EUR/USD just hit parity

[Trboatworks]

I don’t see this changing manufacturing exports but is an interesting hallmark.

 

[DDoug]

Interesting.
could you please post the same chart for the pound ?

 

[Trboatworks]

The Pound is quite low as well- rolled off of 1.185 to 1 USD this morning.

 

[triumph406]

The Pound is quite low as well- rolled off of 1.185 to 1 USD this morning.

I remember when it was briefly 1.0ukp = 2.0usd, the it seemed to be 1.0ukp = 1.50-1.60usd for ever. Welcome to the new world. Soon it'll be worth sending money home to the UK

 

[Georgineer]

When I was younger, half-a-crown (two shillings and sixpence) was commonly called half-a-dollar, in memory of the time when a pound was worth four dollars.
George

 

[thermite]

Interesting.
could you please post the same chart for the pound ?

Sterling // Dollar over the ages - with the reasons, even:

The 200 Year Pound to Dollar Exchange Rate History - From $5 in 1800s to Today's $1.29 | Articles | Exchange Rates UK

The 200 Year Pound to Dollar Exchange Rate History - From $5 in 1800s to Today's $1.29 | Articles | Exchange Rates UK

www.exchangerates.org.uk

Consumers in UK OR EU are far the worse off than US by seriously onerous VAT burden and higher costs for basically ANYTHING and EVERYTHING:

Energy, housing, transport, food, beverages, meals-out, craft services, clothing, and any other goods.

They are resouce-poor for starters, then have to also carry higher social costs burden, plus higher cost to pay onpassed share of all the OTHER guy's high taxes and social costs,

Euro/GBP "parity" puts their average citizen at about 40% to 60% of the Purchasing Power of a US citizen for the same amount of money.

.....there not actually being any such of a thing as a "free lunch", legislated or never.

 

[William Payne]

I remember when that happened with the New Zealand dollar. Was a fantastic time to buy things as things in the USA are cheaper than cheap.

 

[mrSanders62]

this is called "capital flow". money is fleeing from stupid European politicians to a safe haven

 

[thermite]

this is called "capital flow". money is fleeing from stupid European politicians to a safe haven

"Safe haven" As-in holds value ..... and nobody can take it way from you?

How'd that work out for the RF Banks ..... or the individual kleptocrats?

If "gone" is "safe", seems it fled from frying pan to fire?

A destitute homeless person could be just as well off ... and have far fewer worries?

Freedom's just another word
For "nothing left to lose"..

(Kris Kristofferson and Fred Foster)

 

[mrSanders62]

"Safe haven" As-in holds value ..... and nobody can take it way from you?

How'd that work out for the RF Banks ..... or the individual kleptocrats?

If "gone" is "safe", seems it fled from frying pan to fire?

A destitute homeless person could be just as well off ... and have far fewer worries?

Freedom's just another word
For "nothing left to lose"..

(Kris Kristofferson and Fred Foster)

I am not interested in kleptocrats, Russian or American. I'm talking about the economic process

 

[Georgineer]

I think Sir Philip Gibbs had it right in his book "England Speaks" (1939), where he wrote:
"I've come to the conclusion that money is an illusion... It's fairy arithmetic, made by mysterious people called Bankers".
George

 

[Ries]

Good time to buy euro priced machinery. Several of my machines came from europe, sometimes when I had no choice but to buy at high euro to dollar rates. Parity is much better. Particularly for fab machines, there are things where the only good choice is imported from euro countries.

 

[michiganbuck]

Wow, the Canadian dollar is also down.
Could rushing to gold or property / non-inflation items be some of the reasons?

QT Therm : A destitute homeless person could be just as well off ... and have far fewer worries?

When comparing a homeless person in warm California who may be better off than a guy working and trying to pay bills with earned money.

I have a 4-person tent and could likely buy enough gas to make it to California.
$600. for gas, $200. for food., $18.00 for beer, $6.00 for ice.
and then find a 15.00 for-cash surface grinding job...I would live like a king.

I would choose Qxnard California over LA. Even Ventraua Ca has a tent city.

STILL There: Oxnard’s Most Remote “Homeless” Encampments By the Sea - Citizens Journal

By George Miller, David Scrivner & Abraham Mendez Ormond Beach, Oxnard, CA We recently visited the numerous, remote, persistent and illegal Oxnard beach encampments and have some news to report to you (most photos were taken on 9-7-19). In summary: The encampments are far from being "cleared...

www.citizensjournal.us

 

[thermite]

Wow, the Canadian dollar is also down.
Could rushing to gold or property / non-inflation items be some of the reasons?

QT Therm : A destitute homeless person could be just as well off ... and have far fewer worries?

When comparing a homeless person in warm California who may be better off than a guy working and trying to pay bills with earned money.

Or end up buried in ash, mud, de-hydrated to death, done-in by some other fool's infected needle or diseased sidewalk s**t, or murdered for his trainers, if for any reason at all.

Outpacing its naturally variable environmental resources has laid waste to California-as-we-knew-it in the physical realm.

Exponential abuse of stupid pills as recreational drugs has f**ked-up its politcal and moral realm.

I would choose Qxnard ..

Sweet, clean, and lovely - wimmin' as well - as a Danish town, back in the day, if slightly duller than watching the Pacific Ocean gradually dry-up. You'd have to know the Danes?

Not as nice now.

 

[mjk]

Sorry
Off topic
TR pkg show up?

 

[Trboatworks]

Sorry
Off topic
TR pkg show up?

Yes it did indeed.
Thank you so much they will be put to good use.
The Audels is a find.

Thanks again-
Thomas

 

[michiganbuck]

I think the world economy is in such stress nobody knows what will happen, and with the Russia / Ukraine war and the threat of a big war, everything will be on thin ice until that war ends.
The USA production was holding down Russia's gas and oil prices, now that is being lost.

And the stock market in the dumpster...keep your eye on that open 27th-floor window.

 

[Trboatworks]

I think the world economy is in such stress nobody knows what will happen, and with the Russia / Ukraine war and the threat of a big war, everything will be on thin ice until that war ends.
The USA production was holding down Russia's gas and oil prices, now that is being lost.

And the stock market in the dumpster...keep your eye on that open 27th-floor window.

Agree with most of that but…

“The US production was holding down Russias gas and oils prices and now that is being lost”

US crude production as been surging since 2010 or so after having slowed for the decades prior.
That output continues unabated today I don’t see how it could be said to be lost.
Largely the peripheral deposits extraction via fracking lended a boost to the otherwise failing crude resources.

Crude prices bottomed in 2016 and reversed.
Leaving aside the Covid anomaly prices have been in a rally ever since.

 

[michiganbuck]

The reduction of oil and gas leases is likely to reduce USA production.
I leased out mineral rights twice on my hunting property. Hopefully, this lease reduction will bring me a new lease.
One lease to Shell Western and the other to Encana. Shell Western did the seismic testing

 

[Trboatworks]

Thousands of wellheads were idled during the 2016 crude bust while an additional hundreds of crude service companies failed.
There was substantial capital loss throughout the sector from which recovery is still uncertain.
The lease utilization rate stalled and outside of being a political issue I wouldn’t say the issue is in any form caping crude and gas production in the US.

There are lots of “stories” being told about crude issues for political traction.
Most can be dismissed out of hand.
One of them resides here: