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Don't Buy into Talk of Dollar's Demise

The demise of the U.S. dollar as the world's go-to currency appears to have been greatly exaggerated.Pointing to the scary 2008 financial crisis and America's bloated budget deficit, greenback haters have predicted the eventual move away the dollar for years, suggesting potential alternatives like the euro, gold and China's currency.But the dollar's status as the preeminent world currency doesn't appear to be in serious jeopardy, especially because its rivals all have serious disadvantages and the U.S. is among the strongest-performing developed economies."We believe it premature to conclude…that the dollar will lose its reserve currency position," Paul Christopher, chief international strategist at Wells Fargo Advisors (NYSE:WFC), wrote in a recent note to clients. "Investors should avoid jumping to conclusions."The loss of the dollar's status as the world's reserve currency would represent a huge hit to American prestige as well as the U.S. economy, which enjoys a strategic advantage...

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  1. UK Government Borrows Less Than Expected in April, Retail Sales Fall

    The U.K. public sector borrowed less than expected in April as an increase in income tax receipts boosted government coffers, but the positive sentiment was dented b...

  2. IMF: U.S. Cutting Budget Deficits Too Quickly

    The International Monetary Fund on Monday said the United States was getting carried away with a government austerity drive, offering some of the institution's blunt...

  3. What If There Was No IRS?

    "The third agency of government I would – I would do away with [is] Education, Commerce and, let's see. I can't. The third one, I can't. Sorry. Oops."I bet Texas Gov...

  4. Florida Recruiting for Food Stamps?

    Manhattan Institute Senior Fellow Diana Furchtgott-Roth on why Florida is trying to enroll more people for food stamps.

  5. Risks for Cyprus are 'unusually high', adoption of austerity plan imperative: IMF

    The IMF said on Friday that risks for Cyprus were "unusually high" given its weak banking sector and economy and the island's full adoption of an economic austerity ...

  6. Vedanta Mulls Raising Cairn India Stake But Only After Reducing Debt

    UK-listed, India-focused Vedanta Resources PLC (VED.LN) has a grand vision of raising its stake in majority-owned oil and gas company Cairn India Ltd (532792.BY) by ...

  7. The 2014 IRS Budget: All About Compliance

    The debate over the debt ceiling and federal spending is still raging on in Washington, D.C., and many government agencies are learning to do more with less. Despite...

  8. Scandals Distracting from the Debt?

    Former Reagan Budget Director David Stockman on the scandals surrounding the White House and the mounting government debt.

  9. Treasury Moves to Buy Time Under Debt Ceiling

    The U.S. Treasury on Wednesday announced the first of a potential series of emergency cash measures to allow the government to keep paying the nation's bills once a ...

  10. Southwest CEO Says All You Need Is LUV

    Southwest Airlines Co. has been profitable for 40 straight years.Unlike every other major carrier, it has never filed bankruptcy. It has never sacked employees with ...

  11. Gold and Silver Struggle As Stocks Make New All-Time Highs

    On Tuesday, gold ( NYSEARCA:GLD ) futures for June delivery, the most active contract, declined $9.80 to close at $1,424.50 per ounce, while silver ( NYSEARCA:SLV ) ...

  12. CBO Says 2013 U.S. Budget Deficit Estimated at $642 Billion

    The Congressional Budget Office said Tuesday the federal deficit is expected to shrink to $642 billion in the fiscal year that ends Sept. 30, down sharply from last ...

  1. New Indonesian Central Bank Chief To Focus on Inflation Amid Political Pressure

    Former Finance Minister Agus Martowardojo began a five-year term as Indonesia's central bank governor Friday, taking the reins as Southeast Asia's biggest economy fa...

  2. Busy New York Bankruptcy Court Faces Budget Crunch

    After two years of budget cuts and further hits from the federal budget sequestration, officials at one of the nation's busiest bankruptcy courts say they are barely...

  3. Portuguese leaders build faith in bailout exit

    President Anibal Cavaco Silva thanked Portugal's patron saint for a long-delayed approval of Lisbon's bailout review last week, but the head of state could claim a s...

  4. Analysis: As economy strengthens, a bonds sell-off may beckon

    The U.S. government bond market has weakened in recent weeks but some investment strategists fear that this may only be the beginning of an extended sell-off.They po...

  5. Bernanke's prepared testimony to Joint Economic Committee

    Below is the text of Federal Reserve Chairman Ben Bernanke's prepared testimony on the U.S. economy to the congressional Joint Economic Committee on Wednesday.Chairm...

  6. At the Heart of DC's Fight with Apple

    "They offload Apple's tax burden onto other taxpayers – in particular, onto working families and small businesses. The lost tax revenue feeds a budget deficit that h...

  7. UK Public Sector Borrowing Falls, Retail Sales Weak

    The U.K. public sector borrowed less than expected in April as an increase in income tax receipts boosted government coffers, but the positive sentiment was dented b...

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