Well, the US dollar is falling for two reasons. The first is the fault of the US, but the second is just a general trend and nothing to worry about.
First, this country is losing its competitive edge in world markets, because we spend too damn much on war (close to $770 billion a year, when you count everything up, including supplemental bills, nuclear weapons, foreign military aid, veterans payments, etc.), and not enough on industry, science and education. Unnecessary military spending and stupid imperial wars are what destroyed the Soviet Union, and we're following the same path of self-destruction. Declining economies end up with declining currencies, period.
Second, the rest of the world is industrializing and getting richer. That's nothing to worry about, it just means that China, Russia and other economies are growing fast and will be able to buy more stuff from us, which helps our economy.
What's worrisome isn't the US dollar per se, it's the US current account deficit. The US is borrowing waaaaay too much money from foreign creditors, at some point the bills will come due and we're going to have to retrench.
Existing User Log In
New User Registration
Register for a free account to gain full access to the VGChartz Network and join our thriving community.
