The British Take An Economic Win

{ January 10th, 2008 }

British Pound Sterling

And it’s probably a good thing, given the perceived arrogance of our nation internationally these days. Either way, for the first time since the 19th century the United Kingdom is going to surpass the United States in the standard of living. Much of this is due to the value of the British pound with respect to the American dollar. As of January 10, 2008:

1 British pound = 1.9655 U.S. dollars

It is also do to the reality that in the United States average incomes have remained largely stagnant since the 1970’s. That is approaching 40 years of income stagnation. Remarkable that we have enjoyed the prosperity we have given this reality.

The Canadian dollar has also been competing very well with the American dollar as of late:

1 Canadian dollar = 0.994332 U.S. dollars

As has the Canadian standard of living. Which is probably why you are beginning to see a reversal of business investment with Canadian businesses taking advantage of bargains south of the border.

Then, of course, there’s the Euro (which is actually lower vs. the dollar than it has been in a while):

1 Euro = 1.4697 U.S. dollars

Euro vs. Dollar

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