Word: dollarization
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Dates: during 2000-2009
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...Stephenie Meyer phenomenon has now taken in $230.7 million in North American theaters, according to studio estimates. That makes it, after just 10 days, the sixth highest-grossing movie of 2009. New Moon has amassed even more abroad, $243 million, which suggests it will cross the half-billion-dollar worldwide mark in its first two weeks. Not bad for an upstart indie distributor, Summit, and for a movie that cost just $50 million to produce. (See pictures of the New Moon actors...
...Dubai debacle triggered immediate concern about a new wave of financial problems rippling through global markets. Stock-market indexes plummeted, the cost of insuring against a default by Dubai jumped and the dollar strengthened as investors rushed back into greenbacks. On Friday afternoon, stock markets made something of a recovery as analysts took a second look at what Dubai's proposed repayment halt means. Eighty billion dollars - Dubai's total liabilities - may sound like a lot of money but in the context of the past year, it's not huge. And while banks like HSBC and Barclays have billions...
...sign of this trend: PayPal reported a 25% increase in the dollar volume of sales on Thanksgiving Day from the same day a year ago, according to Amanda Pires, senior director at PayPal. The online pay site is used by consumers to make purchases at online retailers and at its sister site, eBay. (See the best tech gifts...
...Similar price battles have been launched in toys and electronics, with Walmart's chief merchandising officer, John Fleming, proclaiming, "We're going to be the price leader for this holiday season." Best Buy's executive vice president of customer operating groups, Mike Vitelli, says his company will match competitors "dollar for dollar." (See 10 big recession surprises...
...troops currently in Afghanistan. "If this war is important enough to expand and fight, then it ought to be important enough to pay for," Representative David Obey, a Wisconsin Democrat who chairs the House Appropriations Committee, tells TIME. "If we don't, we run the risk of devouring every dollar that would otherwise be used to rebuild our own economy." He argues that the domestic initiatives of both Harry Truman and Lyndon Johnson stalled because of the wars in Korea and Vietnam. "We don't want that to happen again," Obey says...