Word: dollarization
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Dates: during 1980-1989
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...rise in the prime heralded a new and sustained climb in interest rates. Surprisingly, the stock market, which can panic at even a hint of high interest rates, discounted last week's move in the prime. After plunging early in the week because of the decline in the dollar and concern about a possible U.S.-Japan trade war, stocks rallied strongly. On Friday the Dow Jones industrial average skyrocketed 69.89 points, a new one-day record. The Dow closed at an all-time peak of 2390.34, up 54.54 points for the week...
Part of Kemp's problem thus far has been that he seems more comfortable promoting ideas than selling himself. When proselytizing about his economic theories -- the virtues of tax cuts, the need for currency reform and a dollar "as good as gold" -- he displays the earnest exuberance of a junior professor addressing a pep rally. Beneath the hearty veneer and football-star luster, Kemp harbors a curious personal reticence. When asked what his appeal is to voters, he answers, "I think my ideas are popular, and I think I can articulate them as well as anyone...
Paying interest on the nation's budget deficit soaks up American savings and drives up the value of the dollar, Dukakis said. He cited a U.S. Commerce Department statement that the budget deficit was the "critical element" in producing the $170 billion trade imbalance...
...about a one million dollar gift-certificate to McDonalds and a trip for two to Hollywood? No? Well, how about a sort of layaway plan--say, 10 thou a year for the next hundred years at four and a quarter percent interest...I'll even throw in my new Juice Newton album...
Both Soviets and Americans erupted in laughter when a cartoon figure presenting Soviet conceptions of Americans was shown. Bohr said. One of the caricatures depicted a scantily dressed woman riding horseback on a dollar bill, she said...