That is indeed interesting. I wonder how much of the Brit earning advantage is due to the dollar's slide. Americans keep calling for the Fed to lower interest rates even more and seem to be unaware of the fact that such low interest rates have caused a collapse of the dollar and made life much more expensive for Americans. Countries with the Euro as currency have not experienced anywhere near the appreciation in oil prices that the US has.
Leonardo | 01.07.08 - 4:23 pm | #