Euro vs. Dollar for the last three months ... Time for a European vacation?
With bailouts in the news and rumors of the world progressing to a post-America/Dollar economy, this chart should be a surprise. The past few months have seen a significant drop of the Euro relative to the Dollar. Rumors are that Europe is worse off with respect to the credit crisis than America, and a falling Euro would seem to be a proper symptom. I suspect that this reflects a difference in culture, but also perhaps a difference in agenda of the talking elites. For example, splashing the bad news onto the front page every day regarding the European economy would discredit socialism, whereas splashing similar bad news every day regarding the American economy only discredits capitalism. Any other theories?