Word: dollarization
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Dates: during 1980-1989
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...lifters for the auto industry, aerospace and other industrial concerns, robotics today is an industrial accident victim, crippled by a two-year slump. Sales of U.S. robots are expected to decline from an anemic $580 million in 1986 to about $400 million this year, miles below those rosy billion-dollar projections. The number of manufacturers that make robots and related equipment dropped from 328 last year to 300 this year...
...current slump does not necessarily signal the demise of American robotics. The industry is expected to perk up again by the end of 1988, partly because of increases in U.S. competitiveness caused by the falling dollar. Struggling American manufacturers have begun to adopt the electronic robot technologies of the Japanese and, like U.S. automakers, are moving their own assembly plants overseas to help cut costs. Above all, U.S. robotmakers have adjusted their own expectations of how the industry will perform in the future. "We're in a solid business with solid growth," says Bruce Haupt, a marketing manager...
...recent drizzly morning, a lot of people expressed similar sentiments. "God bless you," a woman said in a note she dropped into the musician's guitar case, along with a dollar. "Lovely," said others. "Just beautiful." At the end of the day, the guitarist pockets between $40 and $60, his normal take. Then he returns to the fleabag he calls home, takes up his duties as president of the tenants' association and works for better housing conditions. "This is America, isn't it? People don't have to live in squalor...
...presidency and the Constitution. In Robinson's view, Congress has yielded the President some of its power to define policies but has impeded his efforts to execute them. The result: chronic deadlock. A Government thus divided against itself, he writes, cannot stand up to such challenges as trillion-dollar debt and explosive foreign entanglements. His proposed remedies go beyond familiar ideas like repeal of the Constitution's prohibition against members of Congress serving in the Cabinet to far-out notions like the establishment of a council of "100 notable persons" chosen by the President to serve for life and review...
...slump of the once robust dollar has been offset in part by bargain air fares across the Atlantic. Roundtrip tickets to such destinations as Paris, London, Vienna and Frankfurt can be found in some U.S. cities for as little as half the normal roundtrip coach fares. The cheapest tickets, though, are often restricted to certain dates and advance purchase...