Quote:
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Originally Posted by stevo
Where did you pull this out of? Do you mean the US vs itself 2 years ago? because I'm pretty sure we haven't had 70% inflation in 2 years. In actuallity inflation has been something around 2%.
Do you mean US dollar vs the Euro? Because we haven't had a 70% loss vs the euro in the last 2 years, even when the dollar was at the 2 yr high. The dollar has lost around 2.5% vs the euro in the last 2 years.
So do you care to elaborate on just exactly what you meant when you said the dollar is worth less than 70% of what it was 2 years ago, because you can't just make up facts, especially financial ones that are easily disputed, and expect people to believe anything you have to say.
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Jun 14, 2002 .9448 = Cost of one Euro in U.S. dollars
Mar. 11, 2005 1.3465 = Cost of one Euro in U.S. dollars
(.70 X 1.3465 = .938 )
Source:
http://www.federalreserve.gov/releas...t/dat00_eu.htm
stevo, in a recent 33 month span (less than a three year time frame), the
dollar was worth less than 71 percent of it's June 14, 2004 exchange rate
with the euro, when compared to the rate on Mar. 11, 2005.
On Apr. 12, 2002 , .8792 U.S. dollar purchased one euro.
On Dec. 27, 2004, 1.3625 U.S. dollars purchased one euro
In that recent timeframe, the dollar declined to just 64.25 percent of it's former euro purchasing power in just 32.5 months, or 2 years and 8.5 months.
I think that chickentrib's 70 percent comment is nearly dead on accurate, and that there is nothing to dispute in regard to the Fed's own data on daily euro exchange rates in U.S. dollar pricing. I do question his point that a weaker dollar somehow negatively impacted GM since, theoretically, GM should be better able to export domestic vehicle units to sell in euro based economies.