Word: dollarization
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...Without the energy revolution that the IEA says is necessary, oil prices will rise by 2020 to about $100 a bbl. in pre-2008 dollar values and by 2030 to about...
...potential increases in U.S. stimulus spending even as other economies start to withdraw their programs and tighten monetary policy bring more uncertainty to the prospects for the global economy. One early casualty is the U.S. dollar, which has weakened significantly against most other major currencies. A continued fall appears likely as investors park their capital in Australia and elsewhere, because interest rates are trending higher there and economic growth is far more robust than...
...weak dollar is helping America's exports. But it is also spooking holders of U.S. debt, whose continued purchases of U.S. Treasury bills allow Washington to fund its deficit spending. Last week, the International Monetary Fund (IMF) announced that the Reