than you. Due to the low value of US$, I don't convert my US$ to Euros since 3 months and I am losing money every week. I wish that USA will find a solution, or I will lose a large part of my earnings in US$. I have joined two sites paying in Euros last month, and I hesitate to join new sites paying in $ now : it is a disaster. I hope that you are wrong and that the USD will stop sinking.
1 person likes this
@Masihi (4228)
• Canada
30 Jul 11
I'm hoping I'm wrong as well, I think it's a good idea to be looking for programs that pay in euros, although the euro may also be affected - hmm, I guess we can only wait and see what transpires this Tuesday. This sucks, though, the waiting period combined with the uncertainty, that is.
@puccagirl (7316)
• Israel
30 Jul 11
Well, the exchange rates will be affected for sure, and I guess there is not really much to be done about that. Other than that, I guess how much you will be affected depends a lot on what you are marketing. People who are marketing luxury products and travel for instance, will probably take a bigger fall than those marketing coupons and other frugal things, if you know what I mean.
1 person likes this