The Dollar Has Become the World’s
Toilet Paper-- How Come No One is
Worried?
Related Links
How the Health care Bill Affects Expats
September 27, 2007
By Steve Greenfield, Contributor to
CollectiveWizdom.com

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
picked up. 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 my
backside off for an outrageous amount of hours
each week, 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 traveled to Montreal in June of this year and the
US dollar was worth 1.08 Canadian dollars. Now it’
s worth 97 cents. That’s a loss of 11  cents in 4
months. Now,believe me, I love my Canadian
brothers but if I can't make them feel bad that
their summers are colder than my winters, and my
dollar is bigger than their dollar, then what's the
point of living?

The “experts” in economics react with a “tut, tut”
to all of us ignorant enough to be concerned.
According to economists quoted in every article I’
ve seen about the decline of the dollar, none of us
should be concerned because the decline simply
means that the goods produced here at home are
now cheaper to Europeans, about 40% cheaper in
fact. That means European and other foreigners
can now Buy American. That will translate into our
factories and companies selling more to the
overseas crowd. And that will mean more income
for our employers who will be able to pay us more
because they will have make more. The only
“losers”, the experts say, will be those Americans
who want to vacation in Europe. Our dollar won’t
go very far, so we won’t be able to buy as much
French wine or German autos. Sounds good, right?

But then there’s that feeling at the back of my
neck.  Something is very wrong with this picture.

American buying power, which is what the
greenback represents, is shrinking, unless the
Europeans and other foreigners buy enough of
our cheap goods (what are we China?) to offset
the value of our in currency. If the factory I work
for sells just a few more cars to Europe, it won’t
make enough to offset the shrinking buck.  Who is
keeping track for the working, middle class
families?  

I remember not too long ago hearing politicians
say “a strong dollar is American policy”. So who is
letting  this free fall happen?  Who’s in charge?

Think of Zimbabwe. Used to be called Rhodesia. It’
s got a currency that is so devalued, so worthless,
that if someone pays you at 9:00 in the morning,
by noon, you need another cash injection just to
come out even. Runaway inflation.   As a currency
goes into the Toilet, workers don’t want

to be paid   to be paid in that currency. They want
to be paid in some of the “good stuff”.  Would
you rather be paid in a currency that’s stable.  Or
want that’s losing value worldwide. See what I
mean.

There’s that nagging feeling at the back of my
neck again.


Keep using your head. Here are more articles on
money and health issues that affect you (why
health articles? You can't spend it if you're dead):
Why the Rich Get Richer/  Brother, Can You Spare
a Euro? / Foods That Reduce Blood Pressure /10
Ways to Become More Active /Sugar-the Disease
Connection / The Gout Diet/ Best Breakfast for
Arthritis /  Bowel Color-What It Means
The Perfect Storm in the
Economy--What the
Dollar's Decline Really
Means to Your
Pocketbook

Brother, Can You Spare a
Euro?

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