Word: dollarization
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Dates: during 1980-1989
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...pressure to keep the multimillion-dollar jets and their paying passengers moving is high at most airlines. Contends Galipault: "People in this business are asked or told to do things they know are not only wrong but dangerous. Then they have to ask themselves whether to sell out and save their job or risk it for what they know is right and safe." For too many, the choice appears to be difficult...
...issue at stake is, quite simply, the well-being of the U.S. economy. The outcome of the budgetary wrangles could have a profound effect on taxes and take-home pay, interest rates and the cost of a house, the health of the stock market and the value of the dollar...
...productions in around the country. Big time producer David Geffen found himself drawn to the tale, and hired Muppeteer-turned-director Frank Oz to return it to the screen. Today this absurd story, which once could rate only a black and white exploitation picture, is a multi-million dollar showcase for the insidious Saturday Night Live/SCTV crew that has dominated youth comedy for a decade...
Many economists believe that 1986 may have been the turning point for the most pressing U.S. economic problem of all: the trade deficit. That gap was largely the result of a U.S. dollar that became too strong during the early 1980s and thus made foreign products overly cheap in the U.S. and American- made merchandise expensive overseas. The high-flying dollar created an almost insurmountable handicap for U.S. manufacturers of everything from earthmoving equipment to microchips. Just as painful was the situation down on the farm, where growers were stuck with record grain surpluses partly because they were unable...
...sharp decline in the dollar that began in early 1985 and continued through most of 1986 gave exporters hope that their business would soon revive. "We've got a real chance that America can compete again," said General Electric Chairman John Welch in February. But the trade imbalance proved immensely stubborn until the end of 1986, when economists at last began to see a moderate increase in U.S. exports. They generally estimate that the trade gap will hit $170 billion for 1986, a record total, but could fall to about $140 billion...