Remember the good old days when the American dollar reigned supreme in the world? Where everyone held their collective breath over the New York Stock Exchange? Where anyone would be happy to be paid in those US greenbacks?
Those days died a very quick and painful death.
Today the US dollar is at an all-time low against the Euro and British Pound. Since I arrived on September 23rd, the Dollar has lost 10 cents to the euro. 10 cents per month is a rate that should alarm even the poorest of the poor.
The US dollar is now worth less than the the Canadian dollar. So say goodbye to jokes about the Canadian looney... because to get one looney you'll have to part with US$1.07. Ironic that the currency of our neighbor to the north so accurately describes certain things in America. (I'll let you each decide for yourselves what I am referring to... no need to get particularly political here.)
Gisele Bundchen, the world's richest model, has even decided that she doesn't want to be paid in American dollars. According to her spokespeople, the uncertainty as the to current and future strength of the US dollar makes her unsure and she is now more confident with other currency. Specifically, she prefers the euro.
On the positive side, it doesn't look as if this trend is going to fix itself any time soon. I'm guessing at least not for a few years. And if it continues in this manner I'll practically be a billionaire by the time I come back to the US in July. So NYSE keep plummeting! Housing market take that dive! American banks, don't stop unethically lending money to people you know are too poor and incompetent to ever pay you back! American public, don't worry about saving money, just keep spending!
(But if you could all stop that by about 2010 so I can come back to Europe without paying an arm and a leg, that would be great.)
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