Wednesday, October 8, 2008

Economic "Butterfly Effect"

So the won has lost almost 40% of its value against the dollar. It's good for us, because we can buy more (if we want to do that sort of thing), but I just feel horrible for the people here. They're already paying $5 a gallon for gas around here. At least we can get gas cheaper, but wow. How do they survive on this? I guess their economy has tanked before, but there's no way to take a picture of it. I guess we just trade in a bunch of dollars for won and take advantage of the situation. You learn to keep an eye on the won around here so you don't get soaked when it drops.
The Japanese index lost 10% of its value KOSPI lost 5%. This is a really turbulent part of the world for economics anyway, but with our self-inflicted gunshot wound to the wallet isn't going to help them. So who gets hurt when our problems reach across the world? These people. And the Japanese and the Chinese, etc. I guess if the won hits 1400 or 1500, I'll buy a lot more of it. It makes the rent cheaper because the military isn't silly, they adjust our housing on that same scale.

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