Hey now, look who's making a comeback! The dollar has strengthened significantly compared to most currencies except the yen, and this month alone it has gained 11 percent against the euro. It could be a temporary trend that disappears as quickly as it happened, but The Wall Street Journal helps us understand how the current comeback affects Americans.
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When most people get angry about the economy they express themselves with choice words, and artist Laura Belkin responded on a whole other creative level. The Manhattan artist is protesting by using her art as a statement about the US financial crisis.
Tomorrow, Laura will be on Wall Street distributing the 10,000 zero dollar bills she made.
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To understand what's happening with the dollar right now, you need only walk around the shopping centers of cities like New York and San Francisco. At first glance you'd think that Americans were busy blowing their dollars on whatever they please, but given a closer listen, you'll find these shoppers aren't American at all — they're European.
The New York Times examined the reactions of some Manhattanites who have come down with a collective case of Euro-envy this Summer, as they jealously watch European shoppers have at the city.
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The Europeans are coming to the United States in huge waves, but not just for the Levis, electronics, hamburgers, or Pamela Anderson. They are coming to purchase another quintessential American product: business.
European investors want to take advantage of the weak dollar, which has put lucrative companies on sale.
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Drug traffickers now join rappers and models who have been ditching the dollar for the more exquisite euro.
White House drug officials announced this week that cocaine is being rerouted from the US and heading through Venezuela to West Africa eventually reaching its final destination — Europe.
With such a weak dollar, drug dealers have more to make by hustling in the Old World.
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You may not have thought about what $100,000 would have bought in 1998, being that many of us were at the prom and watching non-rerun episodes of 90210. But 10 years later, money is on all of our minds, and maybe we worry a little more than we'd like. Most of us have a much better understanding of the value of a dollar than we did back then and can now truly get a feel for some of the surprises in terms of what $100,000 would have bought in 1998.
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The new purple (and green) five dollar bill was released into circulation a few weeks ago, and I was finally lucky enough to get one in my hands! I think the front of the bill could use some more purple, but other than that the new bill didn't disappoint my high expectations.
Abe's makeover has made the new five significantly more sassy than the other older, less colorful bills.
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The US has become more cost competitive than ever before and has therefore moved up on the list of the most cost-efficient places in the world. The plunging dollar has made the US a cheaper place to do business than France, Britain, the Netherlands, and Italy.
The value of the Canadian dollar, Australian dollar, British pound, and other currencies have increased in double digits compared to the dollar, but Mexico is still the cheapest place to do business.
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When my dental hygienist told me that her German relatives were traveling to the US on organized shopping tours, the dollar's weakness became even more apparent to me. It's no secret that the dollar is in the dumps, and consumers across the ocean are rightfully taking advantage of its decline.
Another type of tour isn't taking place in our shopping centers, but in our struggling suburbs.
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Small currency exchanges in Amsterdam are refusing to exchange dollars because they're worried the shrinking currency will be worth even less by the time they're able to sell it. Tourists looking to sell their dollars in exchange for local money have to resort to larger exchange counters while they're on vacation. While it may not be the most convenient reality, exchange rates are generally best at banks, anyway.
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