Word: dollarization
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...year - but it sure is now (The S&P 500 is currently around 700). *The price of gold would go to $1200 per ounce. I still feel terrific about that. *The price of oil will go to $80 per barrel...I feel good about that. *The US dollar would weaken later in 2009...I still believe that. *The 10-year Treasury yield would rise to 4% (on Monday, the yield was 2.9%.) I'm still going with that. *China will grow 7% in 2009. That growth estimate may be high, but China will definitely see 5% growth. *State and local...
...country's economy have slashed production, unemployment is on the rise - according to the Kiev International Institute of Sociology (KIIS), over 10% of Ukrainians have lost their jobs since the start of the crisis - and the hryvnia has plummeted, shedding over a third of its value against the dollar since last summer...
...jobs in the first place because they know their fields. Forbid such educated people to consult with the companies that develop new medicines and you cut off a valuable source of knowledge. What's more, pharma's largesse also flows to the schools themselves in the form of multimillion-dollar endowments. Whether or not the companies are trying to curry favor, they're also building labs and bankrolling scholarships - something that becomes increasingly important as the deteriorating economy causes philanthropic giving to dry up. No one disagrees that isolating academia from the industry may be ideal, but even many academics...
...today’s superstars living such schedules? True, when Ken Griffey Jr. leaves to play for the Mariners this spring, he will leave behind his sprawling mansion in Windermere, Fla. (recently toured by Pablo S. Torre ’07), forced to content himself with a multi-million dollar condo overlooking Seattle. But, something in this sacrifice has been lost. When Griffey’s more arrogant brethren are turning down $25 million/year deals and wringing team owners for every penny before they agree to play the sport they treasure, it can be hard to identify respectable motives underneath...
...ceiling windows in our room at the new Wynn Encore provides a distressingly clear picture of what's going on in Las Vegas these days. To the south, there's a casino project that has ground to a halt, half built, its steel skeleton an outline of a multibillion-dollar dream gone hungry. Across the street, there's a Modernist chapel, a lonely vigil of virtue on the Strip - people seek salvation elsewhere in this town. Look west toward the mountains and you can trace the Vegas real estate developers' dash toward the horizon with building projects...