Monday, October 01, 2007

Why the Dollar Is a 98-lb. Weakling

iStock/Thinkstock
Spend some time in the hotels, restaurants and even newsstands of Western Europe these days, and as an American you understand pretty quickly that you're poorer than you once were. To be precise, you're 40% poorer--to go by the dollar-euro exchange rate--than you were six years ago.
Read more here.

1 comment:

Hobbes said...

My finance professor recently gave some pointed advice to all the students here to secure our future: Absolutely, positively become fluent in one or more foreign languages, especially ones like German or French. The dollar is never again going to enjoy its status as *the* global currency, from this day on the Euro is going to continue to gain ground.

And whatever the specifics in the future, it's a *very* good idea to be flexible enough to work abroad, or even to emigrate in a pinch-- many people in IT or engineering, for example, have been learning languages like German and emigrating for years, following the dot.com collapse. Now this applies to the general economy, and it's why more and more professionals from the USA but also Canada, Australia and the UK have been leaving for the Eurozone countries, to earn a salary in Euros. That's the best way to secure good economic standing these days.