Word: euros
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...years we've been hearing that the U.S. dollar's days as the world's dominant currency are numbered. Remember when the yen was going to supplant it? Then came the euro. Next up: the yuan...
...step, albeit enough of one to prompt Republican Representative Michele Bachmann of Minnesota to make the claim that Obama was out to ditch the dollar. Actually, the dollar would live on in an SDR-dominated world. It would no longer reign supreme, but neither would the yen or the euro or the yuan. Which might be the best long-run outcome the U.S. can hope...
...greenback has also shown surprising resilience amid the financial meltdown, since investors continue to see it as a safe haven in bad times. Even after some recent losses, the dollar is 15% stronger against the euro than it was in mid-2008. The dollar has maintained its popularity in part because most major currencies don't look much more attractive. Investors judge the value of a currency relative to others. Though the U.S. economy may be in its worst condition in almost 30 years, the rest of the industrialized world isn't any better off. "The dollar should be much...
...regions gain in wealth and economic influence, the U.S. economy will slowly lose its preeminence and the dollar its stature as the undisputed world currency. Harvard's Frankel foresees that the supremacy of the dollar will erode over the next 15 years or so, with other currencies, like the euro, making inroads and forming a system in which multiple currencies share the world stage. "This is the last major crisis in which the dollar is viewed as a safe haven," Frankel predicts. Maybe next time I'm in Tashkent, I'll take along some Chinese yuan...
...from Bugattis to helicopters, but this time around it has taken a greener approach with its new Toile H Smart fortwo Car, a collaboration in celebration of the 10th anniversary of Smart Car's Parisian distributor, the Como Group. Outfitted in Hermès saddle-stitched leather, the 38,000-euro limited-edition car is available only in Paris and comes in 10 colors?from the classic Hermès red to indigo, sky and lime. Boasting the lowest CO[subscript 2] emissions of any car (88 g/km), this tiny vehicle is easy on the eyes and on the earth. Smart indeed...