Being here in Korea, it’s difficult, if not impossible to gauge the impact of the falling dollar. All of my assets are in Korean Won. The price of goods here hasn’t changed much since I first came here in 2004. Even gas is still roughly $5.5-$6 a gallon, although it was less than $2 a gallon back in the US in 2004 and is over $3 now.  (That’s a 50% rise in cost, but the US Government doesn’t include fuel in its inflation calculations.) In Korea, gasoline, although not cheap, has, along with so many other goods remained steady. I have yet to see any semblance of inflation.

The dollar has fallen to new lows recently. The exchange rate as of 10/26/2007  had it at 908 Won to the dollar – a 25% drop from 1180 or so back in 2004.  Just this week its dropped significantly. Do your dollars buy less in America? Have you noticed a change in the price of foreign goods?  Are you worried that your savings may dwindle to nothing because the dollar buys less?

For me, the problem is not a problem. As the dollar goes down, my net worth goes up. That’s only if I convert my Won to Dollars when I return. But for my own personal economics, I hope it goes down even more.  Sorry.

But hurry, send me your dollars now. I’ll convert them to Won and save them for a few months. When the dollar continues to slide, I’ll send them back, worth more dollars than when you sent them here (minus my fees, of course.)
But wait! There’s more! Call now, and I’ll  throw in a set of Ginsu knives! Operators are standing by!