US Dollar Hits A Record 15-Year Low, Are You Affected?

Inevitably, many of you readers will be disappointed to hear that the oh-so-precious US dollar has recently decreased in value significantly, being at it’s lowest since 15 years ago. On the other hand, the rest of the world can be joyful and happy as they spend their valuable notes away.

“The jobs data is simply horrific and fans the most pessimistic fears,” said Marc Chandler, chief global currency strategist.

“The housing market woes will undermine the U.S. consumer, push the U.S. economy into recession and drag down growth in much of the rest of the world.”

“The Fed cannot keep ignoring the fact that the subprime and credit crisis has indeed hit the real economy,” said Kathy Lien, senior currency strategist at DailyFX.com.

“Americans are feeling the pain and this will translate into weak consumer spending, which will drive speculation for a possible recession,” she said.

Of course, this was quite an inevitable occurance, as the dollar hasn’t exactly been doing too well recently.

We spoke to market analyst, Sam Kirtley of The Gold Prices Newsletter, who has been predicting that the US Dollar has and will be dead for quite some time.

“The trouble is that the Federal Reserve continue to print masses of worthless currency without regard for the long term” Mr. Kirtley added. “We will continue to see gold surge with the dollar collapsing over the forseeable future”.

Have you been affected by the collapsing US Dollar at all? What are your predictions?