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Interesting reading. Most economists/political scientists study concentration of wealth, not earned income. Maybe professor dickhead can comment on the differences.
[URL]http://www.thestreet.com/story/12916499/10/23-countries-where-income-inequality-has-become-the-worst-ever.html[/URL]
Wealth inequality is a superior measure to income inequality, and if you [B]are[/B] going to look at income inequality, you need to look at [B]after tax[/B] income which they did not. Those Scandanavian countries have high tax rates, so if you look at after tax income, the inequality is much less. Income inequality is less pronounced always and everywhere, and is more volatile. However, if you read the study and not just the article about it, you can see the author of the article is a bit confused because there is very little in the study about income inequality and a whole bunch about wealth inequality.
I thought the best part of the study was Figure 2 on page six. Who would have thought that the ratio of wealth to income would have risen so nicely under a foreign born, communist, anarchist wealth distributing president completely devoid of leadership skills? Just look at the graphs, righties! Oh, and the US produced a [B]30.8% increase in millionaires in just the past year[/B] under the tender stewardship of the mulatto prince. How did that ever happen with his socialistic leanings and job stifling health care plan?
[URL]https://publications.credit-suisse.com/tasks/render/file/?fileID=60931FDE-A2D2-F568-B041B58C5EA591A4[/URL]
The original article. A swiss investment bank issues a warning hidden in the text that the uber high periods of concentration of wealth as compared to the average ratio tends to signal recession/depression. The invisible hand of the marketplace will cause a reversion to the mean or a crash.
Pig get fat and hogs get slaughtered.
For those who think he was the best President, think again.
[URL]http://www.examiner.com/article/8-reasons-why-ronald-reagan-was-the-worst-president-of-our-lifetime[/URL]
It's really funny when the lefties and righties cite their lefty and righty newspapers and TV shows as "proof.".
[QUOTE=Dickhead;442382]
I thought the best part of the study was Figure 2 on page six. Who would have thought that the ratio of wealth to income would have risen so nicely under a foreign born, communist, anarchist wealth distributing president completely devoid of leadership skills? Just look at the graphs, righties! Oh, and the US produced a [B]30.8% increase in millionaires in just the past year[/B] under the tender stewardship of the mulatto prince. How did that ever happen with his socialistic leanings and job stifling health care plan?[/QUOTE]You're being too harsh on Obama. Just as he wasn't responsible for strength in the stock market and the dollar, he's also not responsible for globalization and technology, which are the primary drivers of increasing inequality. That said, some of his policies have played a part. You've already brought up the effect of Obamacare on employment. There have been large increases in the number of people on social security disability during his administration. And a lower labor force participation rate. In other words Obama and Democrats have a bias towards dependency on government, instead of people working and saving and building wealth. Both parties have encouraged debt over equity with things like the mortgage interest deduction and encouraging people to buy more expensive houses than they can afford, and encouraging banks to loan them the money to do it.
It's great that the number of millionaires has increased 30.8%. A person needs about a million dollars for a comfortable retirement. Unfortunately that's probably a result of fluctuations in the stock market, and not repeatable over a number a years.
[QUOTE=Tiny12;44239] Both parties have encouraged debt over equity with things like the mortgage interest deduction and encouraging people to buy more expensive houses than they can afford, and encouraging banks to loan them the money to do it.[/QUOTE]You can add the non-deductibility of dividends to the encouragement of debt over equity. I think we all know deep down that presidential administrations get too much credit when things go right and too much blame when things go wrong. Now might be a good time to go back and review what I posted around the time of the last election about the economic results under Democratic vs. Republican presidential administration. Me, personally, I don't care about [I]policies[/I]; I only care about [I]results[/I].
The mortgage interest deduction does a bit more than simply encourage debt versus equity; it helps perpetuate the wealth gap.
Purely speculative on my part. I might not be around, then maybe I will.
Instant gratification, the American Way. The Pac-Man, aka the Money Man has arrived. Grabbing, swallowing everything in its path.
