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February 27th, 2008
09:19 PM ET

Erica’s News Note: The money’s drying up!

The euro has finally made it past the $1.50 mark, and I’m not too happy about it. Sure, it’s great news for my sister who lives in France and is paid in euros. Not so stellar for the rest of the family on this side of the pond. I remember back in the days of the French franc when the tables were turned; during one visit, it was something absurd like 6+FF to the dollar. Ahhh, the salad days…

Add the euro news to ever-rising gas prices ($4 this summer, eh? Kids, we’re going on a picnic for vacation, and we’re walking there; it’s in the backyard), the drop in home sales (anyone in the market for a great loft in Atlanta?), and those depressing holiday sales numbers and you’ve got a nasty economic combo. I always try to focus on the positive, but it’s tough with this one. I can only hope that we – and I mean all of us as a country – learn that living within our means (read: not on credit or home equity loans) isn’t the worst way to be. Trust me, I’ve got some work to do on my end. 

Fed Chief Ben Bernanke didn’t make things sound much better today on Capitol Hill; he, too, is concerned. Beef up on his take here:

And speaking of cutting back… the drought in Georgia is getting some more ink. Remember, I just left Atlanta (that loft is still available), where at one point last fall it seemed like the world was 90 days from ending. We were told we were on the verge of running out of H2O. Turns out, the situation is bad, but wasn’t quite the doomsday scenario it originally seemed to be.

Fast forward to today, and a little “wet kiss” from the mayor of Chatanooga, TN: 2,000 bottles of water delivered to Georgia lawmakers. Last week, those same Georgia lawmakers passed a resolution stating a survey done nearly 200 years ago mistakenly put Georgia’s northern line just shy of the Tennessee River. They want the map redrawn, which would give Georgia access to said river, and lots of the wet stuff. You can bet the Tennesseeans aren’t exactly volunteering to comply… But, hey, they did bring Georgians a little refreshment to tide them over. 

If the water delivery can’t bring everyone together, maybe our favorite dancing prisoners can.  They’re back in tonight’s Shot, with some new moves you won’t want to miss. See you at 10!

-Erica Hill, 360° Correspondent


Filed under: Economy • Erica Hill • Housing Market
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