Oh Great! Euro hits $1.51
Apr 22nd, 2008, 07:50 AM
#65
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Our family is fortunate that we don't have a student studying abroad now! It was expensive enough at 1.30 to the Euro. Our son could go this coming Fall, but he's decided not to. Good thing, I guess.
As I said on my other post, we plan on spending our money in the USA for the near term.
It's really getting scary, our economic downturn. The only good news is if you're looking to buy real estate, you can get amazing deals now
>-
As I said on my other post, we plan on spending our money in the USA for the near term.
It's really getting scary, our economic downturn. The only good news is if you're looking to buy real estate, you can get amazing deals now
>-
Apr 22nd, 2008, 09:27 AM
#66
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>Getting cash ahead of time isn't looking so crazy now, is it?
It never looked crazy, but unfortunately people have a tendency to ignore todays bad news and hope for better news tomorrow. Ever noticed that when a stock constantly drops in worth, people won't sell, because they always hope for a rebound the next day? The rebound doesn't ever come still they won't sell unless everything is lost.
People are that way...
It never looked crazy, but unfortunately people have a tendency to ignore todays bad news and hope for better news tomorrow. Ever noticed that when a stock constantly drops in worth, people won't sell, because they always hope for a rebound the next day? The rebound doesn't ever come still they won't sell unless everything is lost.
People are that way...
Apr 22nd, 2008, 09:42 AM
#67
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this thread is soooo interesting. We are a family of 5 (3 small kids: 8yr, 5yr and 1yr) leaving for UK and Italy in mid-May.
Pinchme: you said you spent $6,500 last year for your trip, is that just for 2 people? just wondering because im not even thinking about spending that much for our family. I thought about just spending $5,000 for our trip (17 days in London, Edinburgh and Rome). Do you think that'll be enough? Im just not a credit card person. like to spend ONLY what I alrady have.
Just a thought.
Pinchme: you said you spent $6,500 last year for your trip, is that just for 2 people? just wondering because im not even thinking about spending that much for our family. I thought about just spending $5,000 for our trip (17 days in London, Edinburgh and Rome). Do you think that'll be enough? Im just not a credit card person. like to spend ONLY what I alrady have.
Just a thought.
Apr 22nd, 2008, 10:02 AM
#69
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MomDDTravel:
That's right. I alrady purchased our airfare from LAX-LHR (i got a good deal: $2,300 for the entire family. dont you think?). However, I have not purchased train tickets from point A to point B.
As for lodging, We are staying at our friends house in London and in Edinburgh. the only accomodation we need to pay for is in Rome (at a convent for 85 euros/night - does that sound ok to you?).
Thanks for your response, by the way. im just one of those worried moms around.
That's right. I alrady purchased our airfare from LAX-LHR (i got a good deal: $2,300 for the entire family. dont you think?). However, I have not purchased train tickets from point A to point B.
As for lodging, We are staying at our friends house in London and in Edinburgh. the only accomodation we need to pay for is in Rome (at a convent for 85 euros/night - does that sound ok to you?).
Thanks for your response, by the way. im just one of those worried moms around.
Apr 22nd, 2008, 10:16 AM
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Dainty - I am hardly an experienced traveler to Europe. I have only been once last summer with my two two daughters and dh.
Your airfare does sound good. Are you flying on Airfrance? They had some great LAX - LHR spring airfares I wanted to go!
I assume you have more then one room in Rome? Not sure how you are going to fit everyone in a convent room for 85 euros a night? How long are you in Rome for?
You realize it is a LONG way from UK to Rome right? You can take the train from London to Paris and over night to Rome (and I am sure there are other routes as well but that just came to mind). I believe you would be better served flying if you are going directly to Italy from the UK. It will be cheaper and easier on your family (and that comes from a woman who HATES to fly).
In the convent will you have cooking facilities? That is key.
We stayed in a two bedroom apartment in the spanish steps area and being able to cook a night in and eat breakfast in etc saved money.
Your $$ will go further in Italy then in the UK simply because of the exchange rate.
Not sure I have been any help -- but you budget is slim... one thing we did that you might enjoy is a day in the Borgesse <sp> park - there is a children's area etc - we rented bikes - your older child might enjoy doing that with you or dh while the other hangs out. It was not expensive either and a nice break from the hustle and bustle of Rome.
Your airfare does sound good. Are you flying on Airfrance? They had some great LAX - LHR spring airfares I wanted to go!
I assume you have more then one room in Rome? Not sure how you are going to fit everyone in a convent room for 85 euros a night? How long are you in Rome for?
