Jul 6, 2008
The buck doesn't stop here; it just keeps falling
Things in the U.S. sure are tough. Brother, can you spare a euro? Brazilian Supermodel Gisele Bundchen no longer wants to be paid in dollars. Signs saying 'We accept euros' are cropping up in the windows of some Manhattan retailers. A Belgium company is trying to gobble up St. Louis-based Anheuser-Busch, the nation's largest brewer and iconic Super Bowl advertiser.
The almighty dollar is mighty no more. It has been declining steadily for six years against other major currencies, undercutting its role as the leading international banking currency. The long slide is fanning inflation at home and playing a major role in the run-up of oil and gasoline prices everywhere.
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