So I Should NOT Book That Flight To Manchester Then?

The dollar is now close to half the value of the British pound. It's similarly horrible against the euro. The biggest fear to America's economy is that the world simply loses faith in the dollar and starts shifting their transactions to the euro, which is now ubiquitous enough to handle it.

Imagine, the only way our manufacturing base stops hemorrhaging is if our currency becomes so cheap that our goods and labor become a bargain. Which is how we lost all the jobs in the first place. Third World, here we come!

Of course, if this means the Fed will cut interest rates, color this man looking to buy real estate happy.