… Long live the King.
That would be the euro.
George Bush, the Iraq War, and a spineless, supine “opposition” have all contributed mightily to the steady fall of the US as a world power respected by many and the dollar as the de facto world currency. But thanks to the zealots in the White House and a Democratic Congress that consistently over time has refused to grow a spine, well, eight years ago, no one would have predicted the dollar would have fallen so far and so badly. Yet it has.
Will it come back some? Sure. But it’ll never be the undisputed champ again.