A sign of the times: in his new video, Jay-Z flashes his cash, but it's not green:
Consider this little slice of dollar zeitgeist: In his new video, "Blue Magic," as Brooklyn-born rapper Jay-Z speaks of spending his bread, the money that flashes on the screen is a stack of euros, not dollars.WSJ.
The Federal Reserve's broad dollar index, which measures the buck against a basket of currencies, is near its lowest level in 11 years. The dollar has tumbled 44% against the euro since 2002. Even the lowly Japanese yen, which has tended to be weak against the dollar, is up 7% against it this year.
In other signs of the dollar's perhaps permanent downward inflection, both Gisele and China have signalled their distrust in
(Of course, a weak dollar is not necessarily all bad. It's good for American exports. Of course, it does create the possibility of inflation, as we have to pay much more for anything we import. The weak dollar also reduces the real value of debts. There's more, but there's not enough time right now.)