Word: dollarization
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...need to add one thing to your equation. Oil is traded in U.S. dollars. So a weak dollar allows other countries to buy more oil, which in turn drives the price up. Strengthen the dollar, and make a barrel less attractive. Charles Shields, Knoxville, Tennessee...
...owners who still own are getting nailed with huge condo fees to make up for the lost revenue. Florida banks repossessed 620% more property last year than in 2006, and they're starting to unload nonperforming real estate loans for as low as 30¢ on the dollar. Miami topped a recent list of America's worst housing markets, just ahead of Orlando, with Tampa fourth. From 20% to 40% of the speculators who waited on lines to buy preconstruction condos during the boom are expected to walk away from those investments before closing; many are turning to a new cottage...
Forget peanuts or pork scratchings. Bars these days are competing for the drinker's dollar with increasingly imaginative food - and the global trend toward smokeless venues is creating pleasant environments in which to savor it. In Singapore, a cluster of gastrobars, as they're called, are becoming dining destinations in their own right, dishing out the likes of o-toro sashimi and Boston lobster to famished partygoers...
...Rich is a cautionary tale. Dennis is the first to tell you that you and your loved ones will pay a price for compulsively pursuing the almighty dollar (or the more valuable pound). The author, a lifetime bachelor, confides that his preoccupation with chasing money "led me into a lifestyle of narcotics, high-class whores, drink and consolatory debauchery...
...nation was also alarmed by the two oil shocks, which exposed its vulnerability to the global oil market. A consensus formed that Japan needed to balance growth with greater conservation, and a nationwide effort was launched to reduce energy use and clean up the environment. The result: for every dollar of GDP generated, Japan uses only one-eighth as much energy as China. "Japan was a front runner in economic development in Asia and suffered some bitter experiences," says Ichiro Kamoshita, the nation's Minister of Environment. "Japan wants the countries that are now trying to develop to become prosperous...