But at least the dollar is still worth more than the Monopoly game board dollar.....

[marmar]

:think:


from Bloomberg:


Dollar Heads for Biggest Weekly Drop Against Euro in a Month

By Kosuke Goto and Yumi Teso

March 28 (Bloomberg) -- The dollar headed for its biggest weekly decline in a month against the euro as traders increased bets that the Federal Reserve will cut interest rates again to avert a recession.

The U.S. currency also headed for a weekly loss versus the yen before a government report today that is forecast by economists to show consumer spending in the U.S. posted the smallest gain in more than a year last month. The yen snapped a five-day losing streak against the euro as a drop in stocks prompted traders to reduce holdings of higher-yielding assets funded with loans from Japan.

``The U.S. may have already entered a recession,'' said Michiyoshi Kato, a senior vice president of currency sales at Mizuho Corporate Bank Ltd. in Tokyo, a unit of Japan's second- largest publicly traded lender by assets. ``The Fed will keep lowering rates to defuse criticism that it always falls behind the curve. I am super dollar bearish.''

The dollar traded at $1.5773 per euro at 10:07 a.m. in Tokyo from $1.5779 in late New York yesterday and $1.5431 a week ago. The U.S. currency weakened to 99.44 yen from 99.65 yesterday and 99.58 a week ago. Japan's currency rose to 156.02 per euro from 157.21, following a 2.1 percent loss this week.

The dollar may fall to $1.60 a euro next month, Kato forecast. That would surpass the low of $1.5903 reached March 17, the weakest level since the European currency debuted in 1999. ......(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aRFR9yC7ic1w&refer=home

[0007]

1. It ain't worth the paper its printed on.

At least you can play with game board dollars. The best one can do with US currency is to form a circle jerk. And hope you get a good hand to get you off.

[Beregond2]

2. Money

I dunno...with Monopoly money I can buy a house on Park Place!

[Thepricebreaker]

3. lower the dollar - the more people buy in the USA and USA goods.. it will fix itself...

[marmar]

5. That would be great if we made anything anyone wanted....

.... I'm sure people are just clamoring for all those U.S.-made TVs, right?

[razors edge]

6. What exactly will they buy?

Conventional, nuclear, or both?

[magellan]

9. Yo do realize we import more than we export, don't you? n/t

[Clear Blue Sky]

4. Not by much.

[DBoon]

7. wait till the dollar equals the Mexican peso

you will see an immigration "problem" in the opposite direction

[BleedingHeartPatriot]

8. Remember five years ago when the Euro currency market began its ascendancy?

Remember those few of us who mentioned that this new currency change was worthy of some discussion and understanding?

I hadn't joined DU yet, which didn't stop me from having impassioned discussions about the insanity of ignoring the Euro. Anyhoo, welcome new members who voted for Bush, once or twice.

Another Bush policy, ignore it and it will hopefully, if I pray,go away. Go bush. smart policy.


:mad:

[Eric Condon]

10. "U.S. Dollar Slips Against Canadian Acorn"

http://www.theonion.com/content/node/42363


You can always count on the Onion in times of crisis.