Today’s Working Daze cartoon.
(HT to Phrasskin)
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6 Comments
Sorry, but it’s about as funny as this
Live rates at 2008.05.08 04:08:05 UTC
1.00 KRW = 0.000956513 USD
South Korea Won United States Dollars
1 KRW = 0.000956513 USD 1 USD = 1,045.46 KRW
What’s going on?
Today’s FT:
Europe and US unite on stronger dollar
By Krishna Guha in Washington and Ralph Atkins in Frankfurt
Published: May 8 2008 02:01 | Last updated: May 8 2008 02:01
The US and Europe now have a united desire to see the dollar strengthen against the euro, senior officials have told the Financial Times.
Policymakers welcome the recent rebound in the dollar, which at one point on Wednesday rallied to a six-week high against the euro. They are concerned that the currency markets have been paying too much attention to short-term economic weakness and market stress in the US, and not enough to the medium-term prospects for the US and Europe, a senior US official said…..
I don’t get it (the cartoon). Can somebody explain?
Is it because historically, Korea has been poor, and work was outsourced here (Korea) as a result? But now, the Korean economy is going up, and the US economy is down?
It’s just a statement on the recent reversal of fortunes for the US economy. It has nothing to do with Korea - whose name was chosen probably just to avoid using names like China and India, which might cause more upset among the readership.
Thanks Linkd
Cripes, John, forget about the rumor-mongering by the West’s central bankers. If it’s really true that China is selling off its Euros, THAT would mean some serious dollar strengthening.
http://www.rgemonitor.com/blog/setser/252577/
(I’ll now say goodbye to this comment for the next several hours, as it wallows in a spam trap. Bye, bye!)