Word: dollarization
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Dates: during 2000-2009
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...debt can lead you into ridiculous purchases: "My gym visits are now followed by eighty-dollar tennis lessons; my Dr. Bingblatz sessions are now followed by one-hundred dollar facial sessions, administered by a masked woman with a steam wand and a tweezer, who removes my blackheads one by one...I'm impressed that this service even exists. How do these leisure economy capitalists do it? How do they calculate the exact moment at which people are suddenly prepared to pay a hundred dollars for an hourlong blackhead-squeezing session...
...full of status-obsessed grifters like himself. Whether it's sneaking into Michael Jackson's Neverland Ranch or finagling his way into a studio exec bash, Ayres simultaneously spits on and revels in the all-consuming shallowness of his time and place: gargantuan SUV's, gated communities, multi-million dollar homes and hot-bodied ladies...
...Securities and Exchange Commission (SEC) filed charges today against high-flying Houston-based financier R. Allen Stanford for orchestrating what it calls a multibillion-dollar investment fraud of "shocking magnitude...
...purchase. Therefore, Lone Star had limited risk, which is similar to the way funds would have limited risk buying bad securities with government backing. But the most important part of the deal was not Lone Star's risk; it was the price. Lone Star paid 22 cents on the dollar. This means that Merrill Lynch had priced its asset-backed securities somewhere around 22% of their original value...
Andre the Giant, Barack Obama, Andy Warhol, Flavor Flav, Noam Chomsky, and the dollar bill have one thing in common: at different points in time they have all been made into a Shepard Fairey image. A street artist whose mixture of black, red, white, and, most recently, blue in stylized swaths makes his images instantly recognizable to the initiated, Fairey has peppered the walls of buildings, electrical boxes, and street signs for the past 20 years with stickers and posters. The text accompanying the images dares the observer to “obey,” seeking to prompt passersby...