A sunnier Euro summer

No surprise, fewer Americans seem to be venturing to Europe on summer vacations. The euro's advance against the anemic dollar on top of the "crisis" (our economic ills) as they call it over there keep more of us at home. But on a swing through Slovenia, Italy and France last week, many locals I bumped into were planning trips over here, taking advantage of the foreign exchange. There was talk of going to New York, Florida, and California--the familiar destinations.

Europe isn't exactly on better economic footing than the U.S. right now, but folks seem to have sunnier dispositions--they're not worrying about healthcare expenses or juggling personal budgets over whether to buy food or drugs like all too many Americans. Gasoline prices have always been high, a result of big local gas taxes, so an upswing in pump prices isn't fazing anyone over there. More town centric lifestyles mean people don't drive as much anyway. And outside of the UK, credit bubbles and home buying mania didn't get out of hand.