Ouch.
Looks like I need to find a new continent. Wonder how Africa is in the summer?
Ben Bernanke hates you. Expats know that more than others, but you'll find out soon enough. Enjoy earning those depreciating dollars. And you might want to listen to Schiff...
Euro Soars to New Record
Buoyed by Slipping US Economic Reports, Euro Soars to $1.5057, a Record
BERLIN (AP) -- The euro climbed to a record high of $1.5057 in early European trading on Wednesday as sentiment increased that the U.S. Federal Reserve would continue its rate cut campaign.
February 27, 2008
Dollar hits record low against Euro
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58 comments:
Imagine if the Euros weren't right behind us cutting rates.
Eric - I need Europe's housing crash to kick into second gear. Yes, their rates are going to come down, but not fast enough
Our Fed is panicking faster than their central bank right now
I still think we'll see a reversal as the housing crash hits europe. We'll see their banks take the heat.
Danny
It doesnt matter that the dollar is at a record low against the Europe
It doesnt matter that America has more violent crime than Europe
It doesnt matter that America is being INVADED by third world criminals from MEXICO
It doesnt matter that America's economy is going to the crapper
WHY? Cause Europe is much worse off than America because it has Muslims- WOW! Really? Oh Europe must be doomed? Yes, its a total of 10 million muslims compared to EU's total population of 450 million (WOW- that's a A lot!)
In case you didnt know it- that's Sarcasm for you dumbshits on this blog
I lived the high life in Italy from 1998-2002 and life was grand. The wine flowed and we lived like kings and saved tons on cash. I was great while it lasted, I hear that living there now is nothing like it was from old coworkers.
soon 1 ounce of gold will buy a house.
Temporary state of events. The Euro housing bubble dwarfed the US housing bubble. When the crash accelerates the central banks there will have no choice but to slash rates. Not a matter of if but when.
How can someone short Euros (easily). Is there and ETF?
Talk about a bubble...
These rate cuts have done nothing except to try and fill the banker's and Wall Street's pockets. If you have a savings account or CD, then you're left out in the cold. In fact, you're LOSING money, after inflation, if your money is drawing the paltry current CD or savings account interest rates.
But, my banker is a REAL helper. He said that I could even park in the same bank parking lot where his Lexus is parked. I am so thankful for him.
BTW, I heard that one bank is giving you the chance to win a $35 kitchen gizmo if you keep your money in a 1 year CD. And, don't forget those complimentary ink pens..... Where's my truck keys? I'm gonna' be the first in line!!!
ohhh, poor keithy. is his little european jaunt all ruined by exchange rates?
cry me a river.
this blog was great when it served as a voice in the wilderness. now that the carnage has become mainstream, it's just devolved into crypto-republican talking points, lame whining, and zero serious analysis.
thanks for the good times while they lasted, but it's time to off you from my feed.
The Greatest Real Estate Agent in the World has some downloaded software that has reached the end of its trial period and won't run anymore. The company is in Germany. This means this is the best time to pay for my software in Euros, right?
I'm curious to see if India and China really have stand alone economies or if we're going to take them all down with us.
The US and Europe can actually afford to feed its poor -- I don't think China and India can say the same and I would think war would be in their future if the shit really hits the fan there.
Just returned from Amsterdam...
$ 8.55 for a gallon of gasoline.
$ 4.00 for a Koffee.
MD's make house calls.
The Dutch, Germans and Danes all HATE Bush and think all Americans are stupid and corrupt fat ugly loudmouth pigs.
I think they have nailed it.
America is a POS turd world and the F slobs that inhabit America are too F ing dumb to save.
Keith, no matter how many times you like to belittle America, I have news for you: America is still the greatest nation on the face of this earth. The world still looks up to America and in times of crisis, money flows to America and NOT to Europe. Also, good riddance Keith, yeah, move away to Africa, America doesn't need traitors like you in this great land.
From Yahoo Finance:
The Fed forecasts that inflation will moderate this year compared with last year. But the Fed's recently revised inflation projection of an increase between 2.1 percent and 2.4 percent is higher than its old forecast from the fall.
-----------
So, in other words, their predictions (forecasts) are worth cr@p.
Ouch is right! We're expats paid in dollars. We do get a COLA but it's adjusted every six months. Argh.
The way I look at it he can only cut to zero and the dollar index could go to 55 if that happens. At that point we have a dollar carry trade situation like the japs.
