First BBQ Thread to go to GD? Or, what the F*** are Bush & Co. doing to the dollar??

[Spectre_of_Pithecanthropus]

As you’ve probably heard by now, the dollar hit an all-time low against the Euro, aided and abetted by the government’s redefinition of what a strong currency means. We all thought that to describe a currency as “strong” meant that it holds its own against other currencies. But apparently we were wrong. A strong currency, so they say, means that it’s “difficult to counterfeit”. Umm, yeah. That really helps my stepdaughter as she heads for the UK next Saturday. I suppose they’ll soon decide that a strong currency means that the paper note has at least a certain minimum amount of shearing strength–i.e. difficult to tear.

So where’s this all going to end?

[Tars_Tarkas]

So where’s this all going to end?

Rock Island, IL?

[World_Eater]

*Originally posted by Spectre of Pithecanthropus *
**So where’s this all going to end? **

Once the feds knock the interest rate up that should help a bit.

[rjung]

They’re doing the same thing they’ve done to everything else – F**k it up and blame it on someone else.

[manhattan]

Actually, if you’re interested, there was already a GD thread on this precise subject a little while ago. There was broad agreement in the thread that the dollar had to come down (and has to come down some more), but disagreement whether Sec’y Snow’s comments risk accelerating the decline too quickly. All rather civilized, actually. Or you can be an idiot like rjung and just rant against Bush without a scintilla of knowledge about currencies.

Sorry you’re stepdaughter will have a more expensive trip as a result, though. Having done Europe on a strong dollar and on a weaker dollar, I can certainly agree that for tourism purposes (or moving there purposes, or whatever her trip is about), it’s more fun with a strong buck!

[rjung]

*Originally posted by manhattan *
Or you can be an idiot like rjung and just rant against Bush without a scintilla of knowledge about currencies.

This is the BBQ Pit. Fuck off, dipweed.

(That is the proper protocol for this forum, right? Every other word has to be a profanity, or was that every third word? Lemme check the guidelines…)

[Steve_Wright]

Er. The UK doesn’t actually use the Euro, you know …

[system]

*Originally posted by Spectre of Pithecanthropus *
As you’ve probably heard by now, the dollar hit an all-time low against the Euro, aided and abetted by the government’s redefinition of what a strong currency means. We all thought that to describe a currency as “strong” meant that it holds its own against other currencies.

Can’t hold against massive overvaluation.

But apparently we were wrong. A strong currency, so they say, means that it’s “difficult to counterfeit”. Umm, yeah. That really helps my stepdaughter as she heads for the UK next Saturday. I suppose they’ll soon decide that a strong currency means that the paper note has at least a certain minimum amount of shearing strength–i.e. difficult to tear.

Your daughter’s trip is of trivial interest in the end, strong currencies should not be made to assist in tourism.

Better, try being an investor in a company with Euro denominated inputs selling in a dollar-pegged zone. Now that is painful.

So where’s this all going to end?

Who knows, likely with an overshoot. You might do well to be rather more worried about US interest rate implications than your daughter’s jaunt.

Pity Samclem’s obs in my thread went unremarked.

BTW aside to Mr Wright, dollar is losing value vs Sterling as well.