But here I sit in Bangkok, the air condition on up to 20 hours a day. What is the solution? Moving to a more breezy locale. Perhaps, escaping the hot season to Cape Town or Bariloche? I don't have any answers, but down the road, a lot of hurt & pain awaits.
[URL]http://www.nytimes.com/interactive/2014/11/23/us/north-dakota-oil-boom-downside.html?hp&action=click&pgtype=Homepage&module=second-column-region®ion=top-news&WT.nav=top-news&_r=0[/URL]
[QUOTE=Tiny12;442390] Both parties have encouraged debt over equity with things like the mortgage interest deduction and encouraging people to buy more expensive houses than they can afford, and encouraging banks to loan them the money to do it.[/QUOTE][URL]http://www.nytimes.com/2014/11/14/opinion/a-house-is-not-a-credit-card.html?_r=0[/URL]
I get your sentiments, but do you really believe the banks need encouragement? How did "instant gratification" come about? There were some evil geniuses at work there.
I check it out with the soapies in Bangkok, and they said they never heard of it. So no deals.
Here in my tiny nation-state we will be having Green Friday. Our nation-state is awash in tax dollars and running an enormous surplus after four years of a moderate Democratic regime, completely eliminating the deficit that arose under the two previous Republican governors. Obviously this is cause for celebration and our newest fledgling industry, recreational marijuana, is leading the way. Folks will be eschewing Kohl's and its ilk and instead lining up for $50 ounces, $2 "medibles," and similar delights that can be enjoyed by even the most impecunious.
Now what we need to do is establish something similar to the Alaska Permanent Fund, only based on weed and not oil and gas. Think about it: in Alaska they had the Exxon Valdez disaster. Suppose, instead, that the spill had been marijuana. The cleanup could have been handled entirely by volunteers. I was thinking we would have to build a big wall around the state but now that OR and (I forget which other state because I'm kind of baked) have joined up, maybe we won't get overrun.
I predict that very quickly, greed will kick in and our pols will eliminate the distinction between non-residents (can buy and possess .25 oz) vs resident (can buy and possess 1.0 oz). The amendment stated that marijuana should be regulated like alcohol and of course they banned advertising, selling weed related T-shirts, and all kinds of bullshit that goes way beyond how alcohol is regulated. But for sure they do not limit out of staters to a six pack of beer while allowing residents a case, so they have a built-in excuse.
The big unknown, of course, is whether highway fatalities will go up or down. I submit they will go down. It's just straight math. You drive twice as bad when you're stoned, but you're three times as likely not to bother to leave the house, so they should go down by one third. One issue, of course, is you need to wait two to three hours after your last beer or you will blow over the limit for alcohol, but you have to wait two or three weeks before you don't test positive for THC. I think there will be a lot of DWBs (driving while baked) and that will prove lucrative for municipalities, and will be a pain in the ass. I saw some dudes vaping in their car tonight and that is like three times as visually obvious even if it does stink up your car a lot less.
[URL]http://www.cnbc.com/id/102181913[/URL]#.
So now the rush to approve the passage of the pipeline goes into the gear as the GOP gains control of Congress. As in Obama rushing ObamaCare! Remember!
Oil prices is pissing down the urinal. And electric transportation are gaining footholds everywhere.
[QUOTE=RevBS;442962][URL]http://www.cnbc.com/id/102181913[/URL]#.
So now the rush to approve the passage of the pipeline goes into the gear as the GOP gains control of Congress. As in Obama rushing ObamaCare! Remember!
Oil prices is pissing down the urinal. And electric transportation are gaining footholds everywhere.[/QUOTE]A. They've been "studying" the Keystone Pipeline for more than 6 years. How nice it would have been if we had benefitted from such a gestation period to consider Obamacare, instead of the 24 hours we were actually given before the bill was rushed to the Senate and House floors.
B. You can't wait until you need energy infrastructure before you start building it, because by then it's too late. We need to start building these assets now so that they're in place and functioning the NEXT time we find ourselves in a position to really need them.
