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February 18th, 2004
04:45 am - A sad sort of sense
Amid persistent concerns over the giant US trade and budget deficit, the value of the dollar fell to record lows in comparison to European currencies. The pound is currently trading at about $1.90, an 11-year high. The European Central Bank is expected to take no measures to limit the value of the Euro.
See, when you build huge deficits and show no reasonable plans for cutting them, the rest of the world begins to think that you're irresponsible and that your money is, therefore, not worth as much.
No wonder trumping up a war didn't improve the economy.
Current Mood:  sad
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![[User Picture]](https://l-userpic.livejournal.com/127159675/456560) | | From: |  ktynes |
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| Date: | February 18th, 2004 07:43 pm (UTC) |
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| | Devalued dollar | (Link) |
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...is usually good for business. It always means more exports to foreign markets. Go figure. That's funny, I just had that conversation a few hours ago.
The King of the Hill can't stay up there forever, no matter how silver his tongue. |
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