Friday, March 28, 2008

Economics: America in the World

I'd seen this article while I was Greece two weeks ago, and forgot to post it then. It's still relevant. The Republicans are destroying our international reputation. This is the dollar we're talking, not the peso. This kind of thing happens with developing country currencies experiencing hyperinflation, it doesn't happen with the US dollar. Until now. I really think this is an issue that Hillary, Obama and the Dems overall have dropped the ball on. It's frightfully embarrassing. And it so encapsulates what the Republicans have done to our country over the past 8 years. The almighty dollar is now no better than a third world currency you've never even heard of. From Reuters:

The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands....

That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.
Imagine if Bill Clinton had done this. Imagine the Republican talking points. Come on, Democrats - think strategically. This is the kind of insult that regular Americans can appreciate.

No comments: