Word: braziller
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Dates: during 1980-1989
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There are limits to how far foreign investors can back away from American investment opportunities these days. The U.S. has become a megadebtor like Brazil and Mexico: American obligations are so great that creditors must help extend U.S. indebtedness to avoid damage to their own economies and investments. With Japanese domestic savings estimated at $1 billion or so a day, there is simply no other non-Japanese financial market large enough to absorb the sums available for investment. Besides, the current yield of long- term Treasury bonds (more than 9%) is roughly 3 percentage points higher than that paid...
...chairman Michael Murphy cheerfully admits, "Esalen's reputation gets better the farther away you go." These days up to half the people who stay for a season or two, paying their way as work scholars, are foreign grandchildren of the revolution, come here from West Germany, Switzerland, Argentina or Brazil for a dose of good old-fashioned American Utopianism. Sleeping four to a room, working on the community farm or helping out at its school, they drift around the place in peasant skirts, dreamily smiling and strumming guitars in the sunshine. "In Esalen, I find all the joys of paganism...
...York City in 1982, restaurateurs are playing to the enduring dream of an island paradise that has beguiled such disparate spirits as Gauguin and Gilligan. The idea is to create a Caribbean state of mind, drawing inspiration from Key West to Trinidad, with occasional wide detours to Brazil and Mexico, and stressing decor and drinks. The palette runs to hot pink, orange and turquoise that sparkles even in drinks made with blue curacao -- concoctions that may look suspiciously like Windex to the uninitiated. Frozen in slush machines, the rainbow drinks of tropical fruits and assorted rums, vodkas and liqueurs sport...
Though the hosts were doing too much of the winning, sweet sentiments of this kind abounded. One-Woman Basketball Team Hortencia Marcari of Brazil was an object of general delight, and, venturing into the stands once to protect their flag, the Cuban boxers brought an awesome presence to the final week. It seemed everyone's Pan Am hero though, Anglo and Latin, was a lefthanded baseball pitcher born with one finger on his right hand. The University of Michigan's Jim Abbott, 19, carried the flag and led the U.S. team in the opening ceremonies at the Indianapolis Motor Speedway...
...meetings have happy outcomes. Last week, for example, Brazil discomfited fellow club members by suspending payment on more than $1 billion of debt principal owed to governments. But the moratorium, which had been widely expected, will not affect this year's interest payments to the club of about $242 million...