Word: dollarization
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Obama tapped his professors' support throughout his bid for the presidency for money, connections, and advice. A top-dollar fundraiser held at the Cambridge home of professor David B. Wilkins ’77 in early 2007 not only reunited him with old classmates and Law School professors, but also allowed him to rub elbows with influential Massachusetts Democrats...
...doesn't exactly hail from Ecuador's lily-white élite, is also pleased by the fact that Obama will be America's first black President. "The world likes Obama better too," he adds. "I think he's going to be as popular around the world as the dollar...
Thank the 98-lb. weakling - the U.S. dollar - which, over the past several years, has made foreign travel outrageously expensive for Americans. Today, given the financial crisis, investors see the U.S. as safer than other markets - even though the downturn is largely the responsibility of Americans - and are flocking to the dollar. (Apparently there's no financial penalty for irony...
CANADA Drop in currency value since a year ago: 21% If Canadians didn't want us to make fun of their traditionally weak currency, why did they call it the loonie? A year ago, the joke was on us - a Canadian dollar was actually worth more than its American counterpart. Fortunately, economic catastrophe has reasserted the natural order of U.S.-Canadian relations. From the cosmopolitan charm of Montreal to the amazing skiing of Whistler (and, in between, Saskatchewan), America's neighbor to the north is a great place to spend strengthening greenbacks. Bonus: Global warming will make those biting Canadian...
AUSTRALIA Drop in currency value since a year ago: 28% The Aussies' unoriginally named currency almost managed parity with the American dollar in recent years. Not anymore. The Down Under dollar now gets you only about 66 cents. But that opens the Land of Thunder's many delights to the American budget traveler - once, of course, you mortgage your devalued home for a plane ticket. Round-trip tickets from New York City to Sydney are going for about $1,400. On the upside, when it's winter in the North, it's summer over there. (Except financially - then...