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I am retired in Baja Mexico. Last week the MX peso was 10.0 to $1.00 (even exchange) Today I went to pay my phone bill (they except dlls). The exchange rate was MX 9.90 to $1.00. My dollar is worth LESS!!!!!! What in the world is going on in Washington????? Steve
Hahahaha....tell me about it. We just moved back to the states from overseas. If I have to get paid in dollars, I'm going to spend them in America. We were under an employment contract, getting paid in $USD direct deposit and spending foreign currency in a foreign economy. At least a 35% loss in value over 5 years.
The Brits I knew though, working for British companies and being paid in British pounds, were making an absolute killing overseas. Their pound has been going up up up against every foreign currency. They were doing extremely well.
Sorry Steve, but I think your dollar will continue to go nowhere but down. Maybe you should come home for a while and spend your retirement dollars in America where they aren't quite as devalued.
Financials took a big hit today even though the DOW went up....its going to keep dropping in value until America gets a hold of government spending...
Government spending has nothing to do with it. Countries were abandoning the US$ under the Clinton Administration, which had a budget surplus, a higher interest rate and and lower national debt.
If the US does a complete about face on it foreign and trade policies, and maintains that posture for 30 or 40 years, perhaps 50 years from now countries will view the US as benevolent and starting using US$ again.
In the mean time, everyone should go long on the Euro.
Government spending has nothing to do with it. Countries were abandoning the US$ under the Clinton Administration, which had a budget surplus, a higher interest rate and and lower national debt.
If the US does a complete about face on it foreign and trade policies, and maintains that posture for 30 or 40 years, perhaps 50 years from now countries will view the US as benevolent and starting using US$ again.
In the mean time, everyone should go long on the Euro.
So you are saying that a government deficit of 480 Billion this year has no effect on the dollar?
I am retired in Baja Mexico. Last week the MX peso was 10.0 to $1.00 (even exchange) Today I went to pay my phone bill (they except dlls). The exchange rate was MX 9.90 to $1.00. My dollar is worth LESS!!!!!! What in the world is going on in Washington????? Steve
It's not worth more. At a 9.90 Peso -> 1 Dollar exchange rate a Dollar is still worth nearly 10x a Peso.
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