By If anyone is wondering, it doesn’t appear the Korean Won is going to be stabilizing anytime soon:
Predicting most worldwide foreign currency trends is, at best, an educated game of darts.
Predicting the Korean won’s value against the dollar in 2009 is more like trying to throw a bull’s-eye in a dark room while a bullet train speeds by outside.
On Nov. 24, the currency slipped to 1,512 won to $1, a 38 percent drop since Jan. 2.
Stars and Stripes spoke to several economists covering the exchange rates during the year, and none saw that coming. In a March 24 story, one economist saw the won’s drop to 982-to-1 as an excessive fall that would correct itself by the end of the year.
In the last days of the year, the won was at 1,306 per dollar, but most economists agree the value gyrations haven’t stopped.
“It has turned impossible to predict correctly in the foreign currency exchange market,” said Kim Young-san, of the Hana Institute of Finance. “However, it is very hard to expect the won to be stabilized in the first half of the next year.” [Stars & Stripes]
4:20 am on January 3rd, 2009 1
The Kkkoreans are not smart enough to control their exchange rate.
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6:45 am on January 3rd, 2009 2
Amerikkkans are not smart enough to make their country corrupted and bankrupt. Enjoy your spot in the sun for now, it’s not going to last soon.
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2:29 pm on January 3rd, 2009 3
What do you they “are not smart enough to make their country corrupted and not bankrupt” exactly?
Is that sarcasm? You’re an SNU grad aren’t you TOM TOM?
When I think of America’s spot in the sun, I often think about what Korea couldn’t do in 3ooo years that America did in 150 years.
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2:30 pm on January 3rd, 2009 4
What is, what do you mean they are…
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6:21 pm on January 3rd, 2009 5
Take it up with your new masters, the Chinese.
Face it, your country is the author of the biggest financial failure in history of the mankind due to greed and corruption. That Madoff guy alone ripped off more money than the entire GNP of 100 countries.
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7:06 pm on January 3rd, 2009 6
Korea has been everyones whipping boy for 1000 years. You adobted an American name “Tom”, maybe the U.S. is failing because so many Koreans like you have fled their pathetic country for the U.S. At least the U.S. is on top, Korea never has and never will be on top. You are just bitter because American men come over to Korea and steal your Women because your Women would rather be with a real man and not a man that lives with his mommy until he is 30. AT least change your name back to a Korean name if you are so proud of your occupied country.
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7:22 pm on January 3rd, 2009 7
Tom is absolutely correct in #5. We now reap what we sowed thanks to people like Madoff; he’s probably just the tip of the proverbial iceberg, no pun intended.
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7:51 pm on January 3rd, 2009 8
“…maybe the U.S. is failing because so many Koreans like you have fled their pathetic country for the U.S…”
I would say this would only be true if they took standard Korean “business practices” with them. Then we are all in trouble.
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8:00 pm on January 3rd, 2009 9
“You adobted an American name “Tom””
> Tom is not necessarily only an American name.
“maybe the U.S. is failing because so many Koreans like you have fled their pathetic country for the U.S.”
> Sorry, you’re wrong. I’m not in the U.S. I wouldn’t want to be there even if you paid me. And it’s funny but all those multi millionaire guys with Almani suits in handcuffs look like all white guys to me.
>At least the U.S. is on top,
Top of what? Top of foreign debt owing? Top of spending beyond your means? Top of China’s list of money borrowed? Be thankful that the Chinese are helping you guys out. US is broke, that’s an understatement. It won’t be long before all your fire sales are bought out by the Chinese.
Face it man, the only reason why you guys are not starving yet is because you guys are printing money like crazy. But we all know, you can’t be doing that forever. That’s all I’m saying.
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8:32 pm on January 3rd, 2009 10
Obviously you either changed your name or your parents imigrated, you are not even proud enough of your own country to keep your Korean name or your parents weren’t proud enough to stay in Korea. You don’t see any American changing his name to “chopstick”, do you? The only thing Korea has been good at in the last 1000 years is being occupied. Rather it is China, Russia or the U.S. on top one thing is for sure, Korea will never be more than barely over the top as a third world country. What can you expect from a country that always needs to be rescued from the grips of Japan?
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10:21 pm on January 3rd, 2009 11
Everyone has a moniker on the net. Even your own “On Top” is one.
Anyway, you’re silly. America will not have to worry about any kind of immigrants soon. Pretty soon, the way the US is going down the tube, nobody’s going to be wanting to immigrate to a screwed up third world country full of fat people with no jobs. US better not p*ss off the Chinese too much otherwise they will withdraw their help given to you.
Now go print more money.
Aww. you spent all your money on X-boxes and expensive costly wars.
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10:41 pm on January 3rd, 2009 12
When the US accepts the IMF, then I’ll give you one, Tom.
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11:21 pm on January 3rd, 2009 13
IMF is China, to the tune of over one Trillion dollar I owe you’s. What are talking about Laport? China now practically owns your country. You better do exactly what they tell you to do, or else they may cut you off.
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11:40 pm on January 3rd, 2009 14
I remember folks like you saying the same thing about Japan “owning the US” in the 80’s. How’d that work out? I’m still not speaking Japanese (not very well anyway). As much as you savor these doom and gloom scenarios for the US, don’t you realize if the US crashes and burns, many countries including China and especially Korea, go down the same tube. With that in mind, you might want to go out the pom-poms and lead the cheer for “Go America!”
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3:15 am on January 4th, 2009 15
There is some truth to what you are saying about America’s debt and moral bankruptcy, Tom. However, Leon’s right about the danger Korea would be in if the United States crashes and burns. You have China to the west, North Korean communist and Russians to the north, and the Japanese to the east. I hope that for the sake of all those living on the Korean peninsula the United States does not go down the tubes soon. Remember Tom, whether you like it or not, the United States is the only ally of the Republic of Korea. If there was or is another ally, it does not have the strength to keep your potential adversaries at bay. Lastly, your bitterness is eating you up, Tom. I’ll say it again: Hatred is bad for soul. And Tom, I am not the least bit offended by your harsh words toward my country. You need to think positive, Tom; love your neighbour as you love yourself. There are good people in the U.S. as there are good people in Korea.
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5:30 am on January 4th, 2009 16
I wouldn’t mind Korea crash and burn if it means I can watch arrogant fools constantly ragging on Koreans, eating their pies.
I hope the US crashes and burn.
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5:37 am on January 4th, 2009 17
Sorry you feel that way, Tom. Basically, you’re saying you would like to see the good perish with the bad. That is not the sign of a person with yangban character.
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6:34 am on January 4th, 2009 18
I’m a ssangnom
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8:09 am on January 4th, 2009 19
“It won’t be long before all your fire sales are bought out by the Chinese.”
US GDP = $14 trillion. China GDP = less than $4 trillion. China has to sell all its crap to the US because its people are too poor to afford it themselves.
I don’t understand why a Korean is boasting that China will defeat the US economically anyway. Most Chinese hate Korea. They would laugh at your pathetic vicarious nationalism, as do I.
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