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Weak Dollar Affects the Film Industry
I always love it when Main Street wakes up to the importance of exchange rates. According to the New York City Film Commissioner, there has been a
36 percent increase in movies made in New York since 2002. Tax
incentives and a favorable exchange rate has made filming movies in the
US far more attractive. Over the past year, the US dollar has fallen more than 14 percent
against the Euro and Japanese Yen, 13 percent against the Australian
dollar and 10 percent against the Canadian dollar. This makes it
increasingly more expensive for US filmmakers to shoot abroad and
cheaper for foreign filmmakers to shoot in the US. One director even said that by filming his movie in New York, he saved $500k off of what would have been a $5 million budget had he filmed in Canada. This trend of filming in NY should continue as NY State Governor
David Paterson recently increased the state tax credit from 10 to 30
percent. by Kathy Lien (Kathy Lien) Disclaimer: Please note that charts and commentary provided by the moderator are for educational purposes only. Any trades placed upon reliance on the moderator’s charts or information is taken at your own risk for your own account. Past performance is no guarantee of future results. While there is great potential for reward trading stocks, futures and options, there is also substantial risk of loss and you must decide your own suitability to trade. Future trading results can never be guaranteed. This is not an offer to buy or sell stock, futures, options or commodity interests. Most trading systems are based on historical formulas which have worked in the past. However, what has happened before may or may not happen again. You can lose all your money trading stocks, futures, and options and you must decide your own suitability as to whether or not to trade. Only trade with true risk capital you can afford to lose. Only trade markets you can properly afford to trade. Properly funded trading accounts typically perform better than those that are not. Never risk more than 2-3% of your account on any one trade. Always define your risk before entering a trade and place a stop to limit your risk. There are no guarantees or certainties in trading. Trading involves hard work, risk, discipline and the ability to follow rules and trade through any tough periods during a system’s draw downs. If you are looking for a guarantee, trading is probably not for you. Most people lose money trading. One of the reasons is that they lack discipline and are unable to be consistent. A system can help you become consistent. Ironically, worrying about the monetary aspect of trading can contribute to and cause a trader to make trading errors. Therefore, it is important to only trade with true risk capital. |
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