My latest fear is about the stablity of American dollar. Even though the dollar has gone down significantly vs the Euro, the chances of the dollar and euro both going down against some of the asian currencies seem quite high.

Why should the dollar go down. To begin with, dollar was priced so high because of the demand for it. Now that America has moved from a producer to a consumer nation, the dollar continues to be high supported by demand from Chinese and Japanese investors in the American treasury.

The whole thing seems so unreal. Chinese labor toiling hard to produce things which an american can lap up in a blink of his eye just because of the currency rate imbalance. I think equilibrium is nearing.
Maybe I am panicking. Maybe the situation is not so bad. American companies own a lot of worldwide business and would continue to repatriate their profits back.

Let us wait and see.