The Euro is crashing

[Killer]

The Euro Is Crashing Below $1.20

http://static.businessinsider.com/image/4c0a543b7f8b9aba22bd0000-590-/chart.png


Time for a trip to Europe?

I'd go for a stay in a Scottish castle / whiskey distillery tours.

http://www.scotland-inverness.co.uk/Chatelaine/list.htm

[SteelerEmpire]

That reminds me. If you want to get a really good insight into whats going on with the current money problems of the country (and yours personally)... check out this program... LINK: http://video.pbs.org/video/1479100777/

[WindyCitySteelerFan]

Bunch of countries are dropping the Euro, fast! Going to take down the entire region...

What more evidence do we need to NOT have a global economy/government.

[ALLD]

All those OPEC nations that were pushing oil to be denominated in Euros within the last few months look pretty dumb right now. The reason the Euro is tanking the US stock market is that it makes our exports more expensive. When the dollar tanked about a year ago into the current financial crisis, many of the DOW companies went up because of a forecasted spike in revenue. Now the dollar is making lost ground and the Euro could reach parity.

[BnG_Hevn]

Isn't it tanking because of Greece? The country is virtually bankrupt.

[SteelMember]

Isn't it tanking because of Greece? The country is virtually bankrupt.

Can't they just print more, or get a loan from China. :doh:

[Killer]

and gold shoots up.....time to cash in those old wedding bands

http://static.businessinsider.com/image/4c0d13967f8b9aec2bb70200-576-366/chart.png

[suitanim]

Well, first off, the demise of the dollar has been GREATLY overstated. I remember just a few years back when a supermodel demanded to be paid in euro's, not dollars, and the pessimists decided that was the end of the US.

Guess not.

However, the temporary decline of the euro has absolutely no bearing on the FACT that we live in a Global economy. What's actually happening (and this is straight from Warren Buffet, by the way), is that economies are settling into letting the people who are best at what they do do what they are best at doing.

For instance, you take raw material (like cotton). The US raises the crop, then ships it by rail to a port, where it is shipped by sea to a country like China, that cheaply mills it. It's then shipped to another country where it's cheaply made into a piece of apparel, like a pair of jeans. It's then shipped BACK to a port in the US, then by rail to a warehouse in the US, and ultimately gets sold at a Wal-Mart or something for less than $20.

If that whole process took place in the US, the costs involved would push the end price of jeans to twice or three times that amount.

You don't have to like it. I don't. But it's the way things are now. Unions have done their fare share to contribute, and so has corporate greed, but the bottom line is that there was no way to sustain a world of have's and have not's, so this is what we end up with.

The devaluing of the euro will have some net gains for the Euro-zone...cheaper exports, and tourism are two the spring to mind.

[The WH]

Hate to break it to ya Killer but Scotland still uses the British Pound.

Sweden kept the Kronor, muahahahahaha