I just brought back some US$ from Vegas (yes, one of the lucky few). Strolled on over to Barclays and traded them in at the rate of $2.03 to the British pound.
Yes, $2.03 for £1. That means a glass of wine down at the pub is now around $12US. A hamburger around $20US. And a condo in the US that would have sold for $150,000 a few years ago now sells for $500,000. Meanwhile, your paycheck stayed the same.
Get it? Got it? Good.
Trade Deficit Is 2nd Highest Ever
The Commerce Department reported Monday that the deficit in the current account rose to $218.4 billion in the April-June quarter, an increase of 2.4 percent over the deficit in the first three months of the year.
The current account is the broadest measure of foreign trade because it covers not only trade in goods and services but also investment flows between countries. The deficit represents the amount the United States must borrow from foreigners to cover the shortfall
So far, foreigners have been happy to hold dollars in payment for American purchases of cars, televisions and foreign oil. But the concern is what would happen should foreigners at some point decide they want to hold less in dollar-denominated assets.
A rush for the exits by foreigners could send U.S. stock prices and the value of the dollar plunging and send American interest rates sharply higher.
September 19, 2006
On and on and on and on... The greatest transfer of wealth in the history of humanity continues as US trade deficit hits $218 Billion in Q2
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All truth passes through three stages. First, it is ridiculed; second, it is violently opposed; and third, it is accepted as self-evident. --Arthur Schopenhauer
I have never made MORE than these last few years, none of this paycheck "stayed the same" crap here! In fact, gas just gets cheaper and my greenback buys more lately.
Good! Now go take your fantasies somewhere else!
put down the bong....
Anon 8:56:26 AM
The Truth Stage these HP Posters are In.
Stage One: Ridicule
Keith - connect the dots in your brain - you see the extreme bubble in the U.K, yet you also talk up the pound being 2X the near worthless dollar. Explain that one more time? Are not both worthless.
Pretty clear to me a lot of these housing blogs are run by Hedge Funds - which one do you work for?
Bloody hell!
That's the highest the Dollar has been against the Pound in years....
...right, where's my old Post Office account, with 37.42 GBP in it from 1985...?
OK, I know it sucks. But tourists are going to have a field day over here in the US with that kind of exchange rate.
Inflation Is Deflation.
You can buy less with your dollars because your dollars are worth more.
A can of Coke has always cost $3.50.
And we have always been at war with Eastasia.
Nothing to see here folks, please move along.
- Sincerely, The Ministry Of Truth
By all the sudden Troll activity it's clear we are in stage 2 of the truth. Funny how they actually proved the point of the poster...
Your bank too advantage of you.
The exchange rate is $1.88 per English pound..
GK
Go the Hell away!!
No one is interested in your Amway or Whatever your peddlin'!
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