The dollar hit another new all time low today against the euro. The euro rose as high as $1.4571 against the dollar, according to Reuters data, its highest level since its 1999 launch. It was last trading at $1.4556, up 0.7 percent on the day.

Gisele Bündchen, the 27-year-old Brazilian supermodel, has demanded to be paid in euros.

Oil prices have risen to a record high above $97 a barrel, amid concerns over tight fuel stocks and a weak US dollar. US crude oil rose $3 to a high of $97.10 before closing at $96.70, while the price of London Brent crude climbed to a record level of $93.26 a barrel. We’re paying 3.10 a gallon for regular in South Florida. Not pretty.

Federal Reserve Board Governor Randall Kroszner said today the subprime mortgage meltdown is going to get worse. Alan Greenspan stated today “The critical issue on the whole sub-prime, and by extension the whole financial system, rests very narrowly on getting rid of 200,000 to 300,000 excess units in the United States.” What…..do we start burning them down or what? George Soros warns that the US is on the brink of a slowdown far more serious than the Federal Reserve is expecting.

And the beat goes on………

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