61–70 of 79 posts
The relative ranking of the US has changed drastically within the past decade. I wonder why. It seems like many factors that we blame for rising costs - inflation, supply-chain issues - would affect other countries as well.
Why would American inflation affect countries that don't use the USD?
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Why would American inflation affect countries that don't use the USD?
Given that it’s the world reserve currency I don’t think there is anyone that doesn’t use USD at least indirectly. Eg usd denominated oil purchases
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Given that it’s the world reserve currency I don’t think there is anyone that doesn’t use USD at least indirectly. Eg usd denominated oil purchases
If you just purchase some USD on the open market when you need them, and then immediately spend them, you don't really care about what happens to the long running price level of the USD.
In practice that’s often not the case. Long term contracts, futures, FDI commitments, etc is all USD bound over time.
Hell even the shtty VPS I bought from Eastern Europe is a recurring fixed USD per year so they’re carrying the US inflation effect as margin squeeze (and I fully expect them to renege on that at some point)
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Why is that? What’s been happening on the ground?
1 USD = 156 JPY For years it has been 1 USD = 110 JPY. Japan is also overrun by tourists right now.
Australia should be #1. it is bonkers here right now. US is expensive than AU? hell no.
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The US is not the only country who has experienced high inflation since COVID.
From my experience it's become relatively more expensive than other countries even if every country has experienced inflation to a small or large extent. The joke used to be how expensive Switzerland was...now I am looking at prices in Zurich for food, drinks, hotels and it's no different than what you'd pay in a big city in the US, maybe less.
Groceries are about the same with the exception of beef which literally seems like it’s 2-3x us prices.
I think rent in Switzerland is way cheaper both in absolute terms and the value you get for your money. The housing stock is much better quality than the Bay Area. Having good public transit also makes it easier to live in a wider variety of places too.
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1 USD = 156 JPY For years it has been 1 USD = 110 JPY. Japan is also overrun by tourists right now.
Exchange rate doesn’t mean anything if the prices adjust for it. Have they not had any price changes following the devaluation of their currency?
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Exchange rate doesn’t mean anything if the prices adjust for it. Have they not had any price changes following the devaluation of their currency?
Anecdotally I was in country not too long ago and the exchange rate meant fantastic dining was around the same cost as some fast food in the US.
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From my experience it's become relatively more expensive than other countries even if every country has experienced inflation to a small or large extent. The joke used to be how expensive Switzerland was...now I am looking at prices in Zurich for food, drinks, hotels and it's no different than what you'd pay in a big city in the US, maybe less.
I don’t agree. I live in the Bay Area and eating out is noticeably more expensive in Zurich than here. I find that you’re not going to get away for less than 60-70 francs for dinner for two pretty much anywhere in Zurich. Sure, there are many places you can pay that much in the bay, but you can also eat for much cheaper. Even outside the cities it’s insane. We went to a regular looking Indian restaurant 40km outside…
and you can't compare in-n-out to a sit down place.
an average casual ramen place is like $22 a bowl now here. add an egg (yes, they don't include it anymore) and it's $25. then add one drink or something and you're at $30. Then tax is $33 and tip is another $6-7. That's $40 for a ramen and a drink.
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From my experience it's become relatively more expensive than other countries even if every country has experienced inflation to a small or large extent. The joke used to be how expensive Switzerland was...now I am looking at prices in Zurich for food, drinks, hotels and it's no different than what you'd pay in a big city in the US, maybe less.
In 2007 before I left Lausanne, a Big Mac meal, was 10.5 CHF, that was maybe $8, this was before CHF hit parity with USD. Now it is 16 CHF, and CHF is now 10% more dear than USD, so I would say it has risen quite a bit? Even if not as much as a Big Mac meal did in the states (from I think $5 to $13). A better indicator would be Kebob prices, but I just don’t remember those.