Thursday, September 2, 2010

THE EURO VS THE DOLLAR

One's excitement at landing in Europe is quickly muted when you hit the cambio or exchange. I stood there realizing that the dollar is not quite worth what one thinks it should be. The euro costs about 40+ cents premium. I gave them $600 and they gave me about e380. Add to that the fact that things cost much more there. A bottle of water in a gas station here runs about a buck. There it is 2-3 euros which is 3+ dollars. Filling a gas tank costs $100 or more.

Think about this. Our Gross Domestic Product (GDP) is about 14 trillion dollars. The next closest in the world is China at about 1.4 trillion. We are the strongest economy in the world by 10 fold. How could it be that our dollar is so deflated? Not to mention that Europe,like us, is drowning in debt--Spain, Portugal,Italy, Greece all seemingly bailed out by France and Germany, while England struggles with 2012 Olympic overload. Something or many somethings are very wrong.

More importantly, what can we do to change this? Who should we put in charge of our great nation? My simple minded opinion is that we elect a business oriented person. Someone who can turn our great country around like they are doing at Ford and GM.

Sarah, you need not apply. We need you to continue keeping an eye on Russia for right now.

Bye for Now,

Bill

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