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In Reply to: RE: Dollar Euro Parity Coming posted by amioutaline? on January 15, 2015 at 06:59:09
and their currency shot up like 30% in one day. It will be interesting to see what the manufacturers there do.
Follow Ups:
..."Made in Germany"...a low cost manufacturing region...until they drop the Euro too. Beware of Greeks bearing gifts!
"until they drop the Euro too"
Just so no one gets confused about it, Switzerland isn't a Euro currency country. They accept the Euro as a currency for payment of goods and services, but they still use the Swiss Franc as their national currency. This is actually a pain in the butt for Swiss retail businesses, because store shelves show the price of a product in both currrencies - and thousands of businesses have to make their Euro pricing decisions and product labeling on an almost daily basis (especially today!), which is labor-intensive.
:)
As one who is paid in Swiss francs I can say that it is a good time to buy used gear from the EU!!
...since you're paid in Swiss francs, wouldn't the EU benefit to a greater extent if you purchased new equipment instead of used? ;-)
The first time I went to Switzerland in 1973, the U.S. dollar bought about 3.7 SFr. Now, it buys about 0.9.
On the upside, it makes mentally doing the conversion a lot easier: If a bottle of Fendant is priced at 18 SFr, that's basically $18. Similarly, if a hotel room is 250 SFr, that's basically $250. Yikes.
My guess is that you're seeing a lot more Chinese tourists now than American.
:)
The german economy has benefitted enormously from other countries keeping the value of the Euro down.
They will not leave unless it totally collapses.
Germany already has the highest labour costs in the world, a highly valued Deutsch Mark would kill them economically.
......many analysts seem to think that an unplanned/untimely "Grexit" would destabilize the eurozone in a manner that would be difficult to manage. Some interesting deals are going to occur betw Greece the IMF, the EC and the ECB in Feb. Don't touch that dial.
...and that was to prevent them from dropping the euro. They would still have to pay the money back.
I think it's too late for them to drop it, they should never have entered. The banks pretty much fooled them into doing it.
Germany does not have the highest labor costs in the world. I think wages are actually low here compared with the Scandinavian countries, or even France.
The real shock is going to be when the Chinese decide they don't want to make all of our stuff anymore, AND disinvest in US debt (they're already moving in those directions).
The main reason the US keeps its head above water still is, in general, despite the slow economy, their currency is still the world's 'reserve' currency, which pretty much means they can just print it without limit.
And now the Swiss have given some even more reason to use that one as a reserve instead.
...not the highest in world but certainly the highest of the top 5 exporting countries.
Point being that were Germany not in the Euro zone their labour cost would easily be 50% or more higher than they currently are.
...will the Swiss (and/or Chinese) navy be up to the task of protecting the Mideast oil routes so the world can get its cheap energy fix? I would guess not....for at least a while!
Later!
Yes, they would have a very hard time protecting any international shipping lanes with their loake foltillas.
The Chinese don't care who they buy from and somebody will sell since oil is worthless until you do.
The Swiss sit on everybodies secret stash so nobody in power will ever mess with them lest they lose their ill-gotten nest egg.
"The Swiss sit on everybodies secret stash so nobody in power will ever mess with them lest they lose their ill-gotten nest egg. "
Bullshit.
50 years ago, you might have had a case, but not today.
there is much great gear coming from Germany right now.
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