Opt For Euros If You Can
November 20, 2007
This goes for all you freelancers, importers, entrepreneurs or anyone that can get paid in Euros. Get them while you can. With the dollar sinking, it seems that most consumers are opting in exchange for the higher currency. Is this a game the US government is playing with the import/export industry or the corporate outsourcing problem? Are we now realizing our place in the global economy?
The United States is the largest importer of oversea goods. We’re also buying these goods at a heavier price. Inflation is absolutely no joke. The dollar is down 50% compared to the Euro from October 2005.
The respective currency for India and China are at an all time low. This means that workers who have the benefit of choosing and holding different currencies, and let’s face it, all the black market exchangers are opting for non-US currency. Indians are actually using the Rupee and the Chinese are actually using the Yaun.
It’s either hang on and wait for the foreign investors, wait for interest rates to rise and fall, save and hang on or ride the Euro bandwagon.
