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Slide towards parity...
Re: Ya know, Late, I see you guys understand all of this currency data, but my wallet tells me what the dollar is worth and my grocery bills--believe it or not are at least 20% higher.... -- Dee Wee Post Reply Top of thread Forum

Posted by: LateForLunch

03/06/2022, 05:49:15

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...simply means that the Euro (once valued at 150% of U.S. Dollar) has lost so much value in the twenty years it has existed, that it's now almost equal to $1.00.

It's largely because the European Union includes a bunch of countries (like Italy and other mostly southern-European states) whose debt-to-GDP is pathetic (their debt is more than their GDP). That makes the currency's value much lower than it would be if only economically-healthy states were members. The endless defaults and bankruptcies of socialist states (with massive entitlement spending they can't afford) drags down all of the healthy states.

Modified by LateForLunch at Sun, Mar 06, 2022, 05:52:09

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