Word: dollarization
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...midst of a cleanup of toxic financial waste that will cost taxpayers hundreds of billions of dollars, at the very least. The primary manufacturers of these hazardous products pocketed multimillion-dollar paychecks for their efforts. So why aren't we making them...
...belong to no organized party. I am a Democrat." But these are serious times: the same day the Senate convened with two Democratic seats unfilled (comedian Al Franken's microscopic margin of victory is being contested in Minnesota), Obama announced that the nation could soon face a trillion-dollar deficit. Instead of serious leadership, Congress gave us the Burris showdown--in which gall challenged sanctimony while insincerity vied with incompetence...
...month. True, access to health care is free, but the elderly still have to purchase medicines, which are often missing or in short supply in pharmacies and may only be purchased with “convertible pesos”—Cuban currency, equivalent to dollars or euros—used to purchase goods or services at international prices that are quoted also in euro or dollar equivalents. The elderly must also buy food, yet the rationing card covers only about half of a month’s supply of food, so convertible pesos are needed as well...
...Still, it's unclear whether intervention will be necessary. Some argue that the dollar-yen exchange rate is reaching a sustainable equilibrium and that the yen isn't as strong as it appears. "The yen's level until last year was abnormally weak," says Tohru Sasaki, chief currency strategist in Tokyo at JPMorgan Chase & Co. "Now it's coming back to normal...
...Sasaki argues that, compared with a period in the mid-1990s when the yen hit a postwar peak against the dollar, today's negative impact on the Japanese economy is "not that large." That's because the U.S. over the past decade has seen higher inflation than Japan, where prices have been relatively flat for many years. To have the same effect as the peak in 1995 - when the exchange rate reached 79.75 yen to the dollar - Japan's currency would have to soar to 48 to the dollar, he says. "If we think about the inflation-rate differentials...