The Sad Dollar
03/15/2008 @ 6:00 am
Well, there goes the dollar. One greenback will now officially not even buy you 100 yen. Some say that this will mean more exports from America to Japan, or perhaps more manufacturing of goods in America. Others think it just signals a long and deep recession. I’d like to hear Mr. Pink’s opinion.
I think you meant exports from America to Japan.
Not that my opinion compares to Mr. Pink’s, but I still see no long-term alternative to the dollar. The Euro is headed for rough times, but the question is when.
March 15th, 2008 at 7:22 amWell, gold has broken a 1000 USD. And we’re seeing right now an unusual parity of sorts among the JPY, USD, CAD, GBP, and CHF currencies (among possibly others) (at about 100 to 1 to 1 to 0.5 to 1).
March 15th, 2008 at 7:39 amFixed. And if Mr. Pink disagrees, he will not be shy about letting us know.
March 15th, 2008 at 8:30 amI am astounded by the dollar’s continued freefall. When I arrived just 7 months ago, the rate was over 120 yen to the dollar! That is over a 15% drop in a very short amount of time! Personally, I am sending money back to the U.S. at this exchange rate assuming it will eventually turn around. It hasn’t been this low in 3 years and hasn’t been significantly below this rate in 13 years! Check out a historical chart at: http://bp2.blogger.com/_0jshcRmzyKA/R3mWL7WctFI/AAAAAAAAGYM/br5HgAIDFBA/s1600-h/Dollar+Yen.png
March 15th, 2008 at 9:48 amOn the bright side if you get income from US sources you’ll pay less tax now in Japan.
March 15th, 2008 at 11:11 amI think it means the Pia Cesare Barolo instead of the Chianti Classico next time I’m in Roberto’s.
March 15th, 2008 at 11:23 amOn the bright side, the Canadian dollar still stands just above 100 yen.
March 15th, 2008 at 11:34 amJapanese stock market relies on foreign investors and weak dollar is certainly negative factor for the market. So the Tokyo stock dropped sharply in couples of months.
http://www.marketwatch.com/tools/quotes/intchart.asp?symb=EWJ
We might face a long and deep recession not only in the US but also in many countries..
March 15th, 2008 at 1:05 pmEvery time I’m being paid in yen, it weakens. When I’m being paid in dollars, it strengthens. Either the world economy is out to spite me or else I’m indirectly controlling it. I’ll have to ponder this for a while.
March 15th, 2008 at 10:55 pmwell sadly its no use whining about it Mr.Pink..I find a nicely chilled Blue Nun and a plate of Scampi and Fries perfectly adequate for my slightly austere palate..
have you thought about maybe shifting down market a bit,like say maybe a little something from Lawsons or Nissin World Delicatessan?.
ummm! Prosecco and gyoza - now doesn’t that sound yummy?.
Ciao
remora
March 16th, 2008 at 9:52 am