Ouch

A surging dollar is great if you’re a consumer. But if you’ve recently moved back to the United States from the UK and still hold most of your assets/get paid in Sterling, it’s… not so great. I just realized that in the last six weeks, the tumbling GBP (against the USD) has wiped out about 8% of my savings. Ouch.

Ironically, after studying the Politics of Money in the World Economy for an entire year, I’ve broken one of the major rules of international finance: wherever possible, match the currency of your assets with that of your liabilities. Now who said grad school was a waste of time?

(Photo by Tracy Olson)