Guest
10-26-2010, 11:47 AM
I got married in August. I proposed in July 2009. By November 2009, we had an idea of where we wanted to go on our honeymoon and started making plans, buying tickets, etc.
Since we chose to go to Europe, I kept an eye on the Euro and the British Pound Sterling - and how the U.S. dollar did against them (since the Euro was at $1.60 when my daughter was backpacking across Europe by train for a month).
I had some guilty good feelings when the Greek/Irish/Portuguese crisis hit because the dollar rose against the Euro. Then I saw this article in May:
http://money.cnn.com/2010/05/18/news/international/euro_low.fortune/index.htm
Part of the problem, says BNP Paribas, which called for dollar-euro parity by 2011, is that Europe will probably be forced to switch from using fiscal tools to monetary instruments in its attempt to heal the system. That would mean printing money, which, BNP Paribas notes, would send "the euro massively lower."
Since then, the Euro (which bottomed out around $1.21) has rebounded to about $1.40.
Just another example of why predictions made over the air aren't worth the paper they're (not) printed on.
Concerning our own economy, the following article is by a person who's fed up with Paul Krugman's constant left-wing gloom-and-doom writing for the NY times
http://www.fool.com/investing/general/2010/10/26/dear-paul-krugman-enough-already.aspx?source=ihpsitota0000001&lidx=3
No one -- even economists -- fully understands how a complex, adaptive system like the U.S. economy really works. Yet that's precisely what Krugman is selling here with his excessively definitive stance on the issue.
How many times do we need to be burned by economists (of any political stripe) and their lousy, confidence-laden predictions to learn that economists don't really know what they're talking about?
Makes one not want to get out of bed in the morning..
Since we chose to go to Europe, I kept an eye on the Euro and the British Pound Sterling - and how the U.S. dollar did against them (since the Euro was at $1.60 when my daughter was backpacking across Europe by train for a month).
I had some guilty good feelings when the Greek/Irish/Portuguese crisis hit because the dollar rose against the Euro. Then I saw this article in May:
http://money.cnn.com/2010/05/18/news/international/euro_low.fortune/index.htm
Part of the problem, says BNP Paribas, which called for dollar-euro parity by 2011, is that Europe will probably be forced to switch from using fiscal tools to monetary instruments in its attempt to heal the system. That would mean printing money, which, BNP Paribas notes, would send "the euro massively lower."
Since then, the Euro (which bottomed out around $1.21) has rebounded to about $1.40.
Just another example of why predictions made over the air aren't worth the paper they're (not) printed on.
Concerning our own economy, the following article is by a person who's fed up with Paul Krugman's constant left-wing gloom-and-doom writing for the NY times
http://www.fool.com/investing/general/2010/10/26/dear-paul-krugman-enough-already.aspx?source=ihpsitota0000001&lidx=3
No one -- even economists -- fully understands how a complex, adaptive system like the U.S. economy really works. Yet that's precisely what Krugman is selling here with his excessively definitive stance on the issue.
How many times do we need to be burned by economists (of any political stripe) and their lousy, confidence-laden predictions to learn that economists don't really know what they're talking about?
Makes one not want to get out of bed in the morning..