The US dollar hit a new low to the Euro - $1.50 to one Euro, the lowest since the Euro was created. As a result, Europeans are flocking to 'Merican malls especially once they realize they can shop at Barneys, Tiffany, Manolo Blahnik and other iconic stores at a discount because of the weakness of the dollar against the euro and British pound.I have just come back from the mall - of course, the trip was against my will. I had really no excuses except for illness. I couldn't even fake that there was an important game on - as it's that brief period of no baseball or football -- and my wife knows I don't give a rip about basketball anymore.
But I have to tell you, as an eyewitnes, there was 10x the amount of Eurotrash at the mall than normal trash. It was striking to see how many people were pushing their way around like there was a fire sale somewhere - which there was - just for them.
Can you imagine getting a discounted plane trip, a 4 star hotel at motel prices, and then buying everything HALF what's on the tag? Sounds like how things used to be... alas, the roller coaster of the free market society has bulls and bears - but let's look at the bright side of this -Cap'n's take away: Yeah, the recession may be on, but this low dollar will not stop sales - it's just that 'Mericans won't be the ones buying. Hell, after what I saw today, I think that the service sector might actually GROW during this recession - and it won't stop with watches and iPods - I can imagine a couple Bulldozers being thrown around in the same fashion.
No comments:
Post a Comment