Our Long National Nightmare Of Peace And Prosperity Is Finally Over
September 27, 2007 4:37 PM Subscribe
The US dollar keeps sinking. Interestingly enough, the all-time low of the euro vs. the dollar was in October 26, 2000, at 0.82 $ (versus 1.42 $ now).
Gee, I wonder what happened ?
This post was deleted for the following reason: this is not a good post for metafilter. it is axe-grindy, it has weak links, it's not really about something neat on the web. -- jessamyn
Well, I tagged it "bushfilter". With all the broken records lately, I couldn't help being struck by the fact that the euro is almost twice the worth in dollars as it was at its all-time low. Then I checked exactly when that all-time low had been and...I guess I couldn't help being struck by the coincidence.
posted by Skeptic at 4:51 PM on September 27, 2007
posted by Skeptic at 4:51 PM on September 27, 2007
Wow. The BBC, wikipedia and the Onion. Thanks Skeptic. I'd never have found these wonderful, untrodden corners of the web without you.
posted by felix betachat at 4:55 PM on September 27, 2007
posted by felix betachat at 4:55 PM on September 27, 2007
Tony Blair's behavior begins to be a little more understandable.
posted by jamjam at 4:59 PM on September 27, 2007
posted by jamjam at 4:59 PM on September 27, 2007
This is more of a bet than a post: what is the worst beating the US dollar can take in this race? TWO Euros? THREE POUNDS?
It's like an office pool. I'll take £3.01.
Thanks for the heaping of scorn, though.
posted by chuckdarwin at 5:04 PM on September 27, 2007
It's like an office pool. I'll take £3.01.
Thanks for the heaping of scorn, though.
posted by chuckdarwin at 5:04 PM on September 27, 2007
I went to Spain this month for a professional conference and came back with about twenty-five euros in my pocket. The way things are going, I think I'll just tuck that twenty-five euros under my mattress and call it my retirement plan. In thirty years or so it should buy me a house in Iowa or something.
posted by verb at 5:07 PM on September 27, 2007
posted by verb at 5:07 PM on September 27, 2007
Well, to make a long story short, the euro had only several years' history before 2000 - but besides that, our interest rates were much higher, the various European economies were still in the dumps and were still working out the kinks in being a part of the EU. Many people were unsure the Euro would even work. On top of that the US was a safe haven for investment due to it's economic stability and national security. None of which can reasonably be blamed on the idiot in the white house. This post sucked and should be deleted as it is uninformed, baseless axegrindfilter. I repeat, sucked.
posted by horsemuth at 5:09 PM on September 27, 2007
posted by horsemuth at 5:09 PM on September 27, 2007
With all the broken records lately
Uhhhh, yeah.
posted by Armitage Shanks at 5:12 PM on September 27, 2007
Uhhhh, yeah.
posted by Armitage Shanks at 5:12 PM on September 27, 2007
See. It's shit like this that makes me glad I've stockpiled all that gold.
One day everything is going to crash, and l'll be laughing becuase I've got piles and piles of beautiful, delicious gold.
I call extra-sharp cheddar cheese "gold" because it makes me feel all rich and important.
But seriously, I love cheese.
posted by quin at 5:23 PM on September 27, 2007 [1 favorite]
One day everything is going to crash, and l'll be laughing becuase I've got piles and piles of beautiful, delicious gold.
I call extra-sharp cheddar cheese "gold" because it makes me feel all rich and important.
But seriously, I love cheese.
posted by quin at 5:23 PM on September 27, 2007 [1 favorite]
This is not necessarily a bad thing.
It also is not Bush's fault - although he has worsened the problem with his unwise tax cuts and stupid war. The US has run a trade deficit for a long time which meant that the US dollar dropping was likely to happen at some stage.
In Australia, due to the commodities boom our dollar is strengthening rapidly. This is causing serious damage to our manufacturing industry.
Whereas, now manufactured good from the US will drop in price.
The other thing is that the US government will still, presumably, be able to borrow in US dollars. This means that unlike other countries, where big drops in their dollar cause their own government's debt to expand the US's government debt does not.
The week's Economist has more
posted by sien at 5:23 PM on September 27, 2007
It also is not Bush's fault - although he has worsened the problem with his unwise tax cuts and stupid war. The US has run a trade deficit for a long time which meant that the US dollar dropping was likely to happen at some stage.
In Australia, due to the commodities boom our dollar is strengthening rapidly. This is causing serious damage to our manufacturing industry.
Whereas, now manufactured good from the US will drop in price.
The other thing is that the US government will still, presumably, be able to borrow in US dollars. This means that unlike other countries, where big drops in their dollar cause their own government's debt to expand the US's government debt does not.
The week's Economist has more
posted by sien at 5:23 PM on September 27, 2007
This post is interesting. It shouldn't be deleted.
People will pop up with some decent points.
posted by sien at 5:24 PM on September 27, 2007
People will pop up with some decent points.
posted by sien at 5:24 PM on September 27, 2007
to make horsemuth's shortened long story shorter:
"They make things. We make excuses."
posted by hexatron at 5:25 PM on September 27, 2007
"They make things. We make excuses."
posted by hexatron at 5:25 PM on September 27, 2007
flagged for making me roll my eyes so hard they popped out
posted by Justinian at 5:25 PM on September 27, 2007
posted by Justinian at 5:25 PM on September 27, 2007
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posted by boo_radley at 4:40 PM on September 27, 2007