I can see the UK declining quickly with a painful housing crash, but the eurozone is more complicated.
Forget vs the Euro, look at the USD index. It just hit 74.18, an all-time *ever* low. Kudos to the international community to put pressure on Ben each time he testifies. I think they're trying to show him he can't take rates down without repercussions. I hope it goes under 74 today.
Keith,
You are such a drama queen. You live in London right (in fact I'm here staying across the river from the London Eye as I write this- would love to meet up for a pint or 3 on me)... so get a job that pays you in Sterling. What's the problem?
Surely the people you work for would understand and perhaps put you on a local currency contract if you brought up the fact that your cost of living is indexed heavily to local currency.
Of course you wouldn't be able to whine so much and we'd all miss that.
-BC
It will accellerate more now just like a snowball picking up speed down the hill. They need to do whatever they can till after the election - then watch out.
their money is so gay.
ha ha ha I am going to Argentina and Brazil next month ( Europe is so expensive).....
But WAIT ....Brazil is getting so expensive too.......
Did the eurozone experience a housing bubble like the USA? Apart from Britain, I just don't see it. The european economy isn't quite so dependent on easy credit and consumer spending no?
So any bets on when the DX index punches below 70? I remember reading a blog last year that said if it dropped below 85 the wheels would come off.
Amazing how the panicked spin machine is pedalling like mad to keep this circus going.
Can you give me one good reason why I should give a f*ucking rats ass about the Dollar to Euro exchange rate? Let the stinking French frogs drink their own crappy wine, let the Germans sell their over-priced cars to $4/h earning Chinese and Indians. Europe is full of faggots and pussies.
"Anonymous said...
Keith, no matter how many times you like to belittle America, I have news for you: America is still the greatest nation on the face of this earth. The world still looks up to America and in times of crisis, money flows to America and NOT to Europe. Also, good riddance Keith, yeah, move away to Africa, America doesn't need traitors like you in this great land.
February 27, 2008 3:29 PM"
Take you medicine, jerkoff.
you people that think americans are a bunch of lazy slobs compared to europeans have never worked with europeans.
the italians called my wife a slave driver for trying to get 40 hrs a week out of them.
they roll in at 10:00, take 2-3 hour lunches and roll out about 4:30.
and forget about working a weekend.
"Did the eurozone experience a housing bubble like the USA? Apart from Britain, I just don't see it."
You are blind then.
Keith,
Why on earth do you still have dollar-denominated assets? If you had followed your own advice, you would have no need for a new continent.
The folks you need to feel bad for are the U.S. dollar wage slaves.
But buh buh...Bernanke siad in Congress that devaluate dollar doesn't create inflation. And and and he said months ago that the subprime crisis was self contained.
When will the Americans stop being a pussy and start marching the streets, geez, like all those thousands of ILLEGAL MEXICANS who were demanding rights?
This shady group in control is treating Americans like trash and nobody does anything? Unbelievable! Taxpayers don't even push to impeach Bush and Cheney. Not even that! American is a country of pussies. Best nation in the worls my a$$...this place is nothing but a Third World Country marketed as something better to brainwash the sheep.
I lived the high life in Italy from 1998-2002 and life was grand. The wine flowed and we lived like kings and saved tons on cash. I was great while it lasted, I hear that living there now is nothing like it was from old coworkers.
I hear you, man. I did the same in Paris, while studying at Sorbonne. It began turning in 2002. It's crazy there now. Even the French is moving out of there. And Nicolas Sarkozy (the other Obama) will destroy that country. Well, the French voted for it, so don't come crying later, just like the idiots voting for Mr. Empty Suit.
Hey stupid Cramer, do you still think that Gisele was wrong? haha You Snake Oil Salesman mofo.
gold can not go higher than 34,000 an ounce.....something about fort knox buying out all the debt and deficit........and the new class of pesants
Can you give me one good reason why I should give a f*ucking rats ass about the Dollar to Euro exchange rate?
Uh...perhaps because most of your food and all your oil are imports? Not to mention all the Chinese crap that you or your fat dragon like to buy every week for your over leveraged debt trap you call home. What about the $1 billion this POS country needs to borrow every day to make ends meet? Bernanke and the GOP love brainless hicks like you.
