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http://www.msnbc.msn.com/id/22487762/
After falling 11 percent in 2007, hitting nine-year lows to hover around 39 rupees, the dollar is out.
Charging only rupees now seems more practical and will save tourists money because "the dollar was weaker against the rupee," Tourism Minister Ambika Soni told the CNN-IBN news channel.
How embarrassing that the dollar is weaker than a fkn rupee!
http://www.washingtonpost.com/wp-dyn/content/article/2007/12/23/AR2007122302441_pf.html
"The dollar was the dominant force in world economics for 100 years -- we had no competition," said C. Fred Bergsten, an American economist and director of the Washington-based Peterson Institute for International Economics. "There was no other economy close to the size of the United States. But all that is now changing."
The dollar is down more than 40 percent against the Euro over the past seven years, taking a particularly sharp drop last month. Despite a bit of a rebound in recent weeks, the dollar is still off nearly 12 percent since Jan. 11, when it hit its peak for 2007.
The declining dollar's role in fueling inflation has become a palate for barbs across the Muslim world, where furious residents and leaders, including Iran's President Mahmoud Ahmadinejad, have sought to turn the weaker greenback into a new rallying point for anti-Americanism. "They get our oil and give us a worthless piece of paper," Ahmadinejad told reporters after the OPEC summit in the Saudi capital of Riyadh last month.
With oil hovering around $100 a barrel, the housing market bombing out, and the dollar dropping like a rock can a huge stock market collapse be far behind?
After reading these two articles and others on the subject I would think that this would be a major issue for the upcoming elections. Are any of the presidential candidates even discussing what they will do to correct the dollars free fall?
If the OPEC nations decide to start trading oil for Euros instead of dollars I'd say our economy would be totally fucked.
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