Word: dollarization
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Dates: during 1980-1989
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...machine only accepts change--exact change at that. No fives, no ones and no change machines for five dollar bills. Quite often, the dollar bill changer is broken too, meaning that to use the machines, you must be carrying around 17 quarters, a dime and a nickel...
...machine that accepted five dollar bills and returned a book of stamps and 60 cents change probably made too much sense to the U.S. Postal Service. Besides, making any dealing with the postal service more convenient would ruin an American tradition...
...months. In September 1985 the so-called Plaza Accord on exchange rates was hammered out between Treasury Secretary James Baker, architect of the agreement, and the finance ministers of Japan, West Germany, France and Britain. It provided for a gradual and orderly decline in the value of the dollar, which had reached a peak in February 1985. Before last week, the dollar had dropped 28.7% against other major currencies...
...theory was that the weaker dollar would eventually cut into the U.S. trade deficit by making foreign imports more expensive and U.S. exports more competitive. Last week U.S. Treasury Department officials were claiming that something like that had indeed happened. The trade deficit, said one, "has leveled off and is showing signs of improvement...
...Harvard Square, a hive of cigarette-filled psuedo-bistros and bullshit conversation, the mug of coffee is no longer an un-self-conscious staple of a social gathering. Instead, it is the dainty focus of 1980s pretention--tiny china thimbles of eight-dollar espresso, or perhaps Ethiopian Harrar for the poseur with an international social conscience...