Flibbertigibbet

Dollars to Pounds

I don't write about the US economic situation too much because, frankly, I don't know or don't follow the macroeconomic stuff very closely. But it's impossible for a person to miss some mention of the things going on today.

- The Fed dropped interest rates by a half percent.
- The dollar is being devalued all over the place (inflation).
- The Canadian dollar just reached a 1:1 exchange rate with our dollars. (It used to be less)
- The British pound is 2:1. (It's been stronger for a long time, but now it's REALLY strong.)
- Gold recently reached a 28-year high.
- Housing prices are falling dramatically.

None of these things are good for the American consumer.

The money guys on teevee the other night were yelling that if you have any savings, you should convert it to a good foreign currency like pounds or euros. They say it's really easy to do that.

Sadly, you can't say no one saw it coming. Even more sadly, there is a lot of varied theories on how to make this stop and reverse course.