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Re: Oil hits $114/barrel - No end in sight.
Quote:
Originally Posted by Doctor Who
If they could buy American gas with British pounds this would make sense. Otherwise it is completely irrelevant. When was the Pound equal to a buck?
1993 1P = $1.50
2008 1P = $1.99
That's a 33% increase...not exactly doubled huh?
Historic Exchange Rates
Suckers. Don't they know we are in a declining market here?
Have you checked real estate prices in London? When I moved from Chicago back to the land of cotton I couldn't believe how much house I could buy either. It's all relative. And I remember when the Japanese were buying up an "on sale" America also. How'd that work out for them? |
10 years ago the pound was $1.09, the euro was around .90 up from .79 a year earlier.
Actually vacation homes in the White mountains have held their value pretty well, there aren't a lot of for sale signs, and with foreign demand, the dollar prices are fairly steady, although to the foreigners everything is a lot cheaper than they remember from their last trip.
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“ The subjects of every state ought to contribute towards the support of the government, as nearly as possible, in proportion to their respective abilities; that is, in proportion to the revenue which they respectively enjoy under the protection of the state.”
Adam Smith , The Wealth of Nations 1776
"We have always known that heedless self-interest was bad morals; we know now that it is bad economics"
FDR's second Inaugural Address
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