pretend that since the DOW is way up...
we are all much more wealthy than we were..., once upon a time.
and ignore the price of gasoline and food
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If you read the CNN article, you will notice that while the EURO has been attacked from within by problems of the PIIGS, not only this year, but for the past 12 months, the EURO has increased in value against U.S.
What is also shown below is that both the Canadian and Australian dollars have also risen, substantially, against U.S.
What you will also see below is that ALL of the gains you made in the DOW and the SnP500, were matched by the decline in the worth of the U.S. dollar.
What SHOULD surprise you is that Germany, Canada, Australia have ALL maintained surpluses in their balance of trade AND increased their exports - in spite of the increased value of their dollars.
THEY are competitive. We are not. Ask yourself Why?
Bcuz of the Japanese nuclear power problems, Germany and China are reducing their plans for further expansion; and they have announced they will need to increase their use of crude oil.
Bcuz of the miss-handling of the Libyan crisis, the price of gas has, and WILL, continue to increase.
Not only did the last tax cut given to you by the Federal Govt get eaten up by increased fuel cost, but as those costs continue to increase, you will have to shift your money around to cover it, without tax refunds.
It could get a lot uglier. Soon.
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========= SnP 500
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Expert: U.S. should 'give up on the dollar'==========
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