Of course, I'm sure that both of these arguments will be lost on our liberal friends and their LIV sycophants.
Thanks,
Jax.
[URL]http://www.latimes.com/business/hiltzik/la-fi-mh-is-the-oil-crash-about-to-snuff-out-the-texas-miracle-20141222-column.html[/URL]
Maybes yes, maybe no. We shall see.
Did not want to start a new thread, so I'll use the platform here and wish everybody a Merry X'mas & Happy New Year. A more jolly group I have yet to meet, full of good cheer & kind intentions. God bless America.
Rev bs.
I would like to wish all the members of this site even the ones that have been rude to me, a happy holidays and a very wonderful new year. I use this site often but I must admit after so many nasty replies to my posts I'm reluctant to post. Your right my spelling is bad and my grammer is bad but the point I'm trying to make is what matters. If I misspell something in my post try to skip over that and just think about the point I m trying to make. Not everyone will agree with my openion and they shouldent but lets just discus.
Regards Hotrod11.
Several years ago I met my congress man Tod Akins. He was traveling back to DC for a vote on the Schrenable incident. This girl had been declared brain dead by over 20 Florida judges but for some reason the house republicans wonted to shift this to federal jurisdiction. I asked mr Akins why he would travel back to DC and spend so much tax payers money on this unwinnable problem. He said look I am a junior represenative and if your boss -Tom DElay -- calls you and says get your ass on the next flight to DC. What would you do?
So why are so many people still angry & unhappy? Is it because most of the jobs that were lost in the Financial crisis are never coming back? It was going to happen anyway because of globalization & technology. The crisis just accelerate the time-line.
Immigrants are coming in the thousands every day. Their will to survive and improve their lives is stoking the fire in America's engine room. Meanwhile, the home-growns are mostly just failing math, smoking pot, playing video games, and watching porn.
Just my un-humbled opinion.
[URL]http://www.marketwatch.com/story/five-predictions-for-us-economy-in-2015-2014-12-31[/URL]
[URL]http://www.forbes.com/sites/alejandrochafuen/2015/01/01/the-u-s-economy-in-2015-challenges-and-opportunities/2/[/URL]
About the shooting in Paris. Those guys were really pushing the envelope. Not saying they were wrong, but just thinking that they were invincible. A friend of mine crossed the metal barrier to take a picture of a tiger, and got his trousers shredded by the tiger through the bars. I said, what were you thinking?
[URL]http://www.usatoday.com/story/news/2015/01/15/pope-islam-paris-charlo-hebdo/21796053/[/URL]
[QUOTE=RevBS;443400]About the shooting in Paris. Those guys were really pushing the envelope. Not saying they were wrong, but just thinking that they were invincible. A friend of mine crossed the metal barrier to take a picture of a tiger, and got his trousers shredded by the tiger through the bars. I said, what were you thinking?
[URL]http://www.usatoday.com/story/news/2015/01/15/pope-islam-paris-charlo-hebdo/21796053/[/URL][/QUOTE]Wrong thread. How is this economics?
So the EU is getting hammered from multiple orifices today and yesterday and lets be honest, for quite some time. Since it became a protectorate of Germany and a vassal of the US. No independent foreign policy to speak of.
The Euro is down 1:1. 16 tu the USD and down to 1:1. 0 to the CHF. Overnight. Anybody want to comment on the Rouble? .:)...
Russia just told the eu commissioner for " energy union " to pound sand. These pods actually went to Moscow and demanded the following.
1. They wanted Russia to continue subsidizing Ukrainian gas imports for the forseeable future. LOL. This one made me laugh.
2. They wanted all future energy purchases from Russia to happen through the new Eu " energy union ".
3. They wanted Russia to restart the Southstream pipeline project (after the US and the EU did everything to stop it), they wanted Russia to build the infrastructure in Europe to deliver the gas and then they wanted Russia to adhere to the new " third energy package " retroactively even though all the previous Southstream agreements were signed and negotiated way before this third "energy package " was even a twinkle in Frau Merkels eye. BTW this third energy package states that even though Gazprom has to build and service these pipelines, they only get to profit from 50% of its capacity.
