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the_walrus
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« on: October 31, 2007, 03:35:53 AM » |
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...is falling even more! $2.07/£1! At this rate, I'll soon be able to pay off my American student loans with little more than a tenner. Giddy-up!
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donstefano
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« Reply #1 on: October 31, 2007, 04:33:28 AM » |
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It has its downsides as well: applying for interesting academic jobs in the US is now just out of question. The dollar is so weak that taking a job in the US is financial suicide, because it means I will never be able to financially afford a return to Europe/UK after some years in the US.
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the_walrus
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« Reply #2 on: October 31, 2007, 04:43:41 AM » |
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It has its downsides as well: applying for interesting academic jobs in the US is now just out of question. The dollar is so weak that taking a job in the US is financial suicide, because it means I will never be able to financially afford a return to Europe/UK after some years in the US.
Well, that's assuming the dollar's permanently devalued, which I seriously doubt. These things have a way of correcting themselves. Actually, seems to me that if you've been in Europe/UK long enough to own property here, now's a great time to move, since you could sell your place here, cash in on a great exchange rate, and buy something nice in the US, doubly nice, actually, since property prices are tanking there as well. If you took a job in the US, surely you'd plan to stay for at least 5 years, within which time I'm sure, unfortunately for me (at least if I'm still in the UK), the dollar bounces back. |
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normative_
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« Reply #3 on: October 31, 2007, 05:11:32 AM » |
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The dollar will continue to move sideways and downward for the next year at least. By then, the financial system will have had the chance to continue releasing loss reports from the mortgage side of the business. At some point it will bottom out and start moving up again, that's true. That will especially be the case when concerns about the state of the economy are allayed and the Fed returns its attention to inflation.
Knowing the Fed, they'll continue to lower interest rates or keep them low at least until the federal elections next November. That means more inflation and a weaker dollar. Watch today's announcement and see. Assuming the Democrats win the White House, the Fed will start talking about inflation and reining in the economy then. Just like they did with Jimmy Carter.
I'm more curious whether this will have any effect on the sterling/euro rate. Those rates continue to be stable, but the Bank of England and the ECB seem to have different approaches to interest rate and inflation risks.
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« Last Edit: October 31, 2007, 05:13:43 AM by normative »
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Fortune favors the bold. Excellent analysis by Normative. All hail Normie! Normative, that was superb. |
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qrypt
Qryptacular & not really a Member-Moderator
Distinguished Senior Member
Posts: 5,439
the great vampire squid round the face of humanity
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« Reply #4 on: October 31, 2007, 07:32:33 AM » |
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It has its downsides as well: applying for interesting academic jobs in the US is now just out of question. The dollar is so weak that taking a job in the US is financial suicide, because it means I will never be able to financially afford a return to Europe/UK after some years in the US.
Well, that's assuming the dollar's permanently devalued, which I seriously doubt. These things have a way of correcting themselves. Actually, seems to me that if you've been in Europe/UK long enough to own property here, now's a great time to move, since you could sell your place here, cash in on a great exchange rate, and buy something nice in the US, doubly nice, actually, since property prices are tanking there as well. My thoughts exactly - I'm ready to cash in and buy a palace in Shaker Heights or Mt Airy. Speaking of the dollar - that stupid piece of paper has to go! It's time for coin-only. |
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"I'm tired of being your love slave!"
"Does that mean I'm not going to get my coffee?"
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expatinuk
Has spent over 1000 pounds but now holds a Brit passport!
Distinguished Senior Member
Posts: 6,653
From SC living in UK
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« Reply #5 on: October 31, 2007, 08:05:36 AM » |
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We just sold a house here in the UK. We've got money in the bank. I keep showing Hubby Bubba real estate listings at the large lake near my home town (Pry knows) We could get a lake front plot and build for what we've got....
We really want to build a house... but it's darn near impossible in the country. If you FIND anything it's going to be tiny and you'll pay at least 250K just for the land.
