Word: dollarization
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Dates: during 1980-1989
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...Wall Street turned negative on the company's stock. Shares of TI, one of the world's largest manufacturers of silicon chips, dropped 40 points in one day, trimming nearly $1 billion from the company's paper value. On the heels of Atari's multimillion-dollar loss last quarter, it looked as if one segment of the computer revolution was wobbling...
...probably due less to the merits of the government than to the fact that the industrial crisis has touched bottom. I think that the way the peseta has been holding its own in relation to other European currencies is reassuring. I'm not referring obviously to the dollar, which is going through the clouds. We have made great efforts to contain the budget deficit, which gives us hope from the macroeconomic point of view...
...recovery and worries about the problems in international finance caused by huge debts in developing countries have been adding strength to the notion of keeping Paul Volcker on the job. In the financial community Volcker is regarded as something of a demigod because he brought down inflation, strengthened the dollar and set the stage for the euphoric bull market in stocks that began last August. Nearly 80% of 702 executives polled by the investment firm A.G. Becker Paribas gave their vote of confidence to Volcker, with Alan Greenspan a distant second at 5.8%. Monetarist Milton Friedman got only 5.5%, Treasury...
...verge of a financial crisis when Paul A. Volcker became The U.S. was on the verge of a financial crisis when Paul A. Volcker became Federal Reserve Board chairman in August 1979. Inflation was roaring ahead at an annual rate of 13%, and the dollar was sinking on international money markets. Worldwide confidence in the Government's ability to manage the American economy had seldom been lower. Today inflation has slowed to less than 4%, and the dollar has become the world's strongest currency. Many experts attribute that remarkable turnaround largely to Volcker. Says Harvard Economist Otto...
Another Dempsey contribution to language was "million-dollar gate," his 1921 knockout of Carpentier at Boyle's Thirty Acres in Jersey City being the first. In an unusual result for fighters of any day, he kept some of the money. Before settling into the window table at Jack Dempsey's Broadway restaurant in Manhattan, he tried a little barnstorming, some refereeing. Always he was available to bat out an occasional dilettante, like Writer Paul Gallico or Financier J. Paul Getty. After he closed the restaurant in 1974, Dempsey returned full time to being heavyweight champ...