Ahahahahahahaha. What are these eurotard muppets smoking over there? Seriously. They actually thought they had leverage or something?
Russia told them.
1. There is no need to extend these one off winter sudsidies to Ukraine since there are already preexisting contracts that encompass future gas prices. And if the EU wants to insure transit through Ukraine they have to pressure Ukraine to uphold current agreements. And if the Kiev neonazis need gas they can't pay for, therefore endangering gas supplies to the EU, its not Russias problem. Oh and yeah since Ukraine is broke, the EU will probably have to pay off Ukraines past energy debts and most likely its future ones as well.
2. The Southstream project is Dead. Long live the southstream project. Russias decision is final. The Eurocrats didn't want it and so they won't get it. Russia will build the pipeline to Turkey and from Turkey to the Greek border ending in a energy distribution hub just before entering eu territory. If the EU wants Russian gas, they have to build their own pipeline infrastructure to connect with this hub and then they can adhere to this " third energy package " all they want. It will be their pipelines on their soil. Ahahahaha. Check and mate.
3. here's the real kicker. Once the " turk stream " pipeline is built, Russia will stop all gas transit through Ukraine. All of it. They will service Ukrainian demand for gas as long as the Ukrainians pay for it in advance. All future purchases of Russian gas must be done through the turk stream or not at all (this excludes preexisting Nordstream and Belarusian pipelines that service most of the north and central parts of europe and account for about 50% of all Russian gas sold to the eu).
Anyone with half a brain saw this coming. You mess with the bull you get the horns. What is little eu going to do? Germany connivingly secured their own gas imports through the Nordstream and then did everything it could to destroy the Southstream project. So much for E unity? I'm betting the central and southern european countries are going to love this.
Put a fork in her fellas. I think the EU is done. Don't forget to hedge accordingly.
[URL]http://www.nytimes.com/2015/01/25/opinion/sunday/what-happened-to-the-price-of-oil.html[/URL]
A nice read on the current oil industry for us ordinary folks. It is a link, so I will await comments from our experts in AP who has far more reliable sources than the NY Times.
Meanwhile, nothing like a long driving vacation in the late spring or early summer in the good ole USA. Any suggestions of great 10-14 day drives, especially in the East and South? Pretty much covered the West & Rockies.
[URL]http://www.latimes.com/business/la-fi-gop-financial-reform-attack-20150114-story.html[/URL]
Now that they are a majority in Congress, the GOP is trying to dismantle the Dodd-Frank Law. As if the Financial crisis never happen, these crooks are doing their masters' bidding again. Shameless, unrepentant. Never guilty, that is the signature of American culture today.
It is funny when the Democrats got 20 million more votes and still lose.
Would that be because of Gerrymandering?
[QUOTE=BadMan;443442] Anybody want to comment on the Rouble? .:)[/QUOTE]Sure, I'll take a stab at it: continued devaluation vs both the dollar and the Euro through the end of the year.
[QUOTE=BadMan;443442] Russia just told the eu commissioner for " energy union " to pound sand. [/QUOTE]Trust me when I tell you, not one EU commissioner lost a second of sleep.
Russia, despite all of it's sabre rattling, is still one very fucked-up country. Anybody with means and opportunity tries to emigrate at their first chance.
The plan that you laid out so eloquently looks good on paper, but Russia is a totally fucked military dictatorship. [I]IF[/I] Russia manages to build a pipeline all the way down to Greece without multiple major catastrophes along the way, it won't be during our lifetime. And, of course, it won't be Russians building the pipeline as the average Russian can't build shit. It'll be the same Uzbekistani slaves used to build the newly finished Moscow City Center, but that's another story.
