Word: debts
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...That strength turned out to be temporary. A ballooning U.S. budget deficit and escalating government debt has made the dollar currency non grata in many quarters once again. An index that measures the greenback's value against a basket of major currencies, including the euro and yen, has fallen about 15% from a three-year high reached in March and is now hovering near a 14-month low. Economists and analysts expect the dollar to lose a lot more ground. Daisuke Uno, chief strategist at Japan's banking giant Sumitomo Mitsui, believes the Japanese currency could strengthen...
...These sources of support may not last forever. Warren Buffett warned in a New York Times editorial in August that the unrestrained buildup of U.S. government debt - and the likely need to print money as a result - would inevitably undermine the dollar's value. "Unchecked greenback emissions will certainly cause the purchasing power of currency to melt," the sage of Omaha wrote. "The dollar's destiny lies with Congress." Richard Portes, a professor of economics at the London Business School, believes that central banks will increasingly see other currencies, especially the euro, as more reliable storehouses of value. "The idea...
...meantime, the Lebanese population has been left alone to fend off national threats such as the H1N1 epidemic, inflation, and national debt. Fraud, corruption, and poverty are also plaguing the country, and the situation is bound to get worse if political activity is not restored. Politicians need to sacrifice their personal gains for the good of the country. So far, the recipe for a government has proved to be far more difficult than that of hummus...
Joseph Stiglitz, the Nobel Prize-winning economist, argues that a single-minded fixation on growth masked the warning signs of the financial crisis. Temporary profits in the financial industry, increasing debt loads, and the real estate bubble all contributed to a false rise in our economic measurements. (See how Nobel winners spend their prize money...
...meantime, FlyBy is sifting through a wallet full of void purple "Boomerang Gift Certificates," good for $1 off on any next visit to Herrell's, saddened by Herrell's obvious debt default...