Via Prom6, here's a data point that is troublesome. Take those worthless greenbacks elsewhere, Yanks.
AMSTERDAM (Reuters) - The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands."Our dollar is worth maybe zero over here," said Mary Kelly, an American tourist from Indianapolis, Indiana, in front of the Anne Frank house. "It's hard to find a place to exchange. We have to go downtown, to the central station or post office."
That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.
The dollar hovered near record lows on Monday, with one euro worth around $1.58 versus $1.47 a month ago.
What are the candidates going to do about the dollar's decline, specifically? That's my question.
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What will they do? Probably
What will they do?
Probably let it slide so that our debt becomes easier to pay off (since it's in USD, and I think China finally unpegged the Yuan from the USD).
And you'll probably here some shit about how it increases GDP due to exports. That is, if we still had much of a manufacturing sector left to export stuff.
And on the other hand, corporate executives will start getting paid in Euros.
What will they do?
"And on the other hand, corporate executives will start getting paid in Euros."
Funny, in an unfunny sort of way. I think Gisele Bündchen got that ball rolling.
it's really bad--
i was in Rome in Nov, and Spain just a week agoish, and the difference even bet those trips was noticeable. I was getting 1.60 to the euro or worse, depending on the ATM.
When 10 bucks only equals 6 euros, you end up paying almost that much for a little sandwich (bocadillo) alone, or a basic tiny tapa and a small beer.
and a 1.50E cafe con leche standing up at a bar/cafe counter is suddenly almost up to Paris cafe prices instead of what it should be (which is $1-1.50).
I can't even go near London anymore, which has always been way overpriced to begin with (and bad value too). At least Euroland has good food. : >
if OPEC and China stop using/buying $$, we're dead--
those are the only things propping it up at all, i think.
And the EU economy is very strong overall, while individual countries within it are hit or miss.
& everyone on the sidewalks here in Manhattan is from Europe--
since the summer that's been the case--far fewer Americans, and all Europeans-- who are rich here now, and paying nothing for clothes, which were always cheaper here to begin with.