But I heard this speech. Did you?
By the way, Senator Obama wrote all the words.
Wednesday, March 19, 2008
Monday, March 17, 2008
U.S. Dollar Collapsing
The U.S. dollar will now buy only about 97 yen as I write this post. It was around 120 not too long ago. The dollar has performed comparatively well against the Japanese yen, but apparently the normally activist Bank of Japan has no problem allowing the dollar to slide.
The good news is that my employer provides reasonable hedges against currency risk, so I do better than most. And my employer reports earnings in U.S. dollars, so a weak dollar is great news for the company on Wall Street. Most other U.S. expats and tourists will get hurt, however.
I will do a lot of shopping in the U.S. during my next trip there.
Although 97 yen is low, it's not the all-time record low. The record low of about 85 yen was set at the end of the first Bush recession, in the early 1990s.
The good news is that my employer provides reasonable hedges against currency risk, so I do better than most. And my employer reports earnings in U.S. dollars, so a weak dollar is great news for the company on Wall Street. Most other U.S. expats and tourists will get hurt, however.
I will do a lot of shopping in the U.S. during my next trip there.
Although 97 yen is low, it's not the all-time record low. The record low of about 85 yen was set at the end of the first Bush recession, in the early 1990s.
Thursday, March 13, 2008
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