T/F?
- Posted by Paul Gowder on January 12th, 2010 filed in consumer rage, doom
- 2 Comments »
The level of decline of a territory is inversely proportional to the number of businesses in that territory willing to sell foreign currency at or near market rates to the general public.
January 13th, 2010 at 8:28 am
So ‘more sales at market rates’ = ‘more decline’? False.
It’s when the foreign currency is being hoarded and is practically unavailable to the general public that the really panic-inducing level of decline has set in.
And I just don’t accept that the average tourist-central neighborhood in a place that attracts a lot of foreign visitors is necessarily in a greater state of decline than the equivalent tourist-central neighborhood that attracts primarily domestic visitors, or that a tourist-friendly city in a small country with a big wealthy neighbor is in a worse state than a tourist-friendly city within the big wealthy country itself.
January 13th, 2010 at 9:00 am
Hah, I added an extra negative, naturally. Meant to say that unavailabilty of foreign currency = decline. This may have been mangled by rage against various local non-currency-having businesses. All as usual in my world, that is.