"Rising Dollar Lifts the US but Leads to Crisis Abroad"
I wrote about this a while back (see "If"
) but the situation has become so much worse that I thought it would be beneficial to comment on it again. As of this writing the rate sits at 1/1555, which means that if you need to send home $500 a month it will cost you over W800,000 depending on how you do it. This is not good. I have friends who have to send a lot more than that home and things for them are getting desperate. The rate has now collapsed to the point where one wonders where it will bottom out, or if it will.
Update: If you want the nuts and bolts of how this all works check out today's New York Times leader: