ATTN: The dollar has fallen to a record low against the euro

Coexist

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Tue Jul-10-07 04:36 PM
Original message

ATTN: The dollar has fallen to a record low against the euro

From the BBC:

The dollar has fallen to a record low against the euro and yet another 26-year slump against the pound.

With investors fearful that the ongoing downturn in the US housing market will start to slow the economy, the euro rose as high as $1.3741 on Tuesday.

The dollar's latest fall came after the key Standard & Poor's credit rating agency said it may downgrade $12.1bn (�6bn) in sub prime mortgage debt.

<snip>
"It is evident the market remains concerned about the sub-prime mortgage fallout on the financial sector and the housing market," said ABN Amro economist Melinda Smith.

Shit.

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HiFructosePronSyrup

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Tue Jul-10-07 04:38 PM
Response to Original message

1. This wasn't unexpected, wasn't it?

That housing market bubble isn't finished bursting yet either, is it?

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Coexist

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Tue Jul-10-07 04:40 PM
Response to Reply #1

3. not even close

I cringe when I see those "interest-only loans" on COMMERCIALS! As if they were actually a SMART idea. Those used to be for desperate people - now they have ads touting "smart" people with "pocketsful of cash" due to their interest only loans.

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HiFructosePronSyrup

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Tue Jul-10-07 04:43 PM
Response to Reply #3

6. I bought one of them retro-mortgages from James Garner.

It's working out great. I got all this money and the bank hasn't even moved into my spare bedroom yet.

:thumbsup:

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Coexist

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Tue Jul-10-07 04:44 PM
Response to Reply #6

9. LOL!

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villager

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Tue Jul-10-07 04:38 PM
Response to Original message

2. So much for visiting "old Europe," eh?

tho' we'll be a pretty good travel bargain for them, once we get the crazy people out of the White House and the country might be worth tentatively stepping foot into, again...

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tandot

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Tue Jul-10-07 04:43 PM
Response to Reply #2

7. I have family planning to visit from Germany. They are pretty happy about it.

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Coexist

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Tue Jul-10-07 08:30 PM
Response to Reply #7

10. remember when...

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Selatius

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Tue Jul-10-07 04:41 PM
Response to Original message

4. I have never seen the Euro that high against the Dollar before.

It will be terribly expensive to visit locations in the EU for a while yet.

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ElizabethDC

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Tue Jul-10-07 04:41 PM
Response to Original message

5. Ick. I'm in Europe right now -- would someone please fix this problem so I can afford to buy stuff

while I'm here?

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hatrack

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Tue Jul-10-07 04:43 PM
Response to Original message

8. "Will START to slow the economy"? WTF?

Edited on Tue Jul-10-07 04:43 PM by hatrack

:eyes:

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