The New Chicken Little: “The Dollar is Falling!”

By December 5, 2004Trade

The new frenzy these days is happening among the Chicken Little Society, consisting of the great and narrow minds at the NY Times and other old media publications, wringing their hands (feathers?) over the value of the dollar.

Battling back — and armed with the truth — is our own Frank Vargo, featured in yesterday’s USA Today on the topic. As you’ll see below (“Dollar Down, Exports Up”), the leveling off of the dollar is actually helping US manufacturers abroad. That’s a good thing, no? As Frank points out in his piece, the dollar is still 7% higher than it was when it took off in l997. It’s also funny that they keep talking about the “history” of the dollar/euro relationship, considering that the Euro’s only been around since l999.

In any event, Frank’s piece is an antidote for the Chicken Littles out there, and recommended reading for anyone who wants the straight story on the dollar.