I hope he tells us to burn our pants!

These things are driving me nuts. Indeed if you’re in America, you may slowly be coming to learn of an alarming development that has been bugging/enriching me for a few years. The dollar is depreciating like crazy. When I came to Korea in 2003 the exchange rate was 1,200 won to the dollar. The average salary for a young mush-brained recent college graduate teaching English was 2,000,000 won, or about $1666 a month. At the beginning of 2006, the rate had fallen to 950 won to the dollar, making the same 2,000,000 won salary worth $2,105. Think about that, that’s $500 of free money for the young English teacher to spend on cheap cigarettes, camera-phones and Karlsberg beer.. In the last week or so the exchange rate story has finally started to get some press in the U.S., as if it’s some sort of new story, and that has driven the rate ever downward. On Monday the rate was 930 won/$, and as of this morning, it is a shocking 923 won/$.
My wife Miyoung and I have been so happy about the exchange rate that we’ve been taking some of our savings and exchanging it every time the rate hit a new low. We’ve run out of available money to exchange.
If the exchange rate continues to fall at this rate, our move to the U.S. will be very similar to our honeymoon in Thailand. I’ll be taking limousines to and from school and Miyoung will be at her wits end trying to wrangle the four maids we’ll be legally obligated to hire when we rent our four-bedroom house downtown. We’ll probably even have to hire on the former tenant of the house, an advertising executive, as my driver after his job is outsourced to India.
Imagine all the headaches that’ll cause.

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~ by Joshing on December 2, 2006.

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