Comments | tamisevens: what a lovely time to go to Europe

tamisevens

what a lovely time to go to Europe

Feb 27, 2008 01:56

Dollar falls to record euro low

The dollar has fallen to a record low against the euro as traders bet that further interest rate cuts will be needed to stem a US recession. The euro rose to $1.509 after buying $1.50 on Tuesday for the first time.

How much worse is this going to get?

Wait, don't answer that question.

Comments 11

tea_and_vinyl February 27 2008, 10:43:21 UTC

Yeah, it's not pretty right now. Ugh.

manningkrull February 27 2008, 10:54:01 UTC

Guh, I was just telling Courtney last night I didn't think it had quite hit $1.50 yet. I know I can survive at 1/$1.50, and I'm sure I can survive at 1/$1.60 (et cetera), but it gets really scary when you imagine it just getting worse and worse forever without stopping. I don't know anything about economics but I'm hopeful it might turn around a bit when we get a new president.

phanatic February 27 2008, 12:48:14 UTC

Nope. Hillary spent three minutes last night talking about how she was going to screw over our two largest trade partners, and Obama's to her left on matters economic. Someone needs to engrave Smoot-Hawley on a couple of stone tablets and beat those two around the head until they get it.

And McCain's not much better.

This is a mess that's been over a decade in the making. You can't turn that around with a new President unless he really understands economics, and none of the current crop of candidates do. Except for Paul, and he's a) unelectable and b) totally batshit crazy.

toomskt February 27 2008, 15:16:34 UTC

yeah. I've spent way too much time wishing The West Wing was real and we had an economist president like Martin Sheen.

tamisevens February 27 2008, 20:52:30 UTC

I don't know, I read some article last night at 3am that said it's likely by the end of 2008 it will likely go back to about 1.35 and the Euro is artifically over-inflated and so on.

see, this is when going back to my old tour guide gig in Paris starts to seem more and more appealing. must find a way to make Euros in Amsterdam.

toomskt February 27 2008, 15:17:17 UTC

I remember back when I used to gripe that the pound was 1.5 against the dollar. Crazy.

tireswingtales February 27 2008, 17:02:20 UTC

this isn't making our summer trip any more welcoming!!!!!

tamisevens February 27 2008, 20:50:30 UTC

God, I bet, especially since you guys want to spend time in one of those crazy "we use pounds" type of countries. ugh.

prettykate February 27 2008, 18:44:57 UTC

Since our friends Ben and Christa just announced that they are having a baby (yay!), we aren't going to Malta this year and I am dissapointed, but I am also relieved.

I think this is the perfect time to check out South America.

tamisevens February 27 2008, 20:49:27 UTC

I like the way you think.

online_stalker February 27 2008, 23:16:45 UTC

omg go to PERU! macchu picchu and the andes and the beach and the amazon jungle - all in one country, and all relatively affordable! we have flickr pictures you can find by set for inspiration.

argentina is supposed to be beautiful and cheap; we were thinking about going there this year, but the flight is expensive and more importantly LONG - i'm not interested in an 11 hour flight to south america.