$1.67

That’s how much one (1) euro cost me yesterday when I was converting currency with Chevy Chase Bank for an upcoming trip. You know things are bad when even the branch manager is surprised by the rate of exchange. The exchange rate is probably even worse today. Even if I took out the fees they charged, the exchange rate is probably 20-30 cents worse than it was when I first went to Europe in 2005.

It reminded me of economics classes in business school, and what we learned about what countries do to defend their currency.  The Fed is doing the opposite of those things right now, so between that and deficits our government runs, I expect the dollar to be worth less and less in the near term.