Dollar Still on Decline by Barbora Kasparova

What was once stable and strong currency - the U.S. Dollar is still on decline, the issue analysts and economists have been dealing with recently. Dollar is at its minimum towards most of the world's currencies, on Tuesday morning, for example, Euro was worth 1, 4532 USD. As Pat Buchanan states on creators.com: "A sinking dollar means a poorer nation, and a sinking currency has historically been the mark of a sinking country." According to him, dollar falling trend can have far reaching consequences not only for Americans. The dollar seems to be repeating a pattern & its first fall after the Vietnam War during the so called oil crisis, after the first Persian Gulf War, and - falling again, after the war in Iraq. While George W. Bush is concerned about setting world free from terrorism and dictators, the U.S. citizens face their currency depreciation. Pat Buchanan blames the U.S. foreign deficits, and consequently the American standard of living, that is, once well inhabited, harder and harder to sustain. Lawrence Summers, of Financial Times, in his article "How America must handle the falling dollar" says: "The dollar's decline may provoke anxiety but it should not be a surprise to anyone who has followed the global economy in recent years." (http://www.ft.com/cms/s/0/19910d64-858f-11dc-8170-0000779fd2ac.html) In his opinion, the stabilizing of the U.S. dollar will be a task of the next U.S. administration.

related story: http://news.yahoo.com/s/ap/20071105/ap_on_sc/space_shuttle;_ylt=AqFQzGpcoC91Sc6.tSZM_r.s0NUE

by Barbora Kasparova for PocketNews (http://pocketnews.tv)

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