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It's pretty well crashed as it is lol. I remember when the euro was introduced, it got depreciated to shit, you could barely buy two dollars for three euros at some point. Ten years later, you're lucky if you find two euros willing to change for three dollars.
And I'd say the standards of living on either side of the Atlantic pretty well reflect that. It's not as striking as it could be, because the US population has softened somewhat the blow by using consumer debt, and the EU population includes a good 25M ex-east germans, + 50M poles, 25M romanians etc etc that shot up maybe 3-500% in those ten years, thus somewhat dampening the overall effect.
But if you travel over the Atlantic a lot and have for a while, it's quite visible how the europeans are ahead by about as much as the americans used to be.
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