Word: dollarization
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...Dollar Wise To read Justin Fox's daily take on business and the economy, go to time.com/curiouscapitalist
Economists who study currency movements aren't so sure. They figure the usual cyclical ups and downs are a big factor in the dollar's fall. How much of a factor? Who knows? "I try not to talk to reporters too much these days," says Menzie Chinn, a University of Wisconsin economist who is one of the nation's leading academic currency watchers. "Because, frankly, I'm confused...
...distinguish a cyclical downswing that's clearing the way for good times ahead from the wheezing of a currency and a nation in decline. Pessimists look at the budget deficits being run by the Bush Administration and the easy-money policies of the Federal Reserve and see a dollar that will never recover, leaving Americans permanently poorer...
...what should U.S. dollar policy be? Probably something along the lines of "We'd like it if the dollar got a bit cheaper, especially against the Chinese yuan and a few other Asian currencies, but then stopped falling." Can you blame the President for not wanting to say that at his next press conference...
What will the next six months bring for the American dollar? -Diana West, Memphis, Tenn.My guess is, the dollar will stabilize, to the huge disadvantage of the euro. The only zone where the dollar's value matters to us is the purchase of oil. If we weren't buying foreign oil, we wouldn't care about the value of the dollar...