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andrewduckerYou know how the US economy is doing alright at the moment? How the stock market is way up?
Not if you calculate it in Euros it isn't.
According to the Dow Jones graph here the January starting price was 9020 and the current price is 10502, which is a 16% increase.
According to the exchange rate graphs here, last January a Dollar was worth 0.94 Euros and at the end it was worth 0.81 Euros. Which means you'd need 16% more dollars to buy a Euro at the end of the year.
Meaning that the US has pushed down it's currency and made it much harder to buy imports for a net gain of.... nothing
Of course it's actually worse than that, what with today's Dollar/Euro price being 0.79 and falling.
Still, the newspapers say that the US economy is doing well, so who am I to argue?
Not if you calculate it in Euros it isn't.
According to the Dow Jones graph here the January starting price was 9020 and the current price is 10502, which is a 16% increase.
According to the exchange rate graphs here, last January a Dollar was worth 0.94 Euros and at the end it was worth 0.81 Euros. Which means you'd need 16% more dollars to buy a Euro at the end of the year.
Meaning that the US has pushed down it's currency and made it much harder to buy imports for a net gain of.... nothing
Of course it's actually worse than that, what with today's Dollar/Euro price being 0.79 and falling.
Still, the newspapers say that the US economy is doing well, so who am I to argue?
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no subject
Date: 2004-01-06 10:51 am (UTC)