Nov 10, 2007

Alan Abelson: Still bearish on the dollar

GISELE BUNDCHEN IS A MUCH-IN-DEMAND BRAZILIAN who commands a king's ransom to do her modeling thing. We admit that Gisele was completely unknown to us (which, it appears, and we say this somewhat ruefully, didn't hurt her career one whit) until her highly publicized pronouncement that henceforth the king would have to pay his ransom in euros, not dollars, for her services.

In the case of the dollar, we doubt if there's a sentient being anywhere who's unaware of its horribly reduced status. And since the decline and fall of the dollar apes the woes besetting the economy at large and the financial system in particular and we see no immediate relief in sight for either, Gisele, we submit, is right on the money.

~ Alan Abelson, "Day of Reckoning," Barron's, November 12, 2007

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