Posted on 03/18/2008 3:08:41 AM PDT by Dutchguy
“...except a lot of the products they’re buying — Gucci, Cartier, Armani — are made in Europe or Asia. Wacky world, no?”
I’m a Canadian, but from what I can tell from perusing prices online and such, so far the US consumer has been largely shielded against price increases in imported products. One assumes that this cannot be expected to continue indefinitely. Some big ticket items, like cars and SUVs made in Japan and Europe, are currently an absolute steal in the US compared to their prices elsewhere in the world (like Canada, for example). Of course, when these price increases due to the drop in the USD do start to filter through it should be good for some sectors of the US economy, but consumers are going to feel the pinch, too.
Funny, I was just saying to day I feel like we are on the precipice.
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