I've just returned from two weeks of camping with my family
in Sequoia / Kings Canyon, June Lakes, and Yosemite. It was a
wonderful trip, but I couldn't help but notice that it seemed
very much like camping in Europe, because we were literally
surrounded by Europeans!
All were very nice, and we made some friends that we'll keep.
But the numbers were alarming. A docent at California's Bodie
(ghost town) State Historic Park told me that just over 1/4 of
the cars proceeding down their 3-mile dirt road included
Americans. This is dispite the fact that our poor economy has
many Americans doing "stay-cations", trips to
destinations within a single tank of gas from home. But Europeans
still dominated the mix.
The Euro has almost doubled against the U.S. Dollar during the
Bush administration (0.8252 USD per EUR on 26-October 2000,
1.5835 USD per EUR on July 11). The USA is thus "on
sale" for European tourists this summer. Of course the
increase in tourism will pump up our economy slightly, but the
USA is not some Bahamian island that can be supported by tourism.
The converse is that it's about twice as expensive as it used
to be for Americans to travel in Europe. Much of my work is
there, and I generally don't buy anything overseas any more.
While there, I eat from supermarkets and fast-food joints rather
than good restaurants. I stay in the cheap places around
London's Earls Court, and they cost over $100 USD per night.
I wonder how different things might have been if the U.S.
didn't freak out after 9/11, cocooning ourselves in fear of
terrorism and starting wars on two fronts that are bleeding our
economy with no exit in sight. I was in London for the two most
recent subway incidents: one a real bombing, the second in which
the UK police slaughtered an innocent Brazillian man mistargeted
as a terrorist. Everybody went home on the tube as usual after
both those events and most importantly they didn't let
terrorists make them live in terror. Of course, they'd
had lots of practice with the Blitz, the Troubles, etc.
The Bush administration used 9/11 for its own purposes:
they'd planned an Iraq invasion before taking office, and the
Patriot Act, passed a mere 20 days after the September 11 event,
must have been written beforehand. They took an economy that
everybody knew was fragile with housing inflation, and added the
straw of war spending to that camel's back while feeding
their cronies from those same war funds.
We need a change from that. And whatever leadership we elect,
their first job has to be to lead us not to live in fear.
Obviously there isn't a lot of history with the Euro, but if
you compare the Pound vs. Dollar over the past
50 years, it is obvious that current exchange rate isn't
unusual at all. And compared to the 1970s, the current 1GBP to
1.85USD rate is a pretty good deal.
It is almost like there are economic cycles or something...
Sure, there are cycles, but it's misleading to think of
them as economic rather than political cycles.
Pretty clear to you. But if you consider all of the facts - in
particular, the
US interest rates, would point to the economic cause. You
might argue that the economy is depressed because of the response
to 9/11, but it isn't as through the world is punishing the
US for that. It is just business; US interest rates are low, so
the money goes elsewhere.
And a weak dollar isn't a bad thing (unless you are traveling
overseas or buying European goods). It isn't only tourism
($30 billion is nothing to sneeze at) that benefits, but also
goods that are exported and everyone in the US that produces
them. For one thing, it is making IT outsourcing much more
expensive and less attractive to US companies.
Anyway, it is interesting that you decided to post this now,
especially since it appears to
be reversing.
While in Las Vegas for a wedding last month, I also noticed a
higher than usual proportion of Western European tourists. I also
attributed it to the Euro's strength, or the Dollar's
weakness, and some good overseas marketing. If the Americans
aren't playing, the casinos will get the Europeans.
As for our collective reaction following Sept. 11, 2001, we The
People own it. The Government does not do whatever it wants. It
does whatever We let it do. We chose the illusion of security
over freedom and to look the other way in the prelude to Iraq,
and then allow there to be no change since the 2006 elections
but in the 2006 election the people wanted change and Democrats
were given a golden opportunity, yet they largely just let the
Republicans lead them around by the nose on major issues, even in
the past couple months most of them have been spineless and
worthless and just marched to the Republican's cadence.
That is the truly puzzling part to me. It is bad enough that we
will not know the truth about Iraq until fifty years from now
(like the Kennedy assassination), but why is there no real
political movement? Whether Iraq was right or wrong, there should
be a lot more disussion, that or all that has been said against
it has been just political posturing and there was a real
perceived need to invade Iraq.
I used to think along Republican lines, their tale being more
about personal responsibility and using personal charity, untaxed
and not bureaucratic charity if you like, to help each other.
Then they became "Neo-Cons" which are really out there
in some ways, not quite fascist but might like it if they thought
it possible to succeed. Then the Democrats, their tale being one
of helping the common man, what happened there? Aside from empty
promises to help everyone, including those who do not want or
need help, I have no idea what that party stands for anymore.
Neither was my friend before 2001. Neither is my friend now. Both
appear to want to own me.
Somewhere in the 1990's the two opposites became one. -1 + 1
= 0, and that is what we have, zero.
Uh-huh. And I'm pretty disappointed in that. I've pretty
much given up on Pelosi, even though she's from my own state.
A Democratic presidential win might only be an
incremental change, rather than the real change we need.
But a Republican win would probably mean movement in the wrong
direction.
> The Euro has almost doubled against the U.S. Dollar
during the Bush administration (0.8252 USD per EUR on 26-October
2000, 1.5835 USD per EUR on July 11)
The Euro was undervalued then and is overvalued now. A year from
now my guess is it will be somewhere in the middle of those two
numbers.
