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Feeling the $ Pinch?
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dmb



Joined: 12 Feb 2003
Posts: 8397

PostPosted: Tue Jan 06, 2004 5:38 pm    Post subject: Reply with quote

The weak $ is one of the reasons I'll be leaving at the end of my contract. I'll be going somewhere witha stronger currency. Turkey!!! When the Lira is strong against the dollar you know something is bad
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abudhabi



Joined: 02 Jul 2003
Posts: 34

PostPosted: Mon Jan 12, 2004 2:57 pm    Post subject: The Aussie dollar - not so bad as you may think Mark Reply with quote

Mark 100 was saying that his salary has decreased by 50% due to the depreciation of the US dollar, but in fact it hasn't if you do the figures. Confused The Aussie dollar was worth about 2 Saudi riyals in 2001 and now it is worth 2.91 SR. If you had a salary of 12000 SR in 2001 you could get AUS $6000. That same salary of 12000 SR is worth AUS $4120 today - which is a decrease of about a third, not a half.

But not to be too unsympathetic Mark, I share your pain! It has put back my plans to pay off my mortgage for several months. I'd love the US dollar to rise - but I can remember getting US $1.07 for one Aussie dollar way back in 1979 - so the Aussie dollar could go much higher yet!

To answer Cleopatra's question - I'm not planning to quit the ME because of the currency slide. Rather the opposite - have to stay longer to achieve my financial goals. Crying or Very sad
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Cleopatra



Joined: 28 Jun 2003
Posts: 3657
Location: Tuamago Archipelago

PostPosted: Fri Jan 16, 2004 5:21 pm    Post subject: Reply with quote

Good news for Gulfies (!)

The $ appears to be making a modest recovery (though who knows for how long) after the head of the European Bank muttered something about how the strong euro might be a problem.

Amazing what a few words can do, when said by the "right" person!
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basiltherat



Joined: 04 Oct 2003
Posts: 952

PostPosted: Fri Jan 16, 2004 6:01 pm    Post subject: Reply with quote

yes, cleo ,rumours abound in the int currency trading pits but a good friend (a senior dealer in ny) there tells me the rebound might not last for long (us trying to screw over france and germany economies, ive heard, but naturally others get caught in the firing line) and we could be looking at circa 1.95 to uk pound late in the year. just a little inside stuff to contemplate.
rgrds
basil
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scot47



Joined: 10 Jan 2003
Posts: 15329

PostPosted: Sat Jan 17, 2004 2:23 pm    Post subject: 1.95 ? Reply with quote

If the pound sterling ever reaches one dollar and ninety five cents I shall not only eat my collection of hats but do it on my webcam !

And I speak as one who was alive when the dollar was 4.80 to the pound !
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Cleopatra



Joined: 28 Jun 2003
Posts: 3657
Location: Tuamago Archipelago

PostPosted: Sat Jan 17, 2004 6:33 pm    Post subject: Reply with quote

Nah, don't buy that one about Bush wanting to get "revenge" on France or Germany for opposing his illegal oil-grab. That would involve too much thought for him.

Besides, a weak dollar and strong euro also damages the economy of those wonderful por-war buddies, Italy and Spain. Not to mention Britain, with its strong pound. Not that Dubya cares, however, Tony will follow his leader no matter what...
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scot47



Joined: 10 Jan 2003
Posts: 15329

PostPosted: Wed Jan 21, 2004 10:55 am    Post subject: the falling greenback Reply with quote

Well the continuing fall of the greenback is making me think long and hard about being here in Saudi Arabia.

Maybe in June 2004 ? Or should I do just "one more year" ?
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veiledsentiments



Joined: 20 Feb 2003
Posts: 17630
Location: USA

PostPosted: Wed Jan 21, 2004 5:04 pm    Post subject: Reply with quote

Sure Scot --- one more year will be the answer to all problems--- Smile

Cleo,

As the who benefits and is hurt by the falling dollar. You are right that it isn't about harming France and Germany (not to mention the others). Certainly it is a side effect that gives them joy. What matters is who benefits. The answer to that is big US/international business Republicans who feed his re-election coffers.

This just helps to expand his other help to big supporters - the war in Iraq - which is mostly about tranferring taxpayer money into the pockets of other supporters and family. Think Haliburton, Bechtel, and good old GM that gets to replace all those Humvees blown up daily - life is good in the military-industrial complex.

VS
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basiltherat



Joined: 04 Oct 2003
Posts: 952

PostPosted: Wed Jan 21, 2004 5:33 pm    Post subject: Reply with quote

Quote:
You are right ...


''I agree with you ...''

is more appropriate, i think.

I'm having trouble explaining to my trainees the difference between a fact and an opinion, too.
i think its a very good point too, though
rgrds
basil
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johnslat



Joined: 21 Jan 2003
Posts: 13859
Location: Santa Fe, New Mexico, USA

PostPosted: Wed Jan 21, 2004 6:03 pm    Post subject: Just the facts, ma'am Reply with quote

Dear basiltherat,
Ah, but anyone who agrees with veiled sentiments or me HAS TO be right.
And, in my opinion, that's a fact.
Regards,
John
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basiltherat



Joined: 04 Oct 2003
Posts: 952

PostPosted: Wed Jan 21, 2004 6:09 pm    Post subject: Reply with quote

John
seeing as you and VS are in the USA, the benefit of the doubt goes to you, i guess. Wink
cu. take care
basil
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veiledsentiments



Joined: 20 Feb 2003
Posts: 17630
Location: USA

PostPosted: Thu Jan 22, 2004 5:06 am    Post subject: Reply with quote

Appropriate? (And I thought that it was all about communicative competence.)

Doesn't your agreement make it a fact? Smile

-- tis a reflection of the conversational level of these boards, but you are right (and that is my opinion and I'm sticking to it!!)

VS
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scot47



Joined: 10 Jan 2003
Posts: 15329

PostPosted: Thu Jan 22, 2004 5:29 am    Post subject: irony ! Reply with quote

vs

I was mocking myself and others when I said "one more year".

Like the alkie who kids himself that he can stop anytime, the ME junkie has difficulty in accepting reality. Denial is a way of coping !

Anyway June 2004 I am out of here.
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Cleopatra



Joined: 28 Jun 2003
Posts: 3657
Location: Tuamago Archipelago

PostPosted: Thu Jan 22, 2004 9:36 am    Post subject: Reply with quote

Looks like I spoke too soon - the $ is one the slide again, but still not as low as it was 2 weeks ago,

Love that "ME Junkie" phrase,Scot! Tomorrow is always one day away!
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johnslat



Joined: 21 Jan 2003
Posts: 13859
Location: Santa Fe, New Mexico, USA

PostPosted: Thu Jan 22, 2004 1:34 pm    Post subject: Denial flows through the Middle East Reply with quote

Dear scot47,

"Denial is a way of coping ! "

Not to mention a way of fitting in nicely. Sure, there's denial all over the globe, but in my opinion, the Middle East is gold-medal class.
Regards,
John
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