Word: dollarization
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...Call it the Huber-Howell project, and we’re ready to drop some D’s on this hoe. If you want to ride on this pain train, betta buy yo ticket. For $9.95. No C.O.D.’s. Twenty dollar value...
...economic crisis. In an address on the economy last Thursday, he said, “we need to act boldly and act now to reverse these cycles.” Regrettably, his proposed action, the American Recovery and Reinvestment Plan, falls well short of bold. A $775 billion dollar bill might be the best way to win bipartisan support, but threatens to leave our economy in recession for years, sell the American people short, and tarnish Obama’s presidency...
...take office as both chambers attempt overrides of the veto. Such a situation might force Obama to expend some of his political capital on fixing the holdover problem, and it could drain support for what he prefers to be concentrating his time and energy on: a potentially trillion-dollar stimulus bill. That too, of course, is essentially another bailout, but it's directed at Main Street, so the President-elect can count on a little more gratitude from the American public. If he can't spend his entire inaugural week celebrating, that's the least he can expect in return...
...next move on to more formal manipulations. When trying to comprehend a trillion-dollar deficit, you might calculate how much money that represents per person in the U.S. One trillion dollars divided by 300 million Americans comes out to $3,333. Then you search for a useful comparison. A convenient - though perhaps unsettling - comparison is to the amount of credit-card debt carried by the average person in this country. That figure is $3,245. "So a good way of thinking about government debt financing is that it's similar to what the average person is doing," says Camerer...
...hour, 21 minute flight home for Christmas, it sounded utterly delicious. “Excuse me, sir,” said the flight attendant. “Would you like some lunch today?” For a moment, I was disoriented—there was no five dollar price tag attached to the offer, only an enticing lunch box on her outstretched arm. And I had been addressed politely, an antiquated notion of civility other airlines had led me to give up on. Further surprising me, the attendant returned after lunch for a second time with a beverage cart...