Too Late to Ignore the World

The current situation of the weak dollar may mark a lasting shift in global economic realities. Recently, it was suggested in some foreign circles that crude oil be redenominated into Euros. You can imagine how this would delight many of our overseas detractors. It would be a devastating setback to our business environment and would mark the beginning of the end of our dominance in global financial markets. Without substantial foreign holdings of dollars and investment in the United States, our small (and large) businesses will find cheap and easy credit harder to obtain. Starved of its easy credit monetary fuel, the engine of American entrepreneurialism will shudder to a halt.