You realize it is a LONG way from UK to Rome right? You can take the train from London to Paris and over night to Rome (and I am sure there are other routes as well but that just came to mind). I believe you would be better served flying if you are going directly to Italy from the UK. It will be cheaper and easier on your family (and that comes from a woman who HATES to fly).
In the convent will you have cooking facilities? That is key.
We stayed in a two bedroom apartment in the spanish steps area and being able to cook a night in and eat breakfast in etc saved money.
Your $$ will go further in Italy then in the UK simply because of the exchange rate.
Not sure I have been any help -- but you budget is slim... one thing we did that you might enjoy is a day in the Borgesse <sp> park - there is a children's area etc - we rented bikes - your older child might enjoy doing that with you or dh while the other hangs out. It was not expensive either and a nice break from the hustle and bustle of Rome.
Apr 22nd, 2008, 11:03 AM
#71
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If you care, the dollar will rebound.
Right now the Fed's focus is on bailing out the mortgage crisis. That entails dropping rates and borrowing money, both of which discourage foreign investors from buying US dollars. This too shall pass and probably about the same time that the Euro realizes the full effects of bringing a lot of seriously damaged economies (former Eastern Europe) into the fold and the currency.
The low dollar affects my ability to travel. A high dollar will have the opposite effect. Ultimately, I save and travel as much as I can and try to have the grace to not whine about stuff I can't control.
Right now the Fed's focus is on bailing out the mortgage crisis. That entails dropping rates and borrowing money, both of which discourage foreign investors from buying US dollars. This too shall pass and probably about the same time that the Euro realizes the full effects of bringing a lot of seriously damaged economies (former Eastern Europe) into the fold and the currency.
The low dollar affects my ability to travel. A high dollar will have the opposite effect. Ultimately, I save and travel as much as I can and try to have the grace to not whine about stuff I can't control.
Apr 22nd, 2008, 11:18 AM
#72
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Precisely which "seriously damaged economies of Eastern Europe" have joined the euro?
How would you compare the abilty of Slovenia, the only Eastern European euro country to enter the euro, with "undamaged" economies (like the US?) on:
- economic growth?
- fiscal prudence, as shown by the level of fiscal deficit?
- current account deficit as a proportion of gdp?
Europe imposes standards of financial responsibilty on candidates to join the Euro that the US, under the present adminstration, would fail humiliatingly. Whatever the arguments for and against the currency, there is zero chance "damaged economies" will be allowed into hte club.
As for the chances of the US turning itself into a responsibly managed economy: Obama's going to increase taxes is he? Or ban foreign imports?
How would you compare the abilty of Slovenia, the only Eastern European euro country to enter the euro, with "undamaged" economies (like the US?) on:
- economic growth?
- fiscal prudence, as shown by the level of fiscal deficit?
- current account deficit as a proportion of gdp?
Europe imposes standards of financial responsibilty on candidates to join the Euro that the US, under the present adminstration, would fail humiliatingly. Whatever the arguments for and against the currency, there is zero chance "damaged economies" will be allowed into hte club.
As for the chances of the US turning itself into a responsibly managed economy: Obama's going to increase taxes is he? Or ban foreign imports?
Apr 22nd, 2008, 11:18 AM
#73
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The dollar is not just sinking against the Euro. My American daughter is in college in Canada. The exchange rate has dropped the American dollar to just even with and sometimes below the Canadian dollar - quite a shock considering that the rate was about 1.20 can. when she started, and was closer to 1.60 when a cousin's daughter was in school in Montreal 7 years ago. So our good deal for college has evaporated - but she loves the city and the school!
Apr 22nd, 2008, 06:56 PM
#74
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"As for the chances of the US turning itself into a responsibly managed economy: Obama's going to increase taxes is he? Or ban foreign imports?"
Not if he goes socialist like Europe, that'll sink us. To turn into a responsibly managed economy the US will have to:
1-Stop wasting our money on foreign aid and military protection for the world. NO MORE spending billions on defence in Europe. You europeans will have to responsibly and fully fund your own defence.
2-Stop outsourcing our jobs and stop importing all these foreigners, legal or illegal, to replace american jobs. AMERICAN JOBS FOR AMERICANS.
3-Stop borrowing from China and rid ourselves of our debt to them.
Then we will have a responsibly based economy. Of course the rest of the world will moan the loss of their handouts and Europe won't like that it will have to fully fund its' own defence.(bout time for an EU army at YOUR expense.)
