O Europa, et etiam tue dinarii?

I have been seriously considering opening an account in the Euro currency. Here's why:
Greenspan Warns of weakening Green-back demand.
House, Senate, vote to raise US federal debt ceiling.
Dollar drops to record low against the Euro.
US economy is sluggish.
Investors fear decline in dollar will turn into a rout.

I'm not an economist, but these indicators don't bode well for the strength of the green back. Are there any economists out there who can help me piece together what all of this means?

And should I be opening up an EverBank account in Euros, too?

5 Comments:

At 11/19/04, 10:38 AM, Blogger Les said...

I'm not an economist, but as soon as the euro came out, I was thinking "I should invest my savings in a euro account because europe is econimcally stronger than the US." I never got around to it, but man, it would have been a good idea. As soon as other countries start using euros as their reserve currency, the dollar is done.

 
At 11/19/04, 2:18 PM, Anonymous Anonymous said...

The US is well on it's way to becoming vacation land for lawyers in love.

What's his name on Ring of Fire says that part of the reason that the US couldn't get it's so called coalition wasn't just ideological differences, but also simply we aren't the powerhouse we once were, not a real interest in joining us (we will need to join them kind of thing...) So this all fits.
George (not W my 70 something friend) thinks Europe is the next superpower, not China as many believe. I mean look it's Europe who is negotiating (albiet badly) with Iran...it's currency is stronger. I see his point.

-Carol

 
At 11/19/04, 5:28 PM, Blogger Crinis said...

This article, which I didn't post on the main entry for some reason, is called The New Old Cold War, over at Salon. It's absolutely intriguing (if a bit fluffy at times). I couldn't help but note the article's reasons for the failure of the US to establish a UN mandate - we don't go the Mo on the Security Council anymore.

 
At 11/19/04, 11:41 PM, Blogger Marek said...

Well, I think we have good reason to be concerned about our country's outlook, especially with the jokers we (still) have running things. But if you like Europe's prospects, I'd stick to buying shares of European businesses instead of Euros.

More here.

 
At 11/30/04, 9:31 PM, Blogger cxjo said...

hell, even the yen is looking sexy:
http://story.news.yahoo.com/news?tmpl=story&ncid=749&e=1&u=/nm/20041201/bs_nm/markets_forex_dc

 

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