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Idiotic straight extrapolation -- If CZK300,000 went from $12,000 to $16,359 in five months, in a year it would go to $22,461, which is a rate of increase for CZK/decrease for dollar of 87%. I think.
But the Canandian dollar has only gone to $1.10, which is what? I forget how much the Canadian dollar was earlier this year. But not more than a third less than it is now, surely?
Maybe what we ought to do next year is go ahead and borrow the full amount of his expected expenses for the rest of the time, turn them into CZK, and have him pay us with his loans -- to pay off our loans, which won't wait until he is finished -- while paying his fees from his stored CZK. Which he'll have to turn into Euros at some point. Next year?
Does anybody think the dollar will rally especially in the next six years?
Does anybody know anything about money?
But the Canandian dollar has only gone to $1.10, which is what? I forget how much the Canadian dollar was earlier this year. But not more than a third less than it is now, surely?
Maybe what we ought to do next year is go ahead and borrow the full amount of his expected expenses for the rest of the time, turn them into CZK, and have him pay us with his loans -- to pay off our loans, which won't wait until he is finished -- while paying his fees from his stored CZK. Which he'll have to turn into Euros at some point. Next year?
Does anybody think the dollar will rally especially in the next six years?
Does anybody know anything about money?
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There are analysts who think that America and Europe are doing the same sort of wrong things with a few years of separation between them, that doom has come due for America this year and will come for Europe in a couple of years, so now isn't far from as bad as it gets, but this is by no means universal.
On 1 January 2007, one dollar would buy you (http://www.oanda.com) 116 Canadian cents or 20.91 CZK.
On 7 November 2007, one dollar buys you 93 Canadian cents or 18.54 CZK. On 7 July 2007, five months ago, one dollar bought you 105 Canadian cents or 21.04 CZK; so 300,000CZK has never as little as $12000 this year. The least it's been this year is $13725, on 28 January; the most it's been is $16179, today. The last time it was $12000 was 10th November 2005.
[this is assuming that you can convert money without paying a premium; you're being charged about 1% for converting the money into CZKs, but I suspect you'd have been charged the same whatever the exchange rate]
The Czech Republic is not immune to the kind of trouble hitting America, though, since it doesn't host very many very large financial institutions, it's immune to the first-order effects of purely financial panic.
It has the same class of house-price trouble, though to a lesser extent; it's an EU member, which means that people from the EU can buy property there, and there's a certain kind of rich British person who believes that the intrinsic value of a house is at least $200,000 and therefore that he should devote most of his spare money to buying houses in Prague when the Czechs are selling them for $50,000; this means it's pretty hard for an average Czech to buy a house in Prague.
It has mining and manufacturing; being a former-communist country, it has salaries for doctors which are extremely low by American standards and not high by local standards - 'doctor' is a prestigious but poorly-paid public-service job, like 'teacher'.