Tuesday, July 10, 2007

Euro gets high too

Okay, I could've been wrong about how global currencies work because, apparently, the fact that the euro is now at an all-time-high in comparison to the US dollar is bad news for the dollar. Also the British pound was recently at a 26 year high. So, maybe the dollar really is doing badly. I do trust the Economist, who recently argued that the US economy is bloodied but unbowed. This doesn't sound good:

"The dollar is a basket case," said Peter Schiff, president of Euro Pacific Capital Inc. "We are going to pay the piper for years of having the underlying fundamentals of our economy disintegrate beneath our feet."

I'm glad my money's in loonies. I can't wait until some Presidential candidate tries to get political mileage by arguing that the euro is working with the terrorists though.

2 comments:

gregvw said...

Now is a great time to be making a living in Europe. *nudge nudge*

Rufus said...

Well, I'm just now starting the long process of becoming a Canuck. But, I will admit that during the eight months that I'll be researching in France I'm planning to also research living in France.