Has The Weak Dollar Changed Anything For You?

jeffrey · #1 (**permalink**) 11-01-2007, 09:27 AM

I was talking to a friend the other day who has decided not to take a planned trip next year to Europe because it has just gotten too expensive with the falling dollar. I was wondering if the weak dollar has affected anyone on the boards in any way?

Broken Arrow · #2 (**permalink**) 11-01-2007, 09:37 AM

Not I, but I'm not planning to go anywhere....

mariogreymist · #3 (**permalink**) 11-01-2007, 09:39 AM

I put my 401K into more european funds. I figure I am taking a hit in the short-term, but a strengthening Euro-dollar relationship will mean increasing profits in companies who are paid in the stronger currency.

PauletteGoddard · #4 (**permalink**) 11-01-2007, 09:59 AM

Quote:

Originally Posted by jeffrey

I was talking to a friend the other day who has decided not to take a planned trip next year to Europe because it has just gotten too expensive with the falling dollar. I was wondering if the weak dollar has affected anyone on the boards in any way?

I buy Canadian coins from the children doing school banking.
I buy gold and silver twice a year.
My "waiting until I find a useful investment" retirement cash is in foreign currency ETFs.
I did none of the above until the Canadian dollar was at par.

DebbieL · #5 (**permalink**) 11-01-2007, 10:22 AM

I'm Canadian and plan to enjoy myself on your weak dollar when I go to Disneyland this December (yah!).

When our dollar was super weak (it was especially horrible in about 2001) I wouldn’t go near the States because it was way too expensive. I remember going to the bank to purchase $100US because my boss had to take a day trip down there. It cost over $160 at that time. I nearly puked.

vsjhoc · #6 (**permalink**) 11-01-2007, 11:34 AM

The superannuation (retirement) account I have in Australia is worth a whole lot more these days. But who knows what the US dollar will do over the next 10-20 years???

mariogreymist · #7 (**permalink**) 11-01-2007, 11:53 AM

I have strong and well-founded fears for the future of the US dollar. Debt load here is way too high and with manufacturing and other non-professional high-paying jobs leaving the US, we could face a significant level of failure among financial institutions. Americans are stupid on the whole, and the moment that starts, there will be a run on the banks, forcing the government to suspend financial markets. There could be a period of major financial chaos in those 10-20 years.

Jaun22 · #8 (**permalink**) 11-01-2007, 12:03 PM

I was planning a trip to europe for next summer but I am no rethinking the itinerary.

InDebtInDC · #9 (**permalink**) 11-01-2007, 12:04 PM

Quote:

Originally Posted by mariogreymist

I have strong and well-founded fears for the future of the US dollar. Debt load here is way too high and with manufacturing and other non-professional high-paying jobs leaving the US, we could face a significant level of failure among financial institutions. Americans are stupid on the whole, and the moment that starts, there will be a run on the banks, forcing the government to suspend financial markets. There could be a period of major financial chaos in those 10-20 years.

The good thing is legal jobs cannot be outsourced, yet. It's too technical and requires English fluency, but I'm starting to notice a little bit of outsourcing starting to pick up. It's only a matter of time before Americans will lose out in every industry.

disneysteve · #10 (**permalink**) 11-01-2007, 12:04 PM

No effect at all here.

InDebtInDC · #11 (**permalink**) 11-01-2007, 12:05 PM

Quote:

Originally Posted by disneysteve

No effect at all here.

That's because you're well diversified, right?

disneysteve · #12 (**permalink**) 11-01-2007, 12:13 PM

Quote:

Originally Posted by InDebtInDC

That's because you're well diversified, right?

Don't know. Never really gave it any thought. I don't really pay any attention to what the dollar is doing.

vsjhoc · #13 (**permalink**) 11-01-2007, 12:28 PM

Quote:

Originally Posted by InDebtInDC

The good thing is legal jobs cannot be outsourced, yet. It's too technical and requires English fluency, but I'm starting to notice a little bit of outsourcing starting to pick up. It's only a matter of time before Americans will lose out in every industry.

I read an article quite recently (ABA Journal? Washington Lawyer? Liar's Monthly?) that there is a growing market for outsourcing legal work to India. It seems to be paralegal work or cookie cutter stuff like leases ... scary.

InDebtInDC · #14 (**permalink**) 11-01-2007, 12:48 PM

Quote:

Originally Posted by vsjhoc

I read an article quite recently (ABA Journal? Washington Lawyer? Liar's Monthly?) that there is a growing market for outsourcing legal work to India. It seems to be paralegal work or cookie cutter stuff like leases ... scary.

I think lawyers get a bad rep because they push the limits of the law, and the average layperson doesn't understand the fine points of the underlying legal posturing.

For now paralegal work is being outsourced for sure. In the future, I forsee litigation being outsourced as well. It's just a matter of times. I've dealt with a lot of Indian lawyers lately, and they are not dumb.

disneysteve · #15 (**permalink**) 11-01-2007, 02:20 PM

Quote:

Originally Posted by InDebtInDC

For now paralegal work is being outsourced for sure.

Even medicine is seeing some outsourcing. Radiology services are already being outsourced. X-rays are taken digitally and it doesn't matter where they transmit the image. So a radiologist in Mumbai interprets the film and e-mails back the reading.

Aleta · #16 (**permalink**) 11-01-2007, 02:27 PM

Wow! That's pretty scary and of course the Doctor of Radiology bills his part while probably paying the radiologist reading it very little.

cptacek · #17 (**permalink**) 11-01-2007, 03:03 PM

I think the price of beef has gone up because exports are higher. I hope that continues until January (when I sell my calves!)

sweeps · #18 (**permalink**) 11-01-2007, 04:21 PM

It's a good time to sell on ebay right now if you open up your auctions to buyers outside the U.S.

terry1156 · #19 (**permalink**) 11-01-2007, 06:14 PM

I think it affects everyone a lot more than most of us realize. The reason that oil prices are so high isn't just because there is a shortage. A lot is because the dollar is plummeting. That affects food prices which hits everyone in the pocket book. Anything that is imported will see price increases soon if they haven't already.

gackle · #20 (**permalink**) 11-01-2007, 08:01 PM

I work the midnight shift and was seriously considering taking a pay cut to a salary that would be just enough for us to live off of so I could take a day job, but with the dollar falling and cost of oil constantly going up I think I'm going to stick with the financial security and crappy schedule.

I agree with a previous poster - I think our economy is really teetering on the brink of a terrible meltdown. The dollar is falling, oil prices are skyrocketing, the housing market is down, and there is a credit crunch. Companies recently have announced that they will not be meeting their projected earnings.