Nov 18, 2008

US Currency Has Lost Its Bling

Since 2007 the dollar has been in steady decline. Against the £ the dollar has fallen from a low of £1 = $1.45 to close to the £1 = $2 mark. Against the Euro the $ has also depreciated from 0.85 to the present level of 1 Euro to $1.35.From several perspectives the fall in the value of the dollar appears to be following basic economic fundamentals and whilst these imbalance continue the dollar may continue to fall.

We set a $5 bill free on the streets of London, during the lunch rush, hoping to get a “snatchy.” No luck. Minutes and hours went by with not even a peak at the lonely Lincoln. Our producer advised us to place candy around the bill. Still no takers. We asked one of the locals why the reject for US currency? She simply stated, “I don’t bend over for anything less than a $50.”

War on Cans







Members of the homeless community are outraged! Once upon a thriving economy, it was the homeless who had first dibs on cans found in the trash. Strolling along residential areas, they'd push their stolen grocery carts in search of shoes that fit, free food and recyclables to cash in. Now, with the economy heading into a recession, everyone is hauling ass to grab as many cans as possible.



Herald is a homeless man living in the mean streets of Beverly Hills. He had this to say about the battle of arms for aluminum. "These used to be our streets! Now we have to fight with rich White people to get the good cans." With companies like California Aluminum offering $1.65 per pound, Herald used to make between $75-$100/ month. Today, he's lucky if he can wrangle enough up for much needed dental work.


We interviewed some local for their comments on the growing recession. "Hey, first come first serve!"