To understand what's happening with the dollar right now, you need only walk around the shopping centers of cities like New York and San Francisco. At first glance you'd think that Americans were busy blowing their dollars on whatever they please, but given a closer listen, you'll find these shoppers aren't American at all — they're European.
The New York Times examined the reactions of some Manhattanites who have come down with a collective case of Euro-envy this Summer, as they jealously watch European shoppers have at the city. The dollar's weakness compared to some currencies abroad has allowed travelers earning even modest incomes to enjoy all New York has to offer.
One 30-year-old New Yorker explained his feelings about his purchasing power: "It’s Psych 101 — jealousy. I’m jealous that I can’t go to Italy and buy 12 Prada bags, but they can come here and buy 18 of them." Another woman said her European friends visit New York and treat it like it's Candyland. While some New Yorkers are apparently a little bitter, all of the international traffic can only be good for the economy and for business owners who are able to profit.