Word: dollarization
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...ignored as long as things seem prosperous, but there have been signs of increasing worry lately. Just paying the interest on the national debt now takes $143 billion, much of it going to foreign banks that can call in their loans whenever they begin to mistrust the dollar. Worriers also fret that the trade deficit has climbed to a scary $145 billion or so annually. Meaning that it is now the U.S., not Mexico or Brazil, that is the world's biggest debtor nation. And banks keep crumbling (120 of them went under last year). This does not mean that...
...forecasting moderate growth for next year, board members assumed a continued downward drift in the foreign exchange value of the dollar. The U.S. currency has already fallen 17.5% since it peaked last February. The highflying dollar was the primary cause of a huge trade deficit because it made American exports expensive for foreigners and imports cheap for U.S. consumers. Last week the Commerce Department reported a $33 billion shortfall between America's exports and imports for the third quarter. By year's end the trade deficit will probably reach $145 billion. As the dollar weakens, the deficit should diminish. Said...
...board credited Government intervention in the currency markets with facilitating the dollar's recent depreciation. On Sept. 22 the U.S. reached an agreement with Britain, France, Japan and West Germany to help drive down the value of the dollar. Said Rimmer de Vries, chief international economist for Morgan Guaranty Trust: "The intervention has been extraordinarily well timed." The dollar has dropped 7.6% since the agreement was announced. Still, the board cautioned, the dollar must decline by an additional 10% to 15% in order to narrow the yawning trade...
...world of high finance, where an elite group of Wall Street dealmakers commands million-dollar fees for putting together megadollar agreements, Felix Rohatyn is the first among equals. As a senior partner at Lazard Freres, a New York investment-banking firm, he has presided over hundreds of mergers and acquisitions. In October, General Electric Chairman John Welch and RCA Chairman Thornton Bradshaw started talking about a merger over drinks at Rohatyn's Manhattan apartment...
...spectacular spate of mergers, acquisitions and takeover wars that have transformed the U.S. economy in recent months and become matters of grave concern in American boardrooms, courtrooms and legislatures. In 1985 companies were acquired, wholly or in part, at the frantic rate of eleven a day. When the dollar value of those deals is finally totted up, it is certain to surpass the record $125 billion reached in 1984. Says Democratic Representative Timothy Wirth, who chairs a House subcommittee that has been studying acquisitions: "These mergers and takeovers are having as profound an impact on the American economy...