Word: dollarization
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Dates: during 2000-2009
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...Obama tapped his professors’ support throughout his bid for the presidency for money, connections, and advice. A top-dollar fundraiser held at the Cambridge home of Professor David B. Wilkins ’77 in early 2007 not only reunited him with old classmates and Law School professors, but also allowed him to rub elbows with influential Massachusetts Democrats...
CANADA Drop in currency value since a year ago: 21% If Canadians didn't want us to make fun of their traditionally weak currency, why did they call it the loonie? A year ago, the joke was on us - a Canadian dollar was actually worth more than its American counterpart. Fortunately, economic catastrophe has reasserted the natural order of U.S.-Canadian relations. From the cosmopolitan charm of Montreal to the amazing skiing of Whistler (and, in between, Saskatchewan), America's neighbor to the north is a great place to spend strengthening greenbacks. Bonus: Global warming will make those biting Canadian...
AUSTRALIA Drop in currency value since a year ago: 28% The Aussies' unoriginally named currency almost managed parity with the American dollar in recent years. Not anymore. The Down Under dollar now gets you only about 66 cents. But that opens the Land of Thunder's many delights to the American budget traveler - once, of course, you mortgage your devalued home for a plane ticket. Round-trip tickets from New York City to Sydney are going for about $1,400. On the upside, when it's winter in the North, it's summer over there. (Except financially - then...
SOUTH KOREA Drop in currency value since a year ago: 30% For South Koreans, the current economic meltdown has a sickening familiarity. During the 1997 Asian financial crisis, the South Korean won lost 52% of its value against the dollar. Things haven't gotten that bad yet in 2008, but there are still plenty of sudden bargains in the Land of Morning Calm, long an unjustly ignored travel destination. Bewildering Seoul boasts dramatic mountains, spicy street food and gorgeous royal palaces. Beyond the capital - where almost half the country lives - South Korea has arty port cities like Busan and cultural...
...sand dunes of Scotland's northeast coast have a rugged, unadorned beauty and understated elegance. So when Donald Trump flew his private Boeing jet into Aberdeen airport in 2006 and announced, with typical Trumpian bombast, that he intended to construct a billion-dollar-plus development on the dunes that would include the "greatest golf course ever constructed," he set the stage for a protracted conservation battle that on Monday reached the highest level of Scottish government...