Who Would Have Thought...?

For as long as I remember, popular wisdom, financial wisdom, was that if you wanted financial security, you'd keep your money in America, in dollars. Those of us living and working in Israel, were always jealous of those who lived on American salaries.

Not any more!!

For the past couple of years, the humble Israeli Shekel has been much stronger than the dollar. And even more amazing, considering our security situation, unreliable government and corrupt politicians our financial situation is far better than the American.

Here are some links from the New York Times.

- BUSINESS -

U.S. Futures Contracts Fall With the Dollar
By KEITH BRADSHER
The dollar fell sharply against major currencies in
Singapore, while futures contracts on American stocks
nosed-dived.
..................
Big Insurer Seeks Cash as Portfolio Plummets
By MICHAEL J. de la MERCED and GRETCHEN MORGENSON
A.I.G., the insurance giant, is seeking a bridge loan from
the Federal Reserve as it faces a potential downgrade.
..................
Federal Reserve Offers No Cash but Loosens Standards on
Emergency Loans
By EDMUND L. ANDREWS
The Fed said it would let Wall Street firms post as
collateral much riskier assets in exchange for emergency
loans through the Primary Dealer Credit Facility.
..................
More Business News