Trust me, Merkel's got the goods on Putin. She sees him for what he is, a sadistic punk with a short-mans complex. The European Union has it's share of problems, no doubt. But they pale in comparison with the multiple crisis Putin is trying to manage at the moment at home. In time you'll find Russia's "horns" aren't that sharp. Can't wait for my summer trip, when the Ruble should right around 80 to the Dollar.
Russia is fucked for life. They've always [I]been[/I] fucked, and they always [I]will[/I] be.
Don't ever quote me again. These are 60 seconds of my life I will never get back.
[QUOTE=Chezz;443689]Sure, I'll take a stab at it: continued devaluation vs both the dollar and the Euro through the end of the year.
Trust me when I tell you, not one EU commissioner lost a second of sleep.
Russia, despite all of it's sabre rattling, is still one very fucked-up country. Anybody with means and opportunity tries to emigrate at their first chance.
The plan that you laid out so eloquently looks good on paper, but Russia is a totally fucked military dictatorship. [I]IF[/I] Russia manages to build a pipeline all the way down to Greece without multiple major catastrophes along the way, it won't be during our lifetime. And, of course, it won't be Russians building the pipeline as the average Russian can't build shit. It'll be the same Uzbekistani slaves used to build the newly finished Moscow City Center, but that's another story.
Trust me, Merkel's got the goods on Putin. She sees him for what he is, a sadistic punk with a short-mans complex. The European Union has it's share of problems, no doubt. But they pale in comparison with the multiple crisis Putin is trying to manage at the moment at home. In time you'll find Russia's "horns" aren't that sharp. Can't wait for my summer trip, when the Ruble should right around 80 to the Dollar.
Russia is fucked for life. They've always [I]been[/I] fucked, and they always [I]will[/I] be.[/QUOTE]
Then don't ask for opinions on a public forum.
The Russian Ruble will continue to loose value, as it did today and as it did yesterday, until such time as the price of oil stabilizes. I liked what you wrote. But every time Russia gains a bit of political momentum, and their economy starts to rebound, they find a way to screw it up. I lived there long enough to know this.
[QUOTE=BadMan;443725]Don't ever quote me again. These are 60 seconds of my life I will never get back.[/QUOTE]
There are too many holes in your off topic reply to even try to begin to correct. Also your rant had nothing to do with the thread title. It just seemed like you were venting about your hate for Russians.
Ill be happy to discuss the actual facts of the south stream and turk stream projects, their geopolitical implications for Europe Eurasia Nato the GCC etc. That, energy politics, and the ongoing currency wars are the most important political topics of this decade.
Non factual subjective emotional rants aren't exactly what I had in mind.
Maybe I should have qualified my statement by saying a " factual knowledge based " opinion or argument.
[QUOTE=BadMan;443739]There are too many holes in your off topic reply to even try to begin to correct. Also your rant had nothing to do with the thread title. It just seemed like you were venting about your hate for Russians.
Ill be happy to discuss the actual facts of the south stream and turk stream projects, their geopolitical implications for Europe Eurasia Nato the GCC etc. That, energy politics, and the ongoing currency wars are the most important political topics of this decade.
Non factual subjective emotional rants aren't exactly what I had in mind.
Maybe I should have qualified my statement by saying a " factual knowledge based " opinion or argument.[/QUOTE]With all due respect, in your post you asked people to comment on where they thought the ruble was going, which I did. I won't get into a discussion about whether or not I was off-topic or if I posted in the right or wrong place, as that's just silly. This is the chit-chat section of a mongers message board, and I try not to take what gets posted here too seriously. I gave you my opinion, and that was it. Don't read too much into it -- it's just one man's opinion.