Not if he goes socialist like Europe, that'll sink us. To turn into a responsibly managed economy the US will have to:
1-Stop wasting our money on foreign aid and military protection for the world. NO MORE spending billions on defence in Europe. You europeans will have to responsibly and fully fund your own defence.
2-Stop outsourcing our jobs and stop importing all these foreigners, legal or illegal, to replace american jobs. AMERICAN JOBS FOR AMERICANS.
3-Stop borrowing from China and rid ourselves of our debt to them.
Then we will have a responsibly based economy. Of course the rest of the world will moan the loss of their handouts and Europe won't like that it will have to fully fund its' own defence.(bout time for an EU army at YOUR expense.)
Apr 23rd, 2008, 01:46 PM
#75
<<Not if he goes socialist like Europe, that'll sink us.>>
which european governments would you describe as socialist?
UK - hardly.
Germany. - definitely not
France - ditto.
Italy - they just re-elected Berlosconi, for whom the word capitalist seems to be particularly apt. [amongst others]
in fact, i can't think of one socialist government in Europe.
what you are describing, butnot, is protectionism. the major snag is obvious - if we all do it, the world economy collapses. of course, what protectionists want "American jobs for americans" and UK, german, french, italian, etc. etc. jobs for americans too.
we're all feeling the pinch. blaming those "foreigners" won't help.
regards, ann
which european governments would you describe as socialist?
UK - hardly.
Germany. - definitely not
France - ditto.
Italy - they just re-elected Berlosconi, for whom the word capitalist seems to be particularly apt. [amongst others]
in fact, i can't think of one socialist government in Europe.
what you are describing, butnot, is protectionism. the major snag is obvious - if we all do it, the world economy collapses. of course, what protectionists want "American jobs for americans" and UK, german, french, italian, etc. etc. jobs for americans too.
we're all feeling the pinch. blaming those "foreigners" won't help.
regards, ann
Apr 23rd, 2008, 01:57 PM
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Apr 23rd, 2008, 02:46 PM
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1) Stop foreign aid. OK, so that could lead to instability in governments of Egypt, Israel, Pakistan, Iraq, Afghanistan. etc.. OK, if you want to take that risk.
Also some of that money is being used to fight drug traffic in South America, OK, we can cut that too.
Some of this money is used to create markets/finance for American products (like arms) Ok, don't need that.
As for charity and disaster relief...
2) Ok, can be done. Of course you will have to be willing to pay the local market prices for these products. So if a worker earning $5 a day in China is the labour input to build one TV set, you won't mind that the american worker will be earning $100 a day , so the price of that TV set would need to go up dramatically, right? The reason a lot of these jobs are overseas is that it is cheaper. Are you willing to sacrifice in order to repatriate manufacturing jobs?
3) OK, can stop borrowing internationally. Of course, we'll still need to pay the interest on that roughly $3 trillion. How much do you think that will be?
And then there is the budget deficit..since we can't finance it overseas, we'll have to find that money internally. Want to guess what that amount is?
Also some of that money is being used to fight drug traffic in South America, OK, we can cut that too.
Some of this money is used to create markets/finance for American products (like arms) Ok, don't need that.
As for charity and disaster relief...
2) Ok, can be done. Of course you will have to be willing to pay the local market prices for these products. So if a worker earning $5 a day in China is the labour input to build one TV set, you won't mind that the american worker will be earning $100 a day , so the price of that TV set would need to go up dramatically, right? The reason a lot of these jobs are overseas is that it is cheaper. Are you willing to sacrifice in order to repatriate manufacturing jobs?
3) OK, can stop borrowing internationally. Of course, we'll still need to pay the interest on that roughly $3 trillion. How much do you think that will be?
And then there is the budget deficit..since we can't finance it overseas, we'll have to find that money internally. Want to guess what that amount is?
Apr 23rd, 2008, 04:43 PM
#78
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"we're all feeling the pinch. blaming those "foreigners" won't help."
I'm not blaming foreigners, I'm blaming the US government. The basic fact is that for a nation to be strong and healthy, it's people have to have jobs at a fair wage. When we send our jobs overseas and import people to replace our jobs and lower our wages, americans have fewer jobs and less money and this is one of the reasons we are heading into a depression. It's nothing more than corporate greed. Mr.Fatwallet CEO of XYZ Co. was rich by hiring americans, but that wasn't good enough. He hit on the bright idea of hiring Chinese at slave wages so he can be uber rich. This is why american jobs should go to americans, british jobs to brits chinese jobs to chinese etc. and each trades with the other. Globablization will sink us,mark my words.
