In some ways a more favorable exchange rate helps us - at least in the short term - to stretch the dollar even further. Unfortunately this can only serve to increase the already devastatingly high inflation in Ukraine - already pushing 30%. Over time, it will only serve to create greater need, more demand for our already-limited resources and exacerbate the destructive social problems that we are trying to combat. I hate to say it but I think Ukraine is rapidly heading in the wrong direction for the benefit of its people.
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Crazy how bad others have it - we complain too much.
ReplyDeleteAnyone who doesn't believe you that inflation destroys society need just look at Zimbabwe -- last I checked, their inflation rate was over 1,000,000%.
ReplyDeleteI sincerely hope that the Ukranian leaders work for the benefit of the people to curb things before they spiral out of control.
Kevin is right, we complain about way too dang much here.