http://news.com.com/2010-1028-5151278.html The shrinking currency of technology February 2, 2004, 4:00 AM PT By Declan McCullagh For the moment, U.S. technology companies have reason to celebrate a dollar that has been declining gradually but steadily in value. Between January and December 2003, the dollar fell 20 percent against the euro. Thanks to the sliding greenback, Amazon reported a jump in quarterly revenue last week that helped make 2003 the company's first profitable year ever. Microsoft, IBM and Cisco Systems have also recently attributed increased sales to the weaker dollar. But what about the longer-term effects? For a glimpse, look to Washington, D.C., where President Bush on Monday will release his proposed budget for the federal government's 2005 fiscal year. It's expected to project a record deficit of $521 billion, up from $375 billion for 2004. ... _______________________________________________ Politech mailing list Archived at http://www.politechbot.com/ Moderated by Declan McCullagh (http://www.mccullagh.org/)
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