Word: dollarization
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Dates: during 2000-2009
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...worry of central bankers is how a softening dollar could impact a global recovery. Countries that have currencies strengthening against the dollar face the prospect that their exports would become pricier in world markets, a situation policymakers wish to avoid as their economies are just now crawling out of recession. China, one of the world's largest holders of dollars, doesn't appear likely to allow its currency, the renminbi, to significantly appreciate against the dollar any time soon, despite increasing political pressure from Washington to do so. China's Commerce Minister, Chen Deming, said at the recent Canton Trade...
...These sources of support may not last forever. Warren Buffett warned in a New York Times editorial in August that the unrestrained buildup of U.S. government debt - and the likely need to print money as a result - would inevitably undermine the dollar's value. "Unchecked greenback emissions will certainly cause the purchasing power of currency to melt," the sage of Omaha wrote. "The dollar's destiny lies with Congress." Richard Portes, a professor of economics at the London Business School, believes that central banks will increasingly see other currencies, especially the euro, as more reliable storehouses of value. "The idea...
...have been arguing that the stimulus bill, which most economists credit with speeding economic recovery, has only made matters worse on the job front, with October's numbers showing that the economy is continuing to shed jobs. "It's bewildering to see the same Administration that sold its trillion-dollar spending plan this spring as a guarantee against 8% unemployment claiming it created 1 million jobs, especially since it is a sad fact 3 million jobs have been lost since the stimulus was signed into law," said Senate Republican leader Mitch McConnell on Thursday, Nov. 5. See 25 people...
...Film Office website reads: “Studios, producers and filmmakers–who either shoot at least half of their movie or spend at least half of their production budget in the Commonwealth–are eligible for a tax credit equal to 25 cents for every new dollar of spending they bring to Massachusetts...
What’s more is that a recent Massachusetts Department of Revenue report stated that the tax break program is not nearly as economically simulative as once thought. In what looks to be quite unfair to Massachusetts taxpayers, the government is only receiving about 16 cents on the dollar for their investment in Hollywood. According to the report, over 80 percent of tax breaks on actor and crew salaries are paid to out-of-state workers...