Wait, I buy very, very little that is imported from Europe.
Hey, maybe this will be good for American manufacturing and exporting?
This is bad news in regards to our never ending need to refinance our national debt. It means that we have an even greater need to stop deficit spending.
However, it may also be of considerable benefit to our economy.
That's the problem. There is no American manufacturing or exporting left. We don't make anything anymore - we shopped it out to China.
What is Europe going to buy from America with its euros? Illegal alien labor? Subprime mortgage paper? Ooops - they did - that's why they're in financial trouble too.
Sorry, but all the old hedges against a falling dollar - cheaper goods to export, inventory sell offs - don't exist anymore. You can't make it up with YouTube videos or Google shares, or illegal alien hotel workers, or American farm products (we sent that overseas, too!).