Word: cheaping
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Dates: during 2000-2009
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...continue to buy increasingly large amounts of U.S. debt. This provides the U.S. with an indirect funding source to prop up its banks and brokerages, but it's a compromised solution. After all, the willingness of central banks to lend almost without limit to America helped create this mess. Cheap money from abroad suppressed U.S. long-term interest rates, helping to set the stage for the housing bubble and its catastrophic collapse. Continuing such inappropriate monetary and exchange-rate policies feeds more asset bubbles in emerging economies as well as global inflation...
...first round of recapitalization, SWFs took small (less than 10%) stakes in financial giants including UBS and Citigroup by purchasing preferred or convertible shares without voting rights. In return, the funds got fairly high interest payments and the chance to buy into institutions at what they thought were cheap prices. They've since suffered losses on the order of 30-50%. SWFs might be wary of coming back for more unless they get more control, along with greater opportunities for synergies between Western banks and their own domestic financial systems...
...site of the sprawling house he is having built overlooking a small lake. Proudly showing off the view from the second floor, Lu extols the virtues of living in Songzhuang. "All my friends and colleagues have moved here, so we can get in contact easily. And it's cheap here too. This whole house is only costing me $800,000 to build. Imagine what I would get for that in New York. Nothing...
This time the disillusionment started in a neighborhood pub. I met up with a friend there, one with whom I hadn’t had much contact in a while. At first, all was well. The beer was cheap! It was good! My friend was also growing a beard! But then the empty pint glasses started to add up. Something in me turned, and nothing seemed right. This friend—a smart, funny, creative young guy—was still in Portland, living with his parents. As far as I could tell, he wasn’t doing much...
Plus, the beer’s cheap in Portland. And my beard’s always welcome. —Jake G. Cohen '09, a Crimson arts chair, is a History and Literature concentrator in Leverett House...