Trouble with the Euro

Current exchange rate:

1.00 USD

=

0.734293 EUR

Europe thought that by creating a universal monitary exchange they could avoid falling into a recession. Well that just isn't the case any more. The Euro is at an all time low against the dollar (see above exchange rate). Most of this is due to the debt that nations like (PIIGS) Porturgal, Italy, Ireland, Greece and Spain, that hold a large debt.

Do a little research for yourself and post at least 3 sentences about this topic. Some possible questions to answer would be:

• How does this effect the US economy?
• Will this effect the Dominican Republic?
• Will the EU keep using the Euro?
• Should the world adopt a universal currency?
• What are the pros and cons of a universal currency?

Fun Post!

For this weeks post… to lighten the mood a little… let’s make it fun!

1st- post your favorite place to get updated about the news. Whether it’s a website, newspaper, TV show, radio program, whatever, simply post the source and it if has a link include that as well

2nd- comment about the Olympics. Are you watching it? What is your favorite winter sport?

Have fun with this one! See my example comment below.

And a photo of my cat- FRAN- just to make you smile :)

Greed?

Was having the Super Bowl 2010 greedy for Americans? What else could they have done with the money? Should they have done something else with the money they spent on Advertizing, playing players and coachs, etc.
On the other hand- how much money did the Super Bowl provide for the economy?

Task for this weeks blog...
* Find an article that relates to the Super Bowl and the economic side
* Post the link in the blog
* Make a comment about your article

(could kill 2 birds with one stone here- use your article you find on the Super Bowl as your Economic News Journal article)

Budget Deficit

In its budget proposal to be released on Monday, the White House predicts a record $1.6 trillion budget deficit for the fiscal year that ends September 30, the Capitol Hill source said.

According to the estimate, deficits will narrow to $700 billion by fiscal 2013 before gradually rising back to $1.0 trillion by the end of the decade, the source said.

President Barack Obama will seek to strike a balance between reducing the deficit over the long term and stimulating the economy in the short term to ease the pain of double-digit unemployment.

SOURCE

V’s thoughts:

• The US Federal Government doesn’t have to have a balanced budget. I think they should. I’m not allowed to spend more than I have for extended periods of time, neither should they.
• Eventually someone is going to have to pay this off… I don’t want my kids to be stuck with it. So let’s get it under control now!
• There will always be something else we NEED to spend money on~ we have to put a limit to it somewhere.

What are your thoughts? Comment on this or comment on someone else's comment. All comments must be legitimate and based on Economics in order to get credit for the week.