The euro-vasion

With the markets in a swoon, marquee assets are on sale in the US. And, with the drop in the dollar, the valuations look even more compelling. Something else: the surge in commodities -- especially in oil -- is bulging the assets in mega sovereign wealth funds.

In fact, even US icons are under attack, such as Anheuser-Busch Companies Inc. (NYSE: BUD), which is fending off a hostile takeover from Belgium's InBev.

True, there is some good news. For example, our domestic companies will have an edge with exports (it seems that this has saved us from a recession -- at least so far). But, alas, it is little consolation.

Perhaps the most effective way to boost the value of the dollar is to increase interest rates. However, this will be a tough thing to do -- in light of the upcoming election, the housing sump and continued economic weakness.

In other words, US assets should remain cheap. And, foreign buyers can't ignore this. So, it's a good bet that we'll see more and more dealmaking from overseas.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.