When I returned back to Switzerland after having lived in the USA for 20 years 1971 I exchanged my savings from $ into Swiss francs and got for each $ Fr. 4.30. Now the exchangrate is Fr. 1.14 and the experts feel that the dowfall has not as yet finished. When the Euro was introduced you got for one Euro $ 0.84 and now the exchangerate is $ 1.52.
The Bush administration keeps saying that one is for a strong $ but with the large budget deficit and the very negativ trade ballance there is little chance of a return to a strong $. It is said that a week $ is good for the export industry but on the other hand a week $ is very inattractiv for foreignr to invest in the USA and it is only a matter of time until the Japanese and other folks in Asia will no longer be ready to subsidize the USA deficit.
This forum will enable anybody to discuss the grave probls the week $ might be causing. |
