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ECB leaves rate unchanged

August 7th, 2008 · 1 Comment

In yet another reason that your dollars will soon be worth a tulip bulb.

The ECB keeps the rate at 4.25% this means that the US with its cheap central bank rate, will continue to have a devalued currency compared to Europe and Asia, and that means that everything that we Americans have become so used to will continue to be expensive, this may have the heaviest impact on food producers like General Mills (GIS)

11-10-2005_trix ECB leaves rate unchanged

Yes, the commodities cost is killing the producers, its taking them straight into reducing box sizes and thinking were not noticeing. As far as im concerned, until a central bank breaks (and one somewhere will), we should all watch where our money is going, because everythings gonna fail at this rate.

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1 response so far ↓

  • 1 FX // Aug 7, 2008 at 10:56 am

    you haven’t done much reading on foreign exchange or economics in general at seton hall have you?

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