Go Back  Airline Pilot Central Forums > Pilot Lounge > Money Talk
US Dollar Fall Below 100 Yen For First Time in 12 Years >

US Dollar Fall Below 100 Yen For First Time in 12 Years

Notices
Money Talk Your hard-earned money

US Dollar Fall Below 100 Yen For First Time in 12 Years

Old 03-13-2008, 09:15 AM
  #1  
Gets Weekends Off
Thread Starter
 
machz990's Avatar
 
Joined APC: Jul 2006
Position: 777 CAP
Posts: 494
Default US Dollar Fall Below 100 Yen For First Time in 12 Years

The US dollar is in a freefall. I saw on the news today that we fell below 100 yen for the first time in 12 years. We've had a 20% drop against the Phillipeno peso in less than a year. I've seen the dollar go up and down for many years but it held steady against the Phillipeno peso. The dollar dropping so much in so little time against a much weaker currency should get your attention.

Recently the US dollar went through the psychological barrier of 1.50 against the Euro and is now trading at 1.5411 today. This is the bank rate in 1 million dollar blocks. Add in your bank and ATM fees and you are looking at 1.57 or better.

This will not bode well for those who bid the FDA's. On 06/27/07 when the LOA was released to the crewforce for review, the $2700 offered was worth 2005.79 Euros. Today that same $2700 has eroded to 1751.99 Euros. That is a loss of 253.8 Euros or $391.13 US dollars per month. Who is going to absorb that loss? We don't even have aircrews over there yet. It's business as usual for FedEx. They have a signed LOA.
machz990 is offline  
Old 03-13-2008, 12:25 PM
  #2  
Gets Weekends Off
 
Joined APC: Feb 2007
Posts: 440
Default

There might be some good news on the horizon. The S&P announced today they believe the banks' write-offs from the sub-prime mess is over. i.e., the worst is supposedly behind us.
Led Zep is offline  
Old 03-14-2008, 10:38 PM
  #3  
Gets Weekends Off
 
daytonaflyer's Avatar
 
Joined APC: Oct 2005
Position: Jump
Posts: 276
Default

That mess won't be over 'til housing prices are lowered to pre 2004 prices (the true house values).

Hopefully this will teach everbody that you can't become a real estate investor over night to get rich quick.

Here's are some good rules of thumb.
1. If your house is currently valued at $200,000...the actual value should be reduced by at least $50,000.

2. If your house is currently valued at $300,000...the actual value should be reduced by at least $75,000.

3. If your house is currently valued at $400,000...the actual value should be reduced by at least $100,00.

And so on and so on.
daytonaflyer is offline  
Old 03-16-2008, 01:17 PM
  #4  
On Reserve
 
Joined APC: Feb 2008
Position: T-38C
Posts: 13
Default

Is oil at historic highs in other countries? Is the record oil price more a function of the weak dollar.
sean00xj is offline  
Old 03-20-2008, 05:27 AM
  #5  
Line Holder
 
Joined APC: Dec 2007
Posts: 36
Default

Originally Posted by sean00xj View Post
Is oil at historic highs in other countries? Is the record oil price more a function of the weak dollar.
I just got back from driving around Europe for several days in a rental car. The price of a liter of gas there (0.2645 US gallons) was only marginally more expensive than it was three years ago. Diesel was even less of an increase, but I think that it's subsidized in Europe. Gas in some areas as little as .05Euro more, others .15Euro more. So if you do the math..............

I wish we had some of the cars they have here though. I rented a BMW 120d, and was getting 34mpg, driving it like I stole it.
B717U2 is offline  
Old 03-20-2008, 09:30 AM
  #6  
Gets Weekends Off
 
atpwannabe's Avatar
 
Joined APC: Jan 2006
Position: Math Teacher
Posts: 2,273
Default

Against the British pound it's even worse!!!

What is it going to take to get the dollar strong again? IMHO, a substansive change in monetary & fiscal policy in this country. I think we may already be a debtor nation.



atp
atpwannabe is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
captain_drew
Flight Schools and Training
38
12-05-2012 08:29 AM
vagabond
Hangar Talk
4
12-26-2007 08:50 AM
Zoro
Cargo
28
09-13-2007 11:09 AM
captain_drew
Hangar Talk
2
04-14-2006 04:46 PM
Tech Maven
Pilot Health
2
01-01-2006 03:27 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices