tag:blogger.com,1999:blog-3857295146936801558.post2006596616897123008..comments2023-08-20T03:41:29.322-04:00Comments on From Beirut to Jupiter: It's the economy, stupidCathiehttp://www.blogger.com/profile/07291479913130967235noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3857295146936801558.post-63834791378928530442007-09-20T17:58:00.000-04:002007-09-20T17:58:00.000-04:00I was going to mention this yesterday, but I figur...I was going to mention this yesterday, but I figured my comment was already too long. <br><br>What's going on is the collision of tight oil supplies, our insane levels of debt, and the mortgage crisis. And yesterday's rate cut was a signal that the money printing presses are being set to "turbo."<br><br>That's why the <a href="http://money.cnn.com/2007/09/20/markets/dollar_euro.ap/index.htm" rel="nofollow">euro broke the $1.40</a> barrier today. That's why <a href="http://money.cnn.com/2007/09/20/markets/canada_dollar.ap/index.htm" rel="nofollow">the loonie is equal to the dollar</a> for the first time in over 30 years. That's why articles like this are appearing:<br><br><a href="http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/09/19/bcnsaudi119.xml" rel="nofollow">Fears of dollar collapse as Saudis take fright</a><br><br>This has been building for awhile. It used to be $1.50 to a pound sterling, now it's $2. A friend of mine inherited a lot of money and retired to England a couple of years ago. I warned her to put some of her funds into pounds, because the dollar was tanking. She didn't. Now she has to move back to the States, because her money is running out too fast in England.<br><br>I wouldn't put it all into euros, because the euro printing presses are cranking, too. But you might want to diversify. Convert some of your dollars to other currencies as soon as you can. You'll have to do that anyway, right?BubbaFanhttp://www.blogger.com/profile/12416316223741178799noreply@blogger.com