Dollar at record low against euro--US economy grew at its weakest pace for four years

[rodeodance]

http://news.bbc.co.uk/2/hi/business/6599997.stm

Dollar at record low against euro
US housing construction
A housing market slowdown weighed on growth
The US economy grew at its weakest pace for four years during the first quarter of 2007, figures from the US Commerce Department show.

The news pushed the dollar to record lows of $1.3667 against the euro.

US gross domestic product (GDP) grew at an annual rate of just 1.3% in the first three months of the year, down from 2.5% in the previous quarter.

Separately, the University of Michigan consumer sentiment index also fell, but not as much as had been feared.

[HockeyMom]

1. Have gas prices been factored in?

Gas here just went up 8 cents in one day. At this rate, it will be over $4.00 by Memorial Day and $5.00 by July 4th if it continues like this.

This has to lead to increased inflation, raising the costs of shipping on all consumer goods, which will be passed down to the consumer as increased prices on everything from food to TVs.

I don't even want to talk about all my "fuel surcharges" tacked on to my utility costs.

[CountAllVotes]

3. it was at $3.89 for supreme the other day

God only knows what it is now. I hate to brag, but I drive very little fortunately so I use little gasoline.

I have many other less than desirable aspects to my life however. :evilfrown:

:kick:

[HockeyMom]

4. Same here

I transferred at work to within one mile of my house. I actually even think before driving now. Do I really NEED to go there and use up my gas? Horrible way to live. It is getting so I almost never leave my home unless I have to go to work.

[CountAllVotes]

6. yes, I'm in the same situation myself

I rarely drive and I'm beginning to wonder if keeping a car is even worth it. If I sold the car, no more insurance to pay, no more emergency roadside service needed, no more gasoline needed, no more worries about the car itself and any repairs that might be needed, and oh yeah, the price of the tags every year is outrageous (like $150.00 for a 2001 Honda Accord 4-cylinder). It only has 15,000 miles on it because I really don't drive much obviously. Should I dump the car? I really could use the money and the space in the garage (no joke, the house I live in is very small. The car is worth quite a bit and is in perfect condition and gets 30+ MPG on long trips.

However, I hate the idea of giving up driving. It is the only freedom I feel I have left and this is the nicest car I've ever owned in my entire life and I've been driving for over 35 years now, no accidents or anything and yet still, I pay through the nose for all of the above mentioned, including gasoline, now at $3.50+ a gallon!

:eyes:

[whistle]

2. Bush's war driven economy is creating an economic meltdown

[lefador]

5. If you think about it, 6+ yrs ago...

... the Euro was 85 cents to the dollar. It means that our money is worth at least 40% less.