Word: dollarization
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Dates: during 1980-1989
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...discover new physicals." In fact, many chemists feel -- with much justification -- that the physicists consider themselves intellectually superior. Says Cheves Walling, a Utah chemist who has developed one theory to explain how the cold-fusion experiment might work: "Chemists resent the fact that physicists can get money for multimillion-dollar experiments that could have gone to chemists to do something more useful...
...flee in panic. He stayed. Two months later Washington dispatched 1,300 additional troops to U.S. bases in Panama, hoping their very presence would cow Noriega into submission. It didn't. Then the U.S. imposed limited economic sanctions, designed to choke off the country's cash flow. The dollar shortage fell hardest on Panama's middle class, who began to grumble about unreliable American allies. That allowed Noriega to rally support inside as well as beyond Panama by portraying himself as a victim of Yanqui aggression. In the end, Washington managed only to devastate an economy that was both prosperous...
Have you taken any substantial effort to reduce the trade deficit with Japan? Allowing the dollar to deflate seemed like a good first step, but the effects so far have been minimal. Japanese trade barriers and fundamental weaknesses in our own economy must be attacked vigorously if there is to be any long-term solution...
...bailout to taxpayers but also to avoid undercutting the going rates in the marketplace. Yet the Federal Savings and Loan Insurance Corporation, which currently holds most of the repossessed property and will be combined with the FDIC under the Bush plan, has seldom shown a talent for getting top dollar. In Guerneville, Calif., a small town north of San Francisco, the FSLIC took over a condominium project with more than 20 units two years ago. The original owners had been trying to sell the units a few years earlier for an average of $140,000 each, though market conditions suggested...
...Almost a million net, even before the powder hit the streets, sold by the gram for nearly the same price as cocaine. A lesser cook chortles, "Those people in Oregon are taking everything we can make, and they pay a premium." Adds Big John with the believer's certitude: "Dollar for dollar, crank is better than coke: coke is just a little sexier, but crank goes eight times as far." It is obviously a more profitable line for American traffickers inclined to avoid exporting their earnings to Colombia...