> The Bush administration used 9/11 for its own purposes:
they'd planned an Iraq invasion before taking office, and the
Patriot Act, passed a mere 20 days after the September 11 event,
must have been written beforehand. They took an economy that
everybody knew was fragile with housing inflation, and added the
straw of war spending to that camel's back while feeding
their cronies from those same war funds.
Agreed, they used it for their own purposes, but the Iraq thing
is more complicated. There were members of the administration who
thought Iraq was unfinished business, but the leadership pre-2001
had a "I'm not getting involved" foreign policy.
The Bush administration were basically hermits pre-September-11,
and I believe would have remained so if not for the event.
As for the economy, you overplay the responsibility on the
government. Although I'd agree the Iraq war is expensive, the
majority of economic problems right now are due to the greed and
stupidity of banks and real-estate investors, all of which would
have occurred regardless of who was in power. Even if you blame
the Greenspan Fed's low interest rates through-out the 2000s
as part of the problem, the Bush administration had little to do
with that. Greenspan was appointed by Reagan. Take the Iraq war
out of the picture and I don't think the economic woes would
be much different.
But agreed, the Iraq war was a mistake, the Bush administration
is incompetent, secretive, and ethically corrupt. Also agreed
that, as a generalization, the Brit public handle terrorism
significantly better than in the US, but they're far from
perfect themselves. The US Patriot Act is a walk in the park
compared to some of the Brit surveilance.
It is true that economic factors and the strong Euro is allowing
Europeans to travel more. I
think you will find that the US$ will regain its strength against
other currencies in the near future. The US was (and still
is) being hit very hard by the sub-prime debacle, the effects of
which are really just starting to be felt in Europe (and other
places).
European countries are starting to talk more about recessions and
a lot of people are being sacked from many big financial
institutions. Something of which London and the UK economy is
based on. The possibility of a world wide depression should not
be ruled out. Singapore is pouring a lot of money into the major
banking systems to try and prevent this.
I don't think you can compare the explosions (mainly unseen)
in London and the reaction to them, with the destruction of
the Twin Towers. The attack on the Twin Towers was so
spectacular and viewed via the media nation wide and world wide
it was no wonder that people of the USA "freaked" out
and had to "hit out" at some one (considering the
nationalities of those involved it should have been Saudi
Arabia). Perhaps a "new broom" in the White House
will sweep clean the troubles that beset the USA and start a
world wide recovery.
Isn't most of Europe on holiday right now? My collegue in our
Paris office has just come back after 3 weeks off. Maybe the
reason why there are more Europeans in the US National Parks is
that there are more Europeans than Americans on holiday at the
moment and they're making the most of of the USD-EUR exchange
rate.
two most recent subway incidents: one a real bombing, the
second in which the UK police slaughtered an innocent Brazillian
man mistargeted as a terrorist. Everybody went home on the tube
as usual
7/7 and 21/7 or 21/7 and the day after? I always think of 21/7
and the Demenez shooting as parts of the same incident (a failed
bombing attack soon after 7/7 that caused the police to go nuts).
While I didn't even get halfway to work before turning round
on 7/7, I wouldn't call the tube ride home on 7/21 as
"usual". It took awhile before it felt usual again.
Americans Vastly Outnumbered by Europeans in Our Own National Parks
I've just returned from two weeks of camping with my family in Sequoia / Kings Canyon, June Lakes, and Yosemite. It was a wonderful trip, but I couldn't help but notice that it seemed very much like camping in Europe, because we were literally surrounded by Europeans!
All were very nice, and we made some friends that we'll keep. But the numbers were alarming. A docent at California's Bodie (ghost town) State Historic Park told me that just over 1/4 of the cars proceeding down their 3-mile dirt road included Americans. This is dispite the fact that our poor economy has many Americans doing "stay-cations", trips to destinations within a single tank of gas from home. But Europeans still dominated the mix.
The Euro has almost doubled against the U.S. Dollar during the Bush administration (0.8252 USD per EUR on 26-October 2000, 1.5835 USD per EUR on July 11). The USA is thus "on sale" for European tourists this summer. Of course the increase in tourism will pump up our economy slightly, but the USA is not some Bahamian island that can be supported by tourism.
The converse is that it's about twice as expensive as it used to be for Americans to travel in Europe. Much of my work is there, and I generally don't buy anything overseas any more. While there, I eat from supermarkets and fast-food joints rather than good restaurants. I stay in the cheap places around London's Earls Court, and they cost over $100 USD per night.
I wonder how different things might have been if the U.S. didn't freak out after 9/11, cocooning ourselves in fear of terrorism and starting wars on two fronts that are bleeding our economy with no exit in sight. I was in London for the two most recent subway incidents: one a real bombing, the second in which the UK police slaughtered an innocent Brazillian man mistargeted as a terrorist. Everybody went home on the tube as usual after both those events and most importantly they didn't let terrorists make them live in terror. Of course, they'd had lots of practice with the Blitz, the Troubles, etc.
The Bush administration used 9/11 for its own purposes: they'd planned an Iraq invasion before taking office, and the Patriot Act, passed a mere 20 days after the September 11 event, must have been written beforehand. They took an economy that everybody knew was fragile with housing inflation, and added the straw of war spending to that camel's back while feeding their cronies from those same war funds.
We need a change from that. And whatever leadership we elect, their first job has to be to lead us not to live in fear.