I certainly don't hate Russia. I AM Russian and my history and opinions regarding Russia are way too complicated and personal to post here (other than the sweeping generalizations I made below). Hate is too broad of a statement in any case. I loved (most) of the people I met during the course of my 30 trips there. And though I appreciate your offer to engage in what I'm sure would be a lively discussion of the "south stream and turk stream projects, their geopolitical implications for Europe Eurasia Nato the GCC etc. ", I'm on vacation in this beautifully fucked up city, and I have about a million things I'd rather do. You obviously know your shit, and I respect you for that. But engaging with you on an academic level would take way too much time / energy. And that's a dig on me, as I was the one who quoted a two week old post. I'd rather just let it go. Peace!
First of all. This thread is USA & world economics. So that is what I'm trying to discuss. Second of all the rouble comment was rather tongue-in-cheek. I didn't expect anyone to bite. I'd discuss it but it would take a much longer post. And if you're Russian you must be fifth column or a navalny acolyte. Because very few people in Russia dislike Putin. The more those nato eurocrats attack him, the more his electorate supports him.
You can say what you want about the guy but the numbers speak for themselves. I'm talking economic facts here not biased personal opinions.
[URL]http://www.forbes.com/sites/markadomanis/2012/07/26/russias-economic-growth-in-comparison-with-the-g7/[/URL]
Okay. Now I'm. Just trolling.
[URL]http://www.bangkokpost.com/business/news/472233/household-debt-keeps-thailand-southeast-asia-sick-man[/URL]
The corporate virus has been spreading for quite a few decades now, and the tipping point has arrived in Thailand. More malls are sprouting along Sukhumvit Road and elsewhere. Some call it progress & development, but is it really? Escalators & air-conditioning are nice, so are better toilet facilities. Other than that, who needs all the junk in the stores. Dehumanization & popular culture are its main features. And then there is the illusion that life is better just because you are on Facebook and have a Coach bag.
[QUOTE=RevBS;443928][URL]http://www.bangkokpost.com/business/news/472233/household-debt-keeps-thailand-southeast-asia-sick-man[/URL]
The corporate virus has been spreading for quite a few decades now, and the tipping point has arrived in Thailand. More malls are sprouting along Sukhumvit Road and elsewhere. Some call it progress & development, but is it really? Escalators & air-conditioning are nice, so are better toilet facilities. Other than that, who needs all the junk in the stores. Dehumanization & popular culture are its main features. And then there is the illusion that life is better just because you are on Facebook and have a Coach bag.[/QUOTE]I yearn for the days of lawyers, guns and money. Now its banks and real estate developers. And of course bent politicians. They never go out of style.
[URL]http://www2.bangkokpost.com/news/general/485622/nemtsov-murder-theories-abound[/URL]
What a joke! Great abestos salesman.
Anwar Ibrahim, Malaysian opposition party leader, convicted on sodomy charges had his appeal denied by the Supreme Court and sentenced to 5 years prison. Already 67 years old, it kind of put him onto pasture. And the list goes on with ruling governments running over opposition parties & leaders.
But top of the list is the thug, Vladimir Putin. Within some AP circles, he is admired for his strongman antics as he is portray as wagging Obama's tail. Nothing could be further from the truth. Some Russians are having to eat borscht now with no cabbage. And Pattaya's economy is suffering heart palpitations from the absence of Russians overnight, rudely interrupted by Obama's sleight of hand.
Yes, the trash talks continues about Obama's foreign policy. Muslims killing Christians! Read some real history, man. That Foxy propaganda, sensationalized for ratings, nothing else.
[URL]http://trove.com/a/Decades-of-human-waste-have-made-Mount-Everest-a-%E2%80%98fecal-time-bomb%E2%80%99.oLG17?chid=187014&_p=full-channel-head%5B1%5D[/URL]
Humanity given enough time will ultimately destroy their environment & themselves. Why so? Because of the inability to understand the "Greater Good" concept. So now Mt Everest is a cesspool. But who cares.
[URL]http://www.slate.com/blogs/moneybox/2015/03/11/the_falling_euro_sure_it_s_great_for_europe_but_what_about_the_u_s.html[/URL]
2015, The Year of the American Traveler.
