Declining Dollar Value
The U.S dollar, for a long time it had been one of the top currencies in the world, rising above all the rest. But the world hasn't always relied on the value of a piece of paper for their needs. A long time ago citizens would trade something such as a racoon skin for a dozen eggs, or two pieces of gold for a silk dress. But that was in the past, now it is the future and we have developed new ways to provide for ourselves, yet we are still worried about the future to come and what will become of it.
Currently, it does not look so bright, especially since the value of the dollar has begun to decrease. Since 2001 the dollar has lost an average of 37% of its global purchasing power. Also, right now one has to pay about $1.24 for each euro, and three years ago one only had to pay about 80 cents for each euro. This shift in value is partly due to basic supply and demand. Unfortunately, this big change in currency values increases unsteadiness in the economy of the world by preventing international trade and investment due to rising hesitancy.
Although many have a negative view of the declining value of the dollar, some approve of its fall because they believe that it makes U.S. exports less expensive; so the demand for U.S. goods will increase. The downside is that since the dollar is of low-value, it makes the imports we recieve more expensive, including raw material and other resources U.S. businesses often use. It also makes it more pricey for Americans (or people who use the dollar as their currency) to travel or invest outside the United States of America. U.S. citizens aren't the only ones concerned with the dollars value. It effects the whole worlds' financial structure, expecially the export-associated economies of Europe and Asia. Throughout all of these worries, hopefully we will be able to rebuild the value of the dollar so no longer will our fate be in the hands of this green piece of paper.