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Dollar Down = Prices UP PDF Print E-mail
Written by Hank Castello   
Wednesday, 07 July 2004

 

The Federal Reserve has announced another rate cut at its policy meeting today - another quarter percent. This and the ensuing stock sell-off could send the already sagging dollar into another nose-dive that will soon impact prices of foreign goods.

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Chart courtesy of fa-mag.com
What does this mean to wedding videographers? Well, how many of us are shooting with U.S.-made cameras? Just about every piece of gear we use (and we use a ton of it) is foreign-made. Seven years ago, when I lived in Canada, it took about $1.60 Cdn to buy a USD. Today, according to xrates.com, the dollar is on an even keel with the Loon, meaning we've already lost forty percent of our purchasing power. When you're looking at upgrading to hi-def cameras costing $3,000 and up, that's a hunk of change!  Notice the drop from 2000 to present time.
 
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