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Monday, October 29, 2007

Headline of the Day

posted by on October 29 at 16:41 PM

Dollar and oil hit new records

Dollar hits new low, oil hits new high. We. Are. Fucked. I’m thinking of sending farewell notes to my friends in the UK—I don’t think I’ll ever see them again at this rate.

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Assuming they make it through customs without being tased to death, they can not only visit you, they'll be endlessly, volubly amused by how cheap everything is. You'll probably get some free dinners out of it.

Posted by Nat | October 29, 2007 4:47 PM

And some smarty-pantses are saying that if the Federal Reserve cuts the rate again, as is widely expected they will do Wednesday, that tanks the buck in an even bigger hurry. Whee!

Posted by tomasyalba | October 29, 2007 5:09 PM

You know, they could visit you, on one of Branson's low-fuel biodiesel jets he's trying to develop.

And the new Boeing jets use about half as much fuel, so the only problem is the USD to EU discrepency.

Posted by Will in Seattle | October 29, 2007 5:13 PM

I'm looking forward to becoming a 3rd world nation.

Posted by Michigan Matt | October 29, 2007 5:16 PM

Oh, I get it now... those border fences are to keep people in when the dollar tanks, not keep them out.

Posted by Packratt | October 29, 2007 5:28 PM

What does the EU have to do with the UK?

We just went to England, and the prices are terrifying. Expect to pay luxury hotel prices to stay in hovels, and fine-dining prices to eat dogshit in greasy spoons or takeaways. Fifteen bucks for a fucking kebab, Jesus. There's always the sausage rolls at Sayers or Greggs if you have an iron stomach. But normally, just think of the kind of restaurants you like and double the price.

The beer's reasonable, though. Do what the Brits do -- skip eating, just have more beer.

Posted by Fnarf | October 29, 2007 5:47 PM

Of course oil and the dollar are related - oil is sold in dollars. To maintain their profits the oil producers need to charge more dollars. Lowering interest rates will only excerbate the problem. And it won't make a difference in the housing market. Brother can you spare a dime....

Posted by MrEd | October 29, 2007 8:03 PM

Even Vancouver - where I sometimes treated myself to a $500 Cdn/night luxury suite and not so long ago paid $325 US for it - is getting beyond means. That suite is $525 US now.

No doubt about it. I going to have to marry a Canadian - one with a condo in town, preferably west of Denman.

Posted by Bauhaus | October 29, 2007 10:02 PM

If we use less oil because central planners ration our flights and set our required gas milage and ban standby mode, that's cool and progressive. But if we use less oil because we are responding to market price signals, then we (period) are (period) fucked (period)? Have I got that right, Dan?

Posted by David Wright | October 30, 2007 12:36 AM

Hey Fnarf

Can't help wondering where in the UK you went ??

But at least we don't put crappy plastic "cheese" on everything.

Posted by Boz | October 30, 2007 1:21 AM

Well Dan, it's time to come to Canada. Hey, how about Alberta. You would have the relatively strong Canuck buck and lots of oil. I hear it's really enlightened there too.

Ha, just kidding!

Actually Alberta bashing was a national pass time before prairie oil production put the national economy into overdrive. It's far less fashionable now. Even the venerable CBC made a huge - and unseemly - change in it's attitude to the west.

Posted by saxfanatic | October 30, 2007 8:22 AM

@10: Oh, don't you be hatin' on our delicious Velveeta.

Posted by Greg | October 30, 2007 1:07 PM

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