Now the president of the World Bank is getting into the act. He is giving a speech tomorrow and some of his pre-released comments suggest that it is not a foregone conclusion that the U.S. dollar will remain the world’s reserve currency.
A falling dollar really isn’t a problem for consumers as long as they are not buying anything grown or manufactured abroad and imported, like autos or auto parts, appliances, computers, consumer electronics, clothing, shoes, household goods, lumber, tools, some fruits and vegetables, or most anything at Wal-Mart, Target, or any other big-box retailer. (Even some oil is being sold in euros these days.)
Nope, nothing to worry about as long as you don’t need food, shelter, clothing, or energy. On the other hand, if you wish to hedge your bets, you might want to consider a global allocation portfolio.
