Is the strong dollar a good thing?

Yes and no. If you're planning on taking a vacation abroad the dollar will go farther. If you buy imported goods they may become cheaper. But if you're an American manufacturer or service provider hoping to sell products and services overseas you may find yourself edged out by cheaper local competitors.

Another concern is that commodities -- oil, copper, corn, etc. -- are priced in dollars. As the dollar continues to rise foreign countries will find these increasingly more expensive. They'll either try to buy less of them or raise prices to reflect the increased cost.

A strong dollar is a double-edged sword.