Friday, May 28, 2004

The Cost Of U.S. Support

Almost every monthly report from brother Arrigo Corazza, the preacher we at Centreville support in Pisa, Italy, notes the havoc that the poor exchange rate for the U.S. dollar in Europe wreaks on his family's budget. Arrigo's wife, Patrizia, has been looking for full-time work for quite a while now to try to offset the decline in their budget caused by the poor exchange rate, and he also has received additional support from other churches and brethren this year to help address the situation.

What I did not know until Jeff and I talked to Masha the other day is that the rubles-per-dollar exchange rate also has declined substantially here in the past year. Tom, for instance, is receiving $100 a month more in support from the United States this year to offset support lost last year from other U.S. sources, but if I understood her correctly, the equivalent by the time the money is exchanged for rubles amounts to only a $30 increase. That's a big chunk of money.


Blogger Jeff Wilkes said...

The declining dollar abroad is more serious than it has been portrayed in the American news media. Our overspending seems to be one cause. If the dollar continues to be such a poor value overseas, our comfortable and materialistic US lives may have to change.

Some Christians believe that God will judge the godlessness going on in the US with economic as well as military or terrorist catastrophes. (Some also think there will be physical catastrophes such as earthquakes, floods, etc.) If history is any guide, economic problems will probably come to us in the US. That seemed to be a recurring problem for both Israel and Judah before their final captivities to Assyria and Babylon.

9:12 PM  

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