The Dollar: Crash Scenarios
Would a crash of the dollar revive U.S. manufacturing? Or make America just another inflation-ravaged nation? And is the chance of a dollar crash so remote that writing about it constitutes trashy journalism? We heard from readers with all three points of view after publishing "What Happens If the Dollar Crashes" (New Business, Oct. 26). The story also prompted a letter calling for replacing the greenback with a single global currency. —Peter Coy
There is nothing better than [the] U.S. dollar collapsing.
Screen name: Good for US manufacturing and US workers!
What happens if the dollar crashes? We repudiate free trade. We put Americans back to work making things again.
Screen name: Josiah McGuffog
The U.S. electorate has demonstrated that, given a choice between sacrificing the entitlements their political leaders have promised them and allowing the Treasury or the Fed to borrow and/or print whatever is necessary to prop up the house of cards, the latter course will always prevail.
Screen name: ted in pdx
"What Happens If the Dollar Crashes" looks like the cover of the National Enquirer. The dollar is well within [an acceptable] range, given the state of interest rates and GDP. The story failed to mention that no one is betting heavily [on] long-term decline. (See: "futures market.")
Screen name: Tobby
Is it time for BusinessWeek to consider the future implementation of a single global currency, managed by a global central bank within a global monetary union? As [former Fed Chairman] Paul Volcker wrote: "A global economy requires a global currency." And such a currency can't be managed by one country.
Single Global Currency Assn.
Tax Reform: Slighting American Workers
Regarding "Inside the Business War Against Tax Reform" (In Depth, Oct. 26): Apparently some politicians believe that U.S. multinationals resisting tax reform are representing the best interests of the American worker and economy. I work for one of these companies. It is eliminating higherpaying jobs in the U.S. and Europe in favor of creating jobs in lower-cost areas and using charges against earnings (which lower its effective tax rate) to finance severance packages. If tax authorities want to know what's best for the U.S. worker, they should speak to one.
Product Placement: Common Sense, Not Regulation
Free Press, the activist group that is "waging war on product placements," needs to lighten up ("Blasting Away at Product Placement," What's Next, Oct. 26). The McDonald's McFlurry bit on 30 Rock was a spoof! That show often mocks the use of blatant product placement.
I'm capable of determining the motivations of a show's producers, and I share these insights with my children, who "get" that advertisers are motivated by profit. Thanks for your concern, but I do not need any more FCC protections.
MARIN COUNTY, CALIF.
Employment: Not Happy to Be 'Lost'
"The Lost Generation" (In Depth, Oct. 19) doesn't offer any advice to young people in search of employment. As a sophomore in college studying business, I am taking advantage of every opportunity—joining business organizations, networking, and applying for internships. I understand that youth unemployment rates are especially low, but this article included no success stories and was discouraging to me and others.