Job Discussion Forums

[dynow]

Those of you (us) with bank accounts in dollars in America, are you glad you're earning a rising currency these days, or pi$$ed off your bank account is slowly dwindling to nothing???

[scottie1113]

Since I don't have any accounts in the US and am paid in zl, it hasn't affected me, although it will in a couple of years when I start receiving a small pension in dollars. Oh well.

[maniak]

I asked a wall street friend what I should with all of $ when I moved here a year ago...

I emptied my accounts, dumped my IRA and paid the penalty, and exchanged every penny except for a few dollars to pay off my student loans. Also told me to invest in gold but I though that was a little too tin-foil for me... dammit.

2.24zl - 1 dollar

[BeatRippa]

I'm currently saving in dollars since I plan to move over there this summer. It's beginning to feel depressing as it feels like I'm working/saving for almost nothing. haha Do you guys think the exchange rate will go back up once Bush is out?

[scottie1113]

Nope, not for quite a while. The US economy is in a ression, the Fed just cut interest rates again so overseas money isn't flowing into US bonds, etc.

[phantombedwetter]

No.. not the "R" word.

Will it spread to Poland?
Will we all be out of a job?

After all, who wants English lessons if they can't afford to eat?

I'll have to put my wife on the game, .....again.

Perhaps we could start a whole new English for Specific Purposes (ESP) topic... English for sex workers.

ESP for recession survival

[Big_Cannon]

Last summer my girl and I felt the exchange pinch buying euros from dirhams, and again, felt another hiccup exchanging euros for zlotys.
Dogged by the newspapers and Bloomberg, I can only imagine that this is the way "We The People" hold of the cards in the global market.
US policy- let the dollar sink, cut interest so the American people can borrow more, spend more and buy domestic instead of foreign (European and Chinese products)
EU policy- with a strong euro exports suffer, oil comes cheaper and the profit goes back to Exxon (US) and the Gulf.
Gulf policy- with their currency pegged to the $ they will continue cutting the oil output so the price goes up and consequently they can make up for their losses on a weak dollar.
In Poland, you're all going to face the insufferable gravitas when you sign in the eurozone.


In short while the US and China battle for trade hegemony, Europe is caught in the middle. Banks will continue to struggle in a world of numbers without actual purchasing power, in a downward spiral because of mortgaging more and more leverage. So the losers will always be the highlighted currencies and the winners, of course, will be the oil companies. Get a hold of Exxon shares for instance! What a mo'fu!

[Richfilth]

[Big_Cannon]

[Richfilth]

Oil is not the be-all and end-all of the economy; a strong Euro will not be a problem for members within the Eurozone at all, as it is not so dependant on foreign imports (the whole idea of the eurozone is to ease trade with its member states, not from outside.)

Therefore, in a world where the Euro has more spending power against the crumbling dollar, in real terms the prices are dropping. Countries cant hike their dollar prices without causing massive inflation in their own economies so, as long as the banks here don't collapse, it's a win for Europe and a massive fail for the US.

[dynow]