Word: dollarization
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Dates: during 1980-1989
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...will America deal with these downturns? In the short run, we will be hindered by deficit-inflanted interest rates, which in turn have created an export-choking dollar, which is taking a hand in making the U.S. a net debtor...
...body passed both a $49 million dollar budget and a supplemental $300,000 budget, which will be used if the city gets the revenue sharing money...
...prime cause of the economic slowdown was the continuing flood of imports. Because the high value of the dollar makes imports less costly, American consumers are favoring foreign products over those made at home. Figures released last week revealed that the current account, which measures trade in goods and services, showed a record deficit of $101.6 billion last year, topping the previous peak of $41.6 billion in 1983. Foreigners have helped finance the trade deficit by investing heavily in the U.S. Because the inflow of foreign money far exceeds American investments abroad, the U.S. may have become a debtor nation...
...whole life in that bank." The financial suffering in Ohio rattled consumers across the U.S. and worried foreign investors as well. In a classic sign of anxiety, moneymen bid up the price of gold by $35.70 last Tuesday, to $339 an ounce. At the same time, the rocketing dollar took a nosedive as traders fretted about the stability of the U.S. banking system and the strength of the economy...
They left the White House, however, determined to carry on the campaign. Reagan, they feel, must agree to defense cuts and take the lead in restraining the huge increases in Social Security and health-care costs. Otherwise, little if anything will get done. The Roundtable has launched a million-dollar effort to rally public support. The U.S. Chamber of Commerce exhorted its members last week to keep the pressure on the Government to cut spending. And when the Republican Senate leadership went to the White House last Friday, the Senators added their weight to the growing pressure for help from...