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Word: dollarization (lookup in dictionary) (lookup stats)
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...Currencies have been moving just as wildly. The U.S. dollar continued its surge against the euro by pushing below $1.27 against the European currency Friday - a dramatic rebound from its record low of $1.60 in April. As investors sell out of stocks in other parts of the world they are rushing back into dollar assets, a traditional safe haven. That would ordinarily be good news for Asian and European exporters, whose products have suddenly become more competitive. But with American consumers cutting back spending, there may not be anyone to sell...

Author: /time Magazine | Title: Markets Plunge Again in Asia, Europe | 10/24/2008 | See Source »

...result, we've been able to partially default on our giant debts to the rest of the world without actually defaulting - thanks to the decline in the dollar over the past five years. Chinese taxpayers, whose government holds a lot of that debt, may end up losing as much or more money (as a share of GDP) on the U.S. financial crisis as taxpayers here will...

Author: /time Magazine | Title: The Bright Side of Friday's Dow Drop | 10/24/2008 | See Source »

...people worried, as the U.S. ran up all those debts in recent years, that the dollar would soon lose its status as the world's reserve currency. But since the financial troubles of the past year turned to panic a few weeks ago, the dollar has been rising against the world's other major currencies. There simply isn't a credible replacement, at least not yet. And until that changes, the U.S. will keep getting to export at least part of its financial woes to the rest of the world. As it did today...

Author: /time Magazine | Title: The Bright Side of Friday's Dow Drop | 10/24/2008 | See Source »

...Harvard’s scientists saw the ethical calculus differently, reasoning that their research could provide life-saving medical treatments to millions of people suffering from diseases like Parkinson’s and diabetes. In 2004, University leaders created the multi-million dollar Harvard Stem Cell Institute and started laying plans to give it prime real estate within the new Allston campus...

Author: By Clifford M. Marks and Kevin Zhou, CRIMSON STAFF WRITERSS | Title: Obama, McCain Likely To Back Funding for Embryonic Stem Cell Research | 10/24/2008 | See Source »

...Goldman Sachs, now U.S. Treasury Secretary. Four years later, the SEC complied, amending the rule; the effect was to allow Wall Street to borrow even more money to finance its businesses. At the most aggressive investment banks, leverage ratios reached 30 to 1. That is, for every dollar in equity capital the firm had, it borrowed...

Author: /time Magazine | Title: Living in a World with Less Credit | 10/23/2008 | See Source »

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