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Dollar hits new low against euro: Financial News - Yahoo! Finance (http://biz.yahoo.com/ap/080715/dollar.html - broken link)
Here are the facts:
USD to EUR: 0.6259 All time low.
Oil: $146 a barrel
Wholesale prices are up 9.2% y-y (highest in 27 years)
Federal Debt: $9.5 Trillion being added to $2 Billion a day
Federal Unfunded Liabilities: $60 Trillion
Gold: $981 +38% y-y increase
Silver: $19.28 (+49% y-y increase)
This country was ruined by design and it's being sold-off piece by piece. It is the only way to have foreigners buy our debt to keep this BS economy going.
Most of my customers are foreigners. The weak dollar helps me. And I am not alone -- many aspects of the US economy are international, and their overseas sales are booming.
To a certain extent, having foreigners hold our debt is a good thing. It forces them to support us and buy our products. They certainly do not want us to forfeit on their investments.
The current economic slump is world-wide, and is the result of alterations in the production and consumption of raw materials, particularly petroleum. The emerging consumer markets in India and China should make any savvy business person salivate. E.g., I would give my right arm to have a Buick dealership in Shanghai....
When the Euro first came into play, the USD was getting 1.10 euro to the dollar; it's now about .58 (after conversion costs). I doubt it will be 1/1 again any time soon.
Our newspapers lately have been full of advertisements for cheap flights to the US (Aer Lingus is currently selling seats at just 249 euros into NY or DC), and all of the ads are encouraging us to take "shopping trips", not sight-seeing packages, with these low fares.
We're thinking about going over --between the currency rates and the bargains, a holiday in America wouldn't cost much more than taking one much closer to home, say in France or Spain. I imagine that tourism-related businesses in America will benefit during this year's Christmas shopping season especially, along with all the outlet malls etc.
I got an excellent last-minute deal on a Dublin hotel recently too, because so many Americans are staying away from Europe, due to the expense of visiting these days; unfortunately, several hotels have been forced to close because of the downturn in tourism.
I guess we just have to find the advantages in whatever situation we've got for the moment. One thing I don't want to do now is buy heating oil ($146!?) ...but then, I'm afraid to wait, too, as it only seems to go up!
When the Euro first came into play, the USD was getting 1.10 euro to the dollar; it's now about .58 (after conversion costs). I doubt it will be 1/1 again any time soon.
Our weak "paper", ink printed, non gold, non nothing backed, unconstitutional federal rip-off reserve, printers going 24 hours a day (devaluation by the minute). I tried to explain this to some co-workers the other day, man I would not want to be a teacher!
In 1960 or '64?, you could get a silver dollar for a paper dollar. Today, If you were to buy a 1964 silver dollar it would cost you $35! While gold and silver stay near constant, the dollar as with all fiat money will become worthless. Inflation? I say a super devaluation going on. Speeding up the inevitable.
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