....in June 2001 at 121.21, so holding dollars [or any paper equivalents] has cost 35% of purchasing power since then….. 12.5 yearshttp://futures.tradingcharts.com/historical/US/2001/0/contin...
Living in a foreign country (for an American) with a rising currency brings this home in spades.... Ouch!
....in June 2001 at 121.21, so holding dollars [or any paper equivalents] has cost 35% of purchasing power since then….. 12.5 yearsThat was right about the time the world's reserve currency turned away from budget surpluses and onto a path of ever increasing budget deficits. From a path of paying off its debts within 10 years onto "Debt doesn't matter" highway.Probably just coincidental events.....Poz
Living in a foreign country (for an American) with a rising currency brings this home in spades.... Ouch!DougThat is a very important point often lost on the vast majority living in the home country. I recall the reaction of the US military people I worked with in Germany when the German mark went above parity with the US$. I was paid in DM at the time and the AAFFES became a great place to bargain shop. The local commander banned all non-US citizens from the commissary because it was subsidized by taxpayers. I learned to "shop on the economy" from that experience and actually came to enjoy it. Another issue often missed is that dividends paid in foreign currencies can suffer some interesting fluctuations. We lived very close to both the Dutch (5 minutes) and Belgian (20 minutes) borders so tended to carry DM, US$, Dutch guilders and Belgian Francs in our wallets. }};-()Any <been there, done that, have several old t-shirts to prove it> mouse
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