Sigh....
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Expatinuk seems to be a Soviet Satellite in stationary orbit over the UK
It is what it is.
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wegie
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« Reply #6 on: October 31, 2007, 08:41:49 AM » |
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We really want to build a house... but it's darn near impossible in the country. If you FIND anything it's going to be tiny and you'll pay at least 250K just for the land.
And then when you do the survey you discover that part of the plot hosts a population of protected newts and it gets designated as an SSSI . . . I think you should be joining me on the train to France next week for my initial reconnaissance trip. |
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normative_
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« Reply #7 on: October 31, 2007, 08:43:04 AM » |
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Speaking of the dollar - that stupid piece of paper has to go! It's time for coin-only.
Can you get anything for a dollar any more? |
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Fortune favors the bold. Excellent analysis by Normative. All hail Normie! Normative, that was superb. |
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the_walrus
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« Reply #8 on: October 31, 2007, 12:32:07 PM » |
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Speaking of the dollar - that stupid piece of paper has to go! It's time for coin-only.
Can you get anything for a dollar any more? I'm pretty sure you can still get a Mexican peso or two. Whether that's still a new peso or if you have to have a few of the old ones, I'm not so sure... Maybe you can get some Zimbabwean currency? |
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georgia_guy
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« Reply #9 on: October 31, 2007, 12:52:03 PM » |
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Speaking of the dollar - that stupid piece of paper has to go! It's time for coin-only.
Can you get anything for a dollar any more? A Coca Cola |
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I'm the bad guy? How'd that happen
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normative_
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« Reply #10 on: October 31, 2007, 12:53:39 PM » |
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Speaking of the dollar - that stupid piece of paper has to go! It's time for coin-only.
Can you get anything for a dollar any more? I'm pretty sure you can still get a Mexican peso or two. Whether that's still a new peso or if you have to have a few of the old ones, I'm not so sure... Maybe you can get some Zimbabwean currency? Heck, they'll take anything. I still have a stack of one dollar bills left over from my last trip to the middle east. At least there, a buck could buy you a little attention. Not much, but a little. |
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« Last Edit: October 31, 2007, 12:54:22 PM by normative »
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Fortune favors the bold. Excellent analysis by Normative. All hail Normie! Normative, that was superb. |
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prytania3
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« Reply #12 on: November 06, 2007, 08:12:45 PM » |
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We just sold a house here in the UK. We've got money in the bank. I keep showing Hubby Bubba real estate listings at the large lake near my home town (Pry knows) We could get a lake front plot and build for what we've got....
We really want to build a house... but it's darn near impossible in the country. If you FIND anything it's going to be tiny and you'll pay at least 250K just for the land.
Sigh....
Oh Lake M! That would totally be the life, and you'd be able to build a grand place. I'd love living on a lake, but that's me. Sounds like you would like it, too, though. |
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Clowns, I tell you. Clowns.
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southbound
New member
Posts: 21
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« Reply #13 on: November 08, 2007, 05:49:28 AM » |
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I'm here for the year (directing a study abroad program from midwest SLAC). Thing is, I'm still getting my regular salary *in dollars*, which does pinch a bit. Fortunately the program covers a lot of expenses so I don't have to live like I just got my pay cut in half.
One of the first strategies I adopted last summer: NOT to do the mental conversion. So, I can say pleasantly to myself, "Oh, only 2 pounds 30 for a pint? I'll have a couple."
in denial in the Midlands...
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expatinuk
Has spent over 1000 pounds but now holds a Brit passport!
Distinguished Senior Member
Posts: 6,653
From SC living in UK
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« Reply #14 on: November 08, 2007, 06:09:33 AM » |
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in denial in the Midlands...
Welcome to the Midlands... I'm in the Midlands. Avoid the M6 |
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Expatinuk seems to be a Soviet Satellite in stationary orbit over the UK
It is what it is.
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