The Decline of the American Dollar

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Two weeks ago, Fed Chairman Alan Greenspan warned that foreign central banks won't keep loaning America money forever. The stock market, bond market and dollar went into decline. Since then, more headlines have predicted financial meltdown to greater or lesser degrees. The dollar is still the world's reserve currency even though it's now worth 30 cents less than the euro, and Chinese and Japanese banks still buy American bonds, even though they could make more investing elsewhere. Still, the US government goes on borrowing, while US consumers are spending like mad. How much longer can this go on? Will the trade and budget deficits lead to financial meltdown? What does it all mean for the pocketbooks of Americans? We talk about what Britain's Economist magazine calls "the disappearing dollar" with journalists, academics and economists.
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9/11 Recommendations Implementation Act (S2845)

9/11 Commission

Fed Chairman Alan Greenspan on the roll of the dollar, euro

Economist article on US dollar

Pender's column on the weak dollar

Walt Disney Concert Hall

USC Architecture Professor Marc E. Schiler on glare



Warren Olney