If you are not collecting welfare, then you are in luck with seeing the world, particularly Europe. Never has the Euro been this low since it was introduced in 1999. Whilst it is still not quite the Vietnamese Dong yet, you should take advantage of this crisis to see Europe. Avoid the trendy cities like Rome or Paris and expensive countries like Switzerland and Scandinavia, and you will have the time of your life. Go to Latvia, Estonia or Serbia and Albania. Or even Turkey for getting the most value out of your dollar.
But why should I go to these countries, I might as well as go to Detroit!! Because it will open your eyes, and improve your perspective. And because it is 2015, not 1927. You got that?
Never have I seen international airfares with so much value. And the European budget airlines have fares that seem cheaper than buses. Americans travel extensively, but going to places like Cabo San Lucas and the Bahamas, and you end up more stupid than before you went. And pretending to be high rollers playing golf in Hawaii and and the Caribbean only put Americans into more credit indebtedness.
Anyway, just enjoy, you will never have it so good for the rest of your life.
[URL]http://www.slate.com/blogs/moneybox/2015/03/13/the_states_where_second_marriages_are_most_common_we_ve_mapped_them_f[/URL]
Or the Bible Belt as it is also known. Now I am not going to claim I know anything about the South. Other than a couple of visits fo Texas, Louisiana and Florida.
Much more slow drawn, friendlier, poorer. Bar-be-Q, NASCAR, Confederate flags. Stereotyping here.
You would think family would be supremely important?
[QUOTE=RevBS;444248]...Americans travel extensively, but going to places like Cabo San Lucas and the Bahamas, and you end up more stupid than before you went. And pretending to be high rollers playing golf in Hawaii and and the Caribbean only put Americans into more credit indebtedness.[/QUOTE]Yet another back-handed racist slap by Rev BS against white American men as he once again gleefully decries the what he believes is their inevitable extinction.
Rev, I'm going to start calling you out on this racist hate-speech every time I see it.
Enough is enough.
Thanks,
Jax.
[QUOTE=RevBS;444248][URL]http://www.slate.com/blogs/moneybox/2015/03/11/the_falling_euro_sure_it_s_great_for_europe_but_what_about_the_u_s.html[/URL]
Never has the Euro been this low since it was introduced in 1999. [/QUOTE]Bzzt. Wrong. Completely incorrect. The low was about 83 cents. I was there at the time. It was awesome. I know you are not big on facts, but that statement was particularly dumb.
[URL]http://www.oanda.com/currency/historical-rates/[/URL]
[QUOTE=RevBS;444248][URL]http://www.slate.com/blogs/moneybox/2015/03/11/the_falling_euro_sure_it_s_great_for_europe_but_what_about_the_u_s.html[/URL]
2015, The Year of the American Traveler.
If you are not collecting welfare, then you are in luck with seeing the world, particularly Europe. Never has the Euro been this low since it was introduced in 1999. Whilst it is still not quite the Vietnamese Dong yet, you should take advantage of this crisis to see Europe. Avoid the trendy cities like Rome or Paris and expensive countries like Switzerland and Scandinavia, and you will have the time of your life. Go to Latvia, Estonia or Serbia and Albania. Or even Turkey for getting the most value out of your dollar.
But why should I go to these countries, I might as well as go to Detroit!! Because it will open your eyes, and improve your perspective. And because it is 2015, not 1927. You got that?
Never have I seen international airfares with so much value. And the European budget airlines have fares that seem cheaper than buses. Americans travel extensively, but going to places like Cabo San Lucas and the Bahamas, and you end up more stupid than before you went. And pretending to be high rollers playing golf in Hawaii and and the Caribbean only put Americans into more credit indebtedness.
Anyway, just enjoy, you will never have it so good for the rest of your life.[/QUOTE]Well, uh, there's a reason flying to the next Ukraine is cheap.
Personally I'd wait until Greece leaves or is kicked out of the Euro monetary union. The new drachma is likely going to be much cheaper than the Euro, if it is still standing. And Greece has got better weather, beaches, historical monuments and food!