The Plight of the Declining U.S. Dollar
If you think you’re having a bad year — and I hope you’re not — consider the plight of the declining U.S. dollar. In fact, if you’re thinking of traveling overseas, be prepared to reckon with the great unraveling of the world’s most pre-eminent currency.
Going back to January 1, 2007,, the dollar has been the 51st worst performing currency in the world. That means a whopping 50 currencies, from New Zealand to Norway, have bettered the U.S. dollar. Almost halfway through the year, things haven’t gotten any better. Last week, the slumping dollar slid to a new low against its primary rival, the euro, after the U.S. economy recorded its fourth consecutive quarter of negative growth. Read more