Word: borrowings
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...write in this week, which means that I will be forced to actually do some creative thinking and come up with a topic of my own. Since I haven't an ounce of creativity (that is why, after all, I am a columnist), I think that I will borrow a page from all the movie magazines and newspapers that I have read recently and hold a summer movie roundup. What's worth your paying those outrageous prices at that video store in the Garage to rent? What's the perfect film for that intimate night with your significant other? Read...
This scarcity is partly due to the disappearance of lenders who were among the largest providers of capital to the world during the 1980s. One of these is Germany: unification has required it to borrow tens of billions of dollars abroad to rebuild its eastern sector. In Japan a severe recession and the collapse of the country's financial markets have forced banks and companies to all but halt new overseas investments. And oil-rich Arab states like Saudi Arabia, which once exported capital, are borrowing heavily to finance arms purchases in the wake of the Gulf...
...disappointment. The playing is broad, not all the references travel well, and seeing two middle-age women get tipsy -- and even falling-down drunk -- can quickly become tiresome. Still, the show delivers risque humor (Patsy to Edina: "Have you got some knickers I can borrow, sweetie? I didn't get home last night"). Trendiness is neatly skewered (Edina's into aromatherapy, reflexology and rebirthing). And the stars are abfab. Jennifer Saunders, who writes the show and plays Edina, can evoke both laughter and sympathy just belly-sliding down a flight of stairs. And Joanna Lumley is delicious as Patsy, ogling...
...before it turns its former command economy into enough of a market economy to join the club. The seven would not put up any more of their own money for aid to Moscow, either. But they were amenable to an arrangement that would permit Russia to borrow some additional billions from the International Monetary Fund...
Countries that borrow and consume too much are destined to lose out, and a cheap currency cannot save them in the end. Eighty years ago, the world's most powerful currency was the British pound sterling, which enjoyed the same almighty reputation as the dollar once did. But the country's post-World War II collapse sent the pound reeling, and while further declines in the currency have occasionally boosted British exports, Britain is no longer the prosperous place it once was. Any visitor can see that...