Mike Macgirvin
Diary and Other Rantings
Beyond Silicon Valley
   
Monday, May 12 2008, 04:56 pm
Sep 28, 2007
Loonie exchange rates

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. 

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Nov 25, 1998
AOL buys Netscape
AOL buys Netscape for $US 4.2B, making me suddenly quite wealthy. I had a whole lot of Netscape stock options that weren't worth much until this changed everything.
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for ARTIFICIAL FLAVORING!!