Word: dollarization
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Dates: during 2000-2009
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...that he hasn't changed his tune--and it isn't a pleasant tune to listen to. He thinks the "phony economy" of the U.S. is headed for even harder times. He believes that the crisis-fighting measures coming out of Washington are merely delaying the inevitable, debasing the dollar and loading future taxpayers with huge debts...
...while laying a foundation for even greater progress in the future - and for the international power that economic prowess can bring. Nationalist voices in the media are already framing the crisis as a transformational moment in China's rise and the decline of the U.S. "They've criticized the dollar and asked for a new global reserve currency. They've criticized the U.S. role in the International Monetary Fund," says Beijing-based China scholar Russell Leigh Moses. Premier Wen Jiabao recently pleaded with Washington to safeguard China's investment in U.S. bonds, which will decline in value if the dollar...
...consumers cut back on spending, the famed chef and author of Lidia's Italy zeroes in on one way to stretch your food dollar...
...Captain Crunch after discovering in 1972 that he could fool AT&T's network with the tone from a plastic whistle distributed with the breakfast cereal. Computer hacker Kevin Mitnick became a top target for the FBI for breaking into academic and corporate computer systems and causing millions of dollars in damage; after years eluding capture, he spent half a decade behind bars in the 1990s and was ordered to stay away from computers for three additional years. The "Melissa" and "I Love You" viruses of the late 1990s and early 2000s drew widespread attention to expanding cyberthreats and jump...
...Picard, the New York-based lawyer who could have easily doubled for actor Frederic March in film Inherit the Wind, is at the turbulent center of the post-Madoff world, a world that includes multi-billion dollar feeder fund lawsuits, multi-million dollar deals with international banks, and, less grand, the issuing of multi-hundred thousand dollar checks to the nearly 7,000 direct account holders caught up in Madoff's massive Ponzi scheme. (See pictures of the demise of Bernard Madoff...