My Two Cents

The Dollar

Chris Farrell Sep 24, 2007

The dollar dropped to another record low against the Euro. It also hit a 15-year low against a basket of currencies representing America’s six major trading partners.

Normally, the value of the dollar doesn’t garner a whole lot of consumer attention. That’s not true this time.

Case in point: I was at the live broadcast of A Prairie Home Companion this past Saturday, and in his opening remarks Garrison Keillor talked about the Canadian currency reaching parity with the dollar. Not only is this remarkable, he added it does mean Canadian geese will be able to afford better accomodations down south. (If you ever get the chance, go to A Prairie Home Companion broadcast. It’s a great radio experience.)

A lower dollar is a boon to our domestic manufacturing industry and overall exports are an economic bright spot. Still, there’s a haunting fear in parts of the global capital markets that the dollar is poised to plunge. If it did, that could–okay, would–spark another global credit crunch.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.