Anyone who doubts the American "relative" standard of living is falling hasn't been overseas in a while. A weak dollar helps hide import/export imbalances, but in real terms we've dropped a long way.

I'd still rather live here than anywere else in the world, but its depressing to see the dollar so low against everyone else's currencies. Expats see this decline a lot more clearly the rest of us who are insulated here at home.