| 2007 Wrap-Up
The dollar's share of global foreign-exchange reserves fell to a record low in the third quarter as demand for U.S. assets waned after the subprime-mortgage market collapsed. The U.S. currency accounted for 63.8% of reserves at the end of September, down from 65% at the end of June, the International Monetary Fund said... The share of euros increased to 26.4%, from 25.5%. The figures suggest central banks diversified out of the dollar as it fell to the lowest level in a decade. Investors sold a record amount of U.S. securities in August when defaults on subprime mortgages rippled through financial markets and the Federal Reserve signaled it would cut interest rates." December 27 - Financial Times (Daniel Dombey): "At the end of a year in which the dollar has endured a marked decline against other currencies, an unsettling question is beginning to be voiced: can the troubles of the US currency be confined to the financial world or are they set to undermine Washington's place on the international stage? 'This is the neglected dimension of the dollar's decline,' says Flynt Leverett, a former senior National Security Council official under President George W.
Friday wild card
The big guy will be back next week, and the weekend approaches, so this will be it from me for a while. Thanks to all of you for your post suggestions - I've got a much better sense of the enormous amount of work that DFO puts in to keep this blog going. It's also way more fun than the Daily Briefing, unless there's marmots to write about... .
Saturday afternoon Apple links, pre-turkey edition
And hey, it's nice to have something to read when you wake up at 1 PM on Saturday with a headache (or maybe that's just the Infinite Loop staff). Without further ado, here are the odds and ends from this week: In case you aren't sick of hearing about patent infringement lawsuits this week, here's another one for you. Last week, a company called Microlinc LLC named Apple and several other computer companies in a suit alleging patent infringement related to the PCI Express bus. Although a lot of good work has been done already, hackers are still adding useful features and applications to the iPhone. The latest cool addition is an AFP server, which can be used to transfer files to and from your iPhone via a WiFi network. This particular rumor has been kicking around for quite some time, but it's once again being reported that video rentals will soon appear on the iTunes Store.
Get handle on spending for holidays past, future
So you've blown your budget buying Christmas gifts for family, friends and even the neighbor's dog. That's little surprise. It's the American way to spend and spend. The problem is that the trauma of overspending during the holidays can last long after the last of the eggnog has been chugged and the wrapping paper stowed away. That's why you should repair the damage as quickly as possible. .
8 ways to insure your home insurance
Hurricane Katrina swept away all the old rules about homeowner's insurance. These days, filing a single small claim, switching insurers to save a few bucks, or assuming your coverage hasn't changed can expose you to huge financial hardships. A study released this week by the Consumer Federation of America supports what many homeowners have been feeling over the past several years: We're paying a lot more to protect our homes and getting a lot less in return. It's more important than ever to check up on your coverage, so here are eight defensive moves to keep you adequately covered and cut costs. Appraise your coverage
Surveys show that more than half of U.S. homes are underinsured by an average of 22%. Coverage based on generic formulas ($65 to $150 per square foot) won't cut it if you've renovated or failed to account for rising building costs.
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