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  • US Currency Devaluation
    02/20/2006 1:07PM
    An article on the problems associated with the large trade deficit:

    "Miami economist Manuel Lasaga, who burnished his University of Pennsylvania doctorate in economics with a stint at Citibank renegotiating the Latin-American debt in the 1980s, shares few characteristics with Chicken Little, who always warned that the sky was falling.

    Still, the 53-year-old economist correctly sounded the alarm over the need to devalue the overvalued Argentina peso back in the 1990s, when such talk was dismissed by the Argentine government, which later faced financial and economic implosion."

    You can read the full article at the Miami Herald.

  • Comment By:
    02/23/2006 10:24PM
    <p><font size="2"><font face="verdana,arial,helvetica,sans-serif">I worry about this a lot, because most of our income is still in US dollars, but has to be converted to Canadian dollars eventually.&nbsp; The current exchange rate is about 87 cents to the CAD.&nbsp; A few years ago it was 62 cents.&nbsp; If the exchange rate continues to go down for the USD, I'd be better off just getting a regular job here and letting Tanya carry on with the consulting work.&nbsp; The Canadian economy seems to be doing very well.<br />Too bad Americans feel the need to live their lives in debt and save so little.&nbsp; If the average person would stop spending so much and not take out such huge mortgages, the US could sustain this for much longer.&nbsp; Pack away for a rainy day, boys and girls!<br /></font></font></p>
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