I'm not blaming foreigners, I'm blaming the US government. The basic fact is that for a nation to be strong and healthy, it's people have to have jobs at a fair wage. When we send our jobs overseas and import people to replace our jobs and lower our wages, americans have fewer jobs and less money and this is one of the reasons we are heading into a depression. It's nothing more than corporate greed. Mr.Fatwallet CEO of XYZ Co. was rich by hiring americans, but that wasn't good enough. He hit on the bright idea of hiring Chinese at slave wages so he can be uber rich. This is why american jobs should go to americans, british jobs to brits chinese jobs to chinese etc. and each trades with the other. Globablization will sink us,mark my words.
Apr 23rd, 2008, 05:02 PM
#79
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"Stop foreign aid. OK, so that could lead to instability in governments of Egypt, Israel, Pakistan, Iraq, Afghanistan. etc.. OK, if you want to take that risk. "
Foreign aid is taxes and taxes come from our paychecks, the money belongs to the american people. It is OUR money. The government does NOT have the right to take OUR money and hand it over to foreign citizens. If an ally of ours(israel) were threatened with attack, then yes we should step into help them but otherwise the middle east IS unstable and the US can't fix that and it's not our job.
"Also some of that money is being used to fight drug traffic in South America, OK, we can cut that too."
This isn't foreign aid per se, it is money used to fight crime, a different issues.
"Some of this money is used to create markets/finance for American products (like arms) Ok, don't need that"
These are business deals, not the same thing.
"Ok, can be done. Of course you will have to be willing to pay the local market prices for these products. So if a worker earning $5 a day in China is the labour input to build one TV set, you won't mind that the american worker will be earning $100 a day , so the price of that TV set would need to go up dramatically, right? The reason a lot of these jobs are overseas is that it is cheaper. Are you willing to sacrifice in order to repatriate manufacturing jobs?"
There is no sacrifice. In the 1950's, we had no outsourcing and little immigration. Everything was made in the USA and we were a lot better off then. People were employed, had healthy wages and the country was booming. If americans were making a 100 dollars a day, sure, the corporate executives would only be very rich instead of super uber rich but americans would all be employed at fair wages and spending their money likewise and paying more in taxes which could be plowed back into our people for healthcare,schools roads. Then our economy was robust, today we're heading into a depression and as we continue to outsource and insource, it's only going to get worse for the american people.
"As for charity and disaster relief..."
My exception, foreign aid should be used for disaster relief such as a famine but it should be a joint effort amongts countries.
"OK, can stop borrowing internationally. Of course, we'll still need to pay the interest on that roughly $3 trillion. How much do you think that will be?"
We are in debt up to our eyeballs and congress keeps spending like a drunken sailor, this can't go on. We will go broke.
Foreign aid is taxes and taxes come from our paychecks, the money belongs to the american people. It is OUR money. The government does NOT have the right to take OUR money and hand it over to foreign citizens. If an ally of ours(israel) were threatened with attack, then yes we should step into help them but otherwise the middle east IS unstable and the US can't fix that and it's not our job.
"Also some of that money is being used to fight drug traffic in South America, OK, we can cut that too."
This isn't foreign aid per se, it is money used to fight crime, a different issues.
"Some of this money is used to create markets/finance for American products (like arms) Ok, don't need that"
These are business deals, not the same thing.
"Ok, can be done. Of course you will have to be willing to pay the local market prices for these products. So if a worker earning $5 a day in China is the labour input to build one TV set, you won't mind that the american worker will be earning $100 a day , so the price of that TV set would need to go up dramatically, right? The reason a lot of these jobs are overseas is that it is cheaper. Are you willing to sacrifice in order to repatriate manufacturing jobs?"
There is no sacrifice. In the 1950's, we had no outsourcing and little immigration. Everything was made in the USA and we were a lot better off then. People were employed, had healthy wages and the country was booming. If americans were making a 100 dollars a day, sure, the corporate executives would only be very rich instead of super uber rich but americans would all be employed at fair wages and spending their money likewise and paying more in taxes which could be plowed back into our people for healthcare,schools roads. Then our economy was robust, today we're heading into a depression and as we continue to outsource and insource, it's only going to get worse for the american people.
"As for charity and disaster relief..."
My exception, foreign aid should be used for disaster relief such as a famine but it should be a joint effort amongts countries.
"OK, can stop borrowing internationally. Of course, we'll still need to pay the interest on that roughly $3 trillion. How much do you think that will be?"
We are in debt up to our eyeballs and congress keeps spending like a drunken sailor, this can't go on. We will go broke.
