Down and Down The Dollar Goes

With each day that the dollar falls and the euro gains, the United States is losing grip on what little influence it had through the dollar. Several factors leading to the weak dollar are a slow economy, high energy prices, and the wars. Our economy has become almost stagnant because of the housing fiasco and rising inflation. Oil is trading for over $100 and gas will cost $4 a gallon by the summer. The wars in Iraq and Afghanistan are draining our economy of additional capital which in turn is the final blow for the dollar.

So what can possibly be done to address this issue? Everything. Nothing.

My suggestion is to make a global transition and have oil traded by the euro. This would alleviate the dollar. By switching oil sales to the euro, we would literally be taking the strong world off the back of a weak US economy. Several years ago, this was an unrealistic option. In present day it seems very real.

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