Posted on Sun, Nov. 1, 2009
What's with the dollar? The value of the U.S. greenback has fallen this year against other major currencies. What does it mean for you and me? These sites take a look at the issues involved.
Don't panic. Contrary to some of the scarier reports on the rapid erosion of the dollar and U.S. influence in the world, says this article at the site of Foreign Policy Magazine, "the global economy will still be all about the benjamins" for the coming decades. Yes, the euro has made a dent, it says, but the dollar still accounts for 65 percent of world currency reserves. "Take a look at history, in fact, and the present aura of uncertainty about the dollar appears, well, historical," it says.
http://go.philly.com/dollar1
Loved in 'Nam. This recent Wall Street Journal article, available through Yahoo, says the dollar still reigns "in jewelry stores in Vietnam, taxicabs in Venezuela, and outdoor markets in Nigeria," and among black market money changers the world over. You get your good news where you can find it.
http://go.philly.com/dollar2
A good thing? A falling dollar is no new problem, as this 2007 article from the Christian Science Monitor shows. Titled "How the falling dollar affects Americans," it shows that, at least at that time two years ago, both good and bad can come from a falling dollar value. For example, as we pay more for foreign goods, our own products and services become cheaper abroad, which can be a boost for U.S. payrolls (though in dollars that aren't worth as much).
http://go.philly.com/dollar3
To keep things in perspective, here's an even older piece from New York Magazine called "Ode to the falling dollar."
http://go.philly.com/dollar4
Save the dollar. Or, more accurately, save a dollar. This page isn't about the value of the dollar. Instead it lists 101 ways to keep more sawbucks in your wallet, especially by maintaining stuff you already own, and by economizing around the house. Some suggestions might be harder than others to adjust to - using cloth diapers rather than disposables, for example.
http://go.philly.com/dollar5
Contact staff writer Reid Kanaley at 215-854-5114 or rkanaley@phillynews.com.
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