There was a financial milestone today involving everyone’s wallet or pocketbook. For the first time in 31 years, one US dollar was worth exactly the same as one Canadian dollar. The US dollar also fell to a new low against the Euro, but what does that mean? How does it impact each of us? Betsy Stark takes a closer look.
As any American who has traveled recently in Europe can tell you, a US dollar just doesn’t buy what it used to. Since the beginning of last year, the greenback is down 18 percent against the Euro, making everything from a bus tour in London to a gourmet meal in Paris more expensive.
But it’s not just tourists who are feeling the downside of the dollar’s drop. -- If you are a consumer, it means that the price of imported goods is likely to go up. French wine, Italian olive oil, Japanese televisions have all gotten pricier for Americans.
The falling dollar is also behind the skyrocketing price of oil. But there are some silver linings to a sliding dollar. Jim Natz, who owns a company that makes wire fencing just outside Wooster, Massachusetts, says every drop in the dollar makes his fencing cheaper than his overseas competitors. -- Thank goodness the dollar's falling, ‘cause that makes manufacturing facilities in the United States more competitive.
A Weaker Dollar
Good for small companies like Natz, and also good for big companies. A falling dollar gives Boeing an edge over its European competitor Airbus, and Caterpillar a leg up on its Asian rival Komatsu. -- Exporters are…are very um… greatly benefited by a falling dollar. Their um… products become cheaper on foreign markets uh… as the dollar falls. American exports are hot, and they’re one of the bright spots in the American economy. Good news for Americans who work for companies that sell those products, and good news for Americans who invest in them.
-- At the current moment, a weaker dollar is helpful to American industry and will help to avoid a recession. The falling dollar could become too much of agood thing if it falls too far or too fast. The really big fear is that the Asians and Europeans who invest so heavily in US markets will decide they can do better investing somewhere else. If, and it’s a big if, they sold their US investments on mass, you can imagine that would be a big hit to the US economy, Charlie. All right. Betsy Stark, with our closer look tonight. Thanks.
※ edge : 가장자리 * on edge : nervous and unable to relax because you are worried ex. Is something wrong? You seem a bit on edge this morning. * on a razor edge : in a very uncertain and dangerous situation ex. Allegations of fraud have put the minister's career on a razor edge. * on the edge of your seat/chair : very excited and interested in something because you want to know what happens next * take the edge off something : ( 날을 ) 무디게 하다 / to make a strong feeling less strong ex. Aspirin will usually take the edge off the pain. ex. His apology took the edge off her anger. * on the edge of something : nearly in a particular state or condition ex. He is on the edge of Hollywood success.
milestone : 이정표 , ( 역사 인생 등의 ) 중대 시점 , 획기적인 사건 (an event or achievement that marks an important stage in a process) * a milestone in medical history 의학사에 있어서 획기적인 사건 * pass a milestone / reach a milestone pocketbook : 지갑 (wallet), ( 어깨끈이 없는 여성용 ) 핸드백 , 자금, 재력 (an amount of money you have) low : 낮은 것 , 최저 수준 [ 기록 , 숫자 ], 최저 가격 (opp. high : 최고 수 준 , 최고 기록 ) * a record high[low] 사상 최고치 [ 최저치 ] (= an all-time high [low] ) * a 46-year high[low] : 46 년만의 최고치 [ 최저치 ] * an all-time high [low] of~ = a record high [low] of~ ex. The teen pregnancy rate fell 19 percent from its high in 1991 to a record low of 94.3 pregnancies per 1000 women ages 15-19 in 1997. buy : < 의견 등을 > 받아들이다 (accept), 믿다 (believe), ( 대가 . 희생을 치루고 ) 획득하다, ~ 의 값어치가 있다 ex. I won't buy his argument. 그의 주장을 받아들이지 않겠다 . ex. The victory was dearly bought. 그 승리에는 값비싼 희생이 따랐다 / ex. He wanted to buy love with gifts. ex. What will we have to do to buy her silence (= to make her not tell anyone what she knows)? ex. success bought at the expense of happiness. * buy time 시간을 벌다 ex. He kept on talking in order to buy time. greenback :< 미속어 > 달러 지폐 (( 미국 정부 발행의 법정 지폐 ; 뒷면이 녹색인 데서 유래 )) gourmet : 식도락가, 미식가, 미식가의, 미식가를 위한 요리용의(Gourmet food is nicer or more unusual or sophisticated than ordinary food, and is often more expensive.) downside : 아래쪽 , ( 그래프 등의 ) 하강 부분 , 불리한 [ 부정적인 ] 면 , 아래쪽의 , 하강의 / the disadvantage or negative aspect of something (opposite UPSIDE) pricey : (값)비싼 skyrocket : 하늘로 솟아 오르다 , < 물가가 > 급등하다 , 급등시키다 silver lining : 구름의 흰 가장자리, 밝은 희망[전망] ex. Every cloud has a silver lining. wire fencing : 와이어펜스, 철사 울 타리 * barbed wire fencing 가시철사 울타리 * (barbed) wire entanglements (가시)철조망 competitive : 경쟁의 , 경 쟁적인 , 경쟁에 의한 , < 제품가격이 > 경쟁력있는 ex. competitive edge 경쟁력 , 경쟁적 우위 / ex. We offer a wide range of goods at very competitive prices. ex. a highly competitive society 고도의 경쟁 사회 ex. I'm a very competitive person and I was determined not be beaten. edge : ( …에 대한 ) 우위 , 우세 (advantage), 강점 [메모 참고] ex. a decisive military edge over the enemies 적에 대한 결정적인 군사 적 우위 * leading edge : ( 문화적 기술적 진보에서의 ) 지도적인 위치 , 지도자 ex. I think Israel tends to be at the leading edge of technological development. * competitive edge 경쟁력 / * cutting edge : 최선두 , 최첨단 Caterpillar : (c- ) 나비 ·나방의 애벌레,무한궤도식 트랙터,《상표명》캐터필러, 무한궤도 장치 leg up : (승마에서) 발을 받치고 들어 올려 주기, 도움, 후원, 우위, 유리 bright spot : something that is good when everything else seems bad ex. The one bright spot is that they have promised to re-examine the case. 다행스러운 점은 그들이 그 사건을 재심하겠다는 약속을 했다는 것이다. too much of agood thing : 좋지만 도가 지나친 것, 좋지만 도가 지나쳐서 싫은 것 ex. You can have too much of a good thing. 아무리 좋은 것이라도 지나치면 싫증 날 수가 있다. do better : 더 잘 하다, (여러가지 면에서)더 좋다 ex. I can do better than you think. 나는 네가 생각하는 것 보다 더 잘 할 수 있다. ex. You would do better working for the company. 당신은 그 회사에서 일하는 것이 더 나을 것이다. ex. This kid would do better being homeschooled. 이 아이는 집에서 교육시키면 더 나을 것이다. on mass : in a large amount
Which of the following is NOT a downside of the falling dollar?