Korean Job Discussion Forums

[PBRstreetgang21]

Who wants to guess where the won to the dollar is gonna trade at by the end of the year?

Let me be somewhat pessimistic and say: 1500 won to the dollar


If the winner is a non-american you get a chocolate chip macadamia nut cookie, if the winner is American you get just chocolate chip because by that time Uncle Sam will be so broke we'll have sold Hawaii to the Japanese and macadamia nuts will have caviar status.

[Bigfeet]

The won is tanking because its exports depend so much on the US.

[wanamin]

If I knew the answer I wouldn't be in Korea... I'd be sitting on a beach in Hawaii, eating caviar, foie gras and macadamia nuts.

Anyone who gives you an answer is FOS, nobody knows for sure.

[ttompatz]

Heck, even the pros on wall street can't tell where the greenback is headed... much less compare it to another currency (or vice versa) 3 or 4 months into the future.

Add to that the uncertainty of the dollar denominated Korean loans AND investments and you add more twists to the roller coaster.

Personally, I don't see it getting much worse than the 2002 level (1250 won = US$1) any time soon.

The good news for the Americans working in Korea is that even at 1250/1 the income you get here is still better than the record unemployment and minimum wage jobs you can expect for new graduates in the states over the next year or 2. (better read up on the effects of the great depression cause Uncle Sam is headed for one).

Here, at least, you'll still have a roof over your head, pocket money for your weekends out, vacations on a southern beach and money left over to pay off those massive student loans.

(184 days till I head for the beach on a permanent basis).

.

[kingplaya4]

That's nothing to be reassured about. If America gets even remotely close to a Great Depression, let's say even 15% unemployment which would be far below the 1930's, most teachers here would lose their jobs. I know Korea has an English craze, but if average people can hardly afford their groceries, attitudes towards it's importance will surely change.

[Bibbitybop]

[RJjr]

I'm wondering how safe it would even be for foreigners if the Korean economy got really bad. I don't mean 1997 crisis bad, but a major depression bad. I'm guessing that teachers in already poor agricultural villages would probably be okay, but I would hate to be in a major city.

Not that it would be much safer in America. I'm currently in Tennessee and I picked up some corn, okra, pumpkin, and bean seeds half price this morning. This weekend, I'm going to a gun show and will hopefully find the AK-47 of my dreams to protect the farm, since I really don't consider my .22 guns "depression quality."