20 September 2007

US Dollar keeps dipping

Just how low will it go? Is a hyperinflation on the horizon, as the drop of the US dollar spirals out of control?

It now costs over $1.40 US to buy one Euro. Meanwhile the Canadian dollar has hit parity with the US dollar, for the first time since the 1970s.

Just a few years ago, it only cost 80 cents to buy one Euro, and 60 cents to buy a Canadian dollar.

Combined with the British pound now fetching well over $2, it will now be that much more expensive for me to go abroad, whether for a quick Canadian weekend or for a week in Europe.

One can only thank W's disastrous and irresponsible economic policies for making this happen. But then, destroying the American middle class, and preventing it from traveling abroad and getting enlightened, probably was in his best interests anyway.