It's not really that big a thing with anyone in the SCLM, because it requires both actual thinking, and a small grasp of mathematics, but what the dollar is doing overseas is something to watch. It's sort of the "stealth" National Security monster, it's got about all the sex appeal of the midwatch in a Top Gun movie, so you never see it. But Preznit Economic Disaster could very well be not only spending out grandchildren's inheritance, but damaging our National Security in ways so far under the radar no one is watching.

The dollar slid back toward last week's record low against the euro on Monday after a weekend meeting of world finance chiefs ended with no agreement to stem the greenback's decline.

G20 policymakers made no mention of the dollar's slide in a communique issued at the end of their meeting in Berlin, reinforcing the view that major nations have accepted the need for a weaker dollar to correct the United States' trade gap.
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German Chancellor Gerhard Schroeder said on Saturday the euro's rise was "worrying" and blamed the United States for not addressing its budget and current account deficits.

Following Schroeder's critique, U.S. Treasury Secretary John Snow said his country was committed to cutting its record budget deficit in half over the next four years. But in a swipe back at Europe, he said all countries were responsible for boosting growth and correcting trade imbalances.