This whole weak dollar thing isn't getting a lot of attention overall, but at some point it should become a concern in the U.S., even if you don't spend your days on the floor of the stock exchange.
Today came word that the South Korean central bank would "diversify" its currency holdings, and other countries are expected to follow suit. In this case, "diversify" is a fancy word for "dump the dollar."
I didn't get a lot out of my financial class in high school, but it makes sense to me that if banks don't want to hold our currency, they might shortly not want to hold out debt -- and we've got a lot to hold. At the very least, a weak dollar would seem to make our debts even larger.
Not to sound like Chicken Little, but that sky does seem to be getting a little closer to earth lately.
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