The Incredible Shrinking Dollar By Steve Greenfield Essay
By Steve Greenfield
Dec 18, 2007
The Dollar Has Become the World 's Toilet Paper. How Come No One is Worried?
Okay. I am not the world 's authority on anything but my 1966 Mustang. But there are those moments when the back of my neck tingles, and I know I 'm picking up a bad signal on something. Sort of like what those wild animals must have felt. You know, the ones that headed for high ground days before the Tsunami hit and killed 250,000 people. The scientists were tiptoeing among the dead bodies when it hit them that they hadn 't seen any dead animals among the muddy bodies of dead humans. Who knew how those wild animals knew it. But whatever they felt, they listened to it. Hard.
Here 's what I 'm feeling now. Today, the dollar, the US greenback, the piece of paper I work an outrageous number of hours each week for is in trouble. I read with alarm the articles reporting for the past six years that the dollar has slid way way down, from the day when the "Euro" debuted in 2000 to today, it went from a starting line of equality with the euro to today, when one Euro gets you $1.40. So, the greenback has been in a race with the Euro and now, the euro is worth 40% more. Not swell.
We 're fast running out of countries to feel superior to. During the week of October 8, the US dollar fell to 97 cents versus the Canadian dollar. I love my Canadian brothers but if I can 't make them feel badly that their summers are colder than my winters and my…