Word: dollarization
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Dates: during 2000-2009
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...truly international catastrophe: the tsunami struck 13 countries, killing 226,000 people of 40 nationalities. Five years later, a first-time visitor to the worst-affected countries - Indonesia, India, Sri Lanka and Thailand - might find the wave's terrible path hard to detect, thanks to a multinational, multi-billion-dollar reconstruction effort. Across Aceh, thousands of houses were built with foreign aid in what were once wastelands. In Banda Aceh, the provincial capital, new homes surround a 2,600-ton ship pushed a mile inland by the Tsunami. It is now a tourist attraction. (See TIME's photo-essay...
...what are the sages saying now that 2010 is just around the corner? Plenty. Next year we'll see oil hit $90 a barrel (per Goldman Sachs), unemployment peak at 10.5% (Fitch Ratings), the value of the dollar with respect to the euro and yen hit bottom (Deutsche Bank), 10-year Treasuries yield more than 4% (Bank of America Merrill Lynch) and small-cap value stocks outperform all other categories (Richard Bernstein Capital Management). As for the stock market more broadly? Strategists at UBS expect gains well into the double-digits. The CEO of PIMCO sees a 10% drop...
...student was heading down Massachusetts Avenue toward Garfield Street when two black males, approximately ages 18-20, confronted him and asked him for a dollar, said the report...
...principles matter. The irrepressible "hyper-President" has also long said he judges people (and expects to be judged) exclusively on merit and results. But in October he supported his inexperienced 23-year-old son Jean's bid to take over the public body responsible for managing Paris's multibillion dollar La Défense finance district. To make matters worse, even as the accusations of nepotism grew louder, Sarkozy père described his reforms of France's high school system as guaranteeing that "henceforth, what's necessary to succeed in France isn't being born well, but to have...
...final illusion that really proved Wright to be a master magician. He took a $20 bill which had the name of a Pfoho resident written on it, turned it into one dollar bill, then opened a bag which contained an orange, peeled the orange, and revealed the twenty dollar bill with the student’s name on it. Wright received a standing ovation...