USA, the biggest POS nation on earth. There, now all worthless Americans fly your Made in China flags high.
yup its hard to find anyone who wants to bust their assesses and work hard...........when did sensibility arise???????????????//
Anon said:
‘WHY? Cause Europe is much worse off than America because it has Muslims- WOW! Really? Oh Europe must be doomed? Yes, its a total of 10 million muslims compared to EU's total population of 450 million (WOW- that's a A lot!)’
Europe’s problem is the native little brained Europeans.
Idiot..
Europe is much worse off than America because, you all can not get away from an hierarchical system, overwhelming majority of the population are ‘commoners’ a tiny % are the ‘elites’ who ‘educate and protect the masses’.
So the reason Europe is soo fu!#*ed is because those elitist leaders making all the decisions on behalf of the ‘commoners’ make even our dumb a$$ Senators look like geniuses.
Just saw today again how the EU ‘central people management system’ or one of those ‘central something systems’ is continuing its war against Microsoft, not that I think Microsoft is all right, its just that as an American business person, I would avoid doing any kind of business with Europe, it simply makes no business sense to constantly bend over backwards to appease the ‘Central elites’
The current strength in the Euro makes less sense then the ½ million dollar 10 sq ft. fixer upper bungalow in Tampa in 2005.
Well, the French voted for it, so don't come crying later, just like the idiots voting for Mr. Empty Suit.
I am writing in Ron Paul, thank you very much.
What happened? No more HELOCS or housing ponzi scheme to buy bimmers, huh? Aren't you Europeans the sh!t? Enjoy a world economy without American buyers:
BMW to slash another 5,600 jobs
In a cost-cutting move, the luxury automaker plans to hand out more pink slips by the end of 2008.
MUNICH, Germany (AP) -- Luxury carmaker BMW AG said Wednesday it will cut another 5,600 jobs by the end of 2008, on top of 2,500 other positions that have already been eliminated, as it moves to pare expenses amid a wider cost-cutting program.
And that goes to you too, Emerging Markets. No more Americans buying your crap or outsourcing jobs, because that won't be any consumers left. Enjoy.
> Did the eurozone experience a housing bubble like the USA? Apart from Britain, I just don't see it.
What about Ireland,
Spain, Netherlands, Eastern Europe, ...? Apart from Germany and Switzerland, house prices rose unsustainable in most of Europe.
This nation and most of its citizens, residents, dwellers, occupants have no ethic, no moral, no responsibility, no duty, no honor, and last but not least, no brain. What it has in plenty is greed, self-centerness, ignorance, pompousness.
The housing bubble is a shiny mirror in which the Americano can look at itself and ponder upon what may the future brings upon this land of the Snapper Turtle.
A nation that mostly comprises of pigs feeding, tearing, roosting, chomping at the trough.
A nation with most of its dwellers obese, fat, diabetic, and plain ugly like a chimpanzee.
A nation where a Walmart cashier can buy a house for $500K.
A nation in which its citizen's brain IQ is lower than a snapper turtle.
A nation which rules by turkeys, skunks, and rats.
The Americano nation is as toasted as a roasted armadillo skewered from mouth to ass sizzling, popping, oozing with melted golden fat over a bed of white hot charcoal.
America is DEAD,
Yeah, well, I've traveled extensively in NL and I find them rather cold, and not exactly the best-lookers in EU. Belgians (also maligned by the Dutch) are the best of the low countries-- decent looking, warm blooded, great food and beer. The Dutch do have good beer.
On the edge of the world
where the neon screams
diet-coke religions
shotdown tv-screens
American boy loves American girl
most beautiful people in the shattered world
I do believe in all-american dream
I do believe in all-american dream
On the edge of the world
Where the freon streams snortin' up white mountains in the pools of white limousines
Millenium Boy, Millenium Girl
Most beautiful people in this shattered world
I do believe in all-american dream
I do believe in all-american dream
In God we trust.
In Cars we rust.
And I do believe in all-american dream.
http://www.youtube.com/watch?v=tibkeOs50Ys
On the edge of the world
where the neon screams
diet-coke religions
shotdown tv-screens
American boy loves American girl
most beautiful people in the shattered world
I do believe in all-american dream
I do believe in all-american dream
On the edge of the world
Where the freon streams snortin' up white mountains in the pools of white limousines
Millenium Boy, Millenium Girl
Most beautiful people in this shattered world
I do believe in all-american dream
I do believe in all-american dream
In God we trust.
In Cars we rust.
And I do believe in all-american dream.
http://www.youtube.com/watch?v=tibkeOs50Ys
their money is so gay.
Agreed. We have the best looking toilet paper on the planet.
This shady group in control is treating Americans like trash and nobody does anything? Unbelievable! Taxpayers don't even push to impeach Bush and Cheney. Not even that! American is a country of pussies. Best nation in the worls my a$$...this place is nothing but a Third World Country marketed as something better to brainwash the sheep.
Agreed. We are in the same boat as Russia, only about 15 years behind.
Same crappy government, same crappy economy that produces nothing, same looting by the ultra-rich... anything else?
Oh yes: continuing the Russia path... Suzanne and other cokehead ex-realtresses will start showing up on mail-order bride websites in a few years. American girls (well, white ones anyway; I don't think anybody would want the black ones) being trafficked into sex slavery. Other Americans trying to emigrate to other countries.
And I'm free,
free falling...
>I still think we'll see a reversal
>as thehousing crash hits europe.
>We'll see their banks take the
>heat.
*********************************
Good Point there Danny, lets hope for the sake of America this puppy burns up in Europe as fast as is burning up here in the U.S. This will allow the Euro to take a hit and get the pressure off the dollar, we need it badly before inflation kills us!
"This shady group in control is treating Americans like trash and nobody does anything? Unbelievable! Taxpayers don't even push to impeach Bush and Cheney."
Oh, we're pushing alright.
Millions of us have been jumping up and down, waving our arms and yelling our lungs out to keep the brainwashed sheeple majority from following the neocons over the cliff.
But, in the words of one of our fearless leaders: "Impeachment is off the table."
You see, the 'shady group in control' has bought the allegiance of our elected representatives.
The 'shady group' has turned this country into a plutocracy.
US Dollar index falls to 73.81 and is still dropping. Each time Sikorsky Ben is about to talk, and each time *while* he talks, the USD index tanks. At least the Senate is asking some intelligent questions and harping more on inflation.
Ben: "no stagflation", ha, keep dreaming Ben!
SHORT ALL RALLIES
The American Dollar is still the most credible currency in the world. America is still the 800 pound gorilla in the room Keith. If we do head into a deep recession, then the world will put their faith in the U.S. and not Europe, Japan, etc...
" Anonymous said...
The American Dollar is still the most credible currency in the world. America is still the 800 pound gorilla in the room Keith. If we do head into a deep recession, then the world will put their faith in the U.S. and not Europe, Japan, etc...
February 28, 2008 5:25 PM"
Dear Anon:
Do you wear a little American Flag Lapel (made in China painted with lead paint by chid slaves) on your clothing? I BET you DO.
If YOU beieve the abve bullshit phony patriot, than you too, are a F*cking Idiot not wotrth saving.
America SUCKS and is the MOST corrupt peice of shit ever foisted on human beings. Vote for McShitstain asshole. More of the same.
F*ck You.
Blowfly, you are a genius. Some Muslim from Europe will be able to come here and buy your cheap lazy ass, mothball.
"Uh...perhaps because most of your food and all your oil are imports? "
Wrong on both counts. Most of our oil and almost all of our food comes from US sources. Another example of a clueless fool spewing his thoughts on a topic he knows nothing about.
>The American Dollar is still the
>most credible currency in the world. >America is still the 800 pound
>gorilla in the room Keith. If we do
>head into a deep recession, then the
>world will put their faith in the
>U.S. and not Europe, Japan, etc...
Its a sad state of affairs when people still fail to realize just how bad its going to be. We are no longer an 800 pound gorilla, we are a flat tire in a puddle of mud!
WHoohooo Cheap amazon.com stuff:) Just gotta love that exchange rate!!!
Whole USA economy has been keeping it going with loan money(Chinese bankers are smiling) and the cash is going to east.
Europe isnt in the same deep shit what US is going. Just wait till oil will be flowing with Euro thought it's still far away from depression....at least we got huge amount of Euro tourists in NY shopping now days.
Looks like payback time.
"Thank" Greenspan, Bush and B-52 Ben for that cheap money.
Sorry, you have to accept that something was going wrong in your economics last years.
Hey,
sure we have housing bubbles in Europe too. But it will not become so bad:
- Great Britain: does not interest, they don´t have the Euro (Problem of Pound)
- Actually only Spain is a real problem ... but too small to crash the whole currency
I´m glad to have the Euro. It is a good currency.
> And it´s cheap to buy on amazon.com
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