The dollar continues to slide.
My friends in the northern hemisphere may not have heard the news yet, but last week the Canadian Dollar (aka the Loony) reached parity with the venerable US Dollar for the first time in memory (perhaps the first time in recorded history).
The Australian Dollar isn't too far behind. Unless something radical happens, I figure we'll be at parity before Christmas.
A few years ago, my (then) U.S. dollars would get me roughly $2 Australian. When I arrived here in April, it was about $1.25. The last few days it's been creeping down to $1.10. On the bright side, U.S. goods will only get cheaper - and by extension, Chinese goods, since they're artificially tied to the USD. (Won't be long before the Chinese wise up to how much money they're losing by doing this).
On the downside, my 401K is still sitting overseas - losing value every day; and there's not much I can do about it. There's a stiff penalty for early withdrawal, and I don't believe they recognize the Australian superannuation (aka 'super') system as a valid rollover choice. By the time I can touch it without penalty in about ten years, it will probably be worth a few cents.
that got out of hand. So far out of hand in fact its almost approaching
usability because other folks thought it worth doing - Alistair Riddoch
especially.
-- Alan Cox

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