July 30, 2008
US economy having hard time now
With the US economy have a hard time now jobs are harder to find and money is tight for many people. The gas prices have really hurt everybody in all fields. We think this is going to take time for things to straighten out.
If you have looked at the USD it has gone down for many years now when we compare it to the Chinese Yuan. Here is a graph showing the average for this year 2008 1 USD to the Chinese Yuan.
| January |
| 7.24289 CNY (23 days average) |
| February |
| 7.16392 CNY (20 days average) |
| March |
| 7.07224 CNY (21 days average) |
| April |
| 6.99969 CNY (22 days average) |
| May |
| 6.97107 CNY (22 days average) |
| June |
| 6.89933 CNY (21 days average) |
| July |
| 6.83658 CNY (21 days average) |
As you can see it seems to just keep going down if you compare it to the Chinese Yuan. Most of the products in the United States are made in China so seeing our dollar dropping so badly is very bad news for us. Prices will continue to go up.
One business sector that seems to be doing well is the low priced sunglasses. When the economy is slowing down people look for ways to save money. People always need sunglasses so to save on costs they by discount sunglasses instead of brand name ones that can cost hundreds.
Filed under Slow Economy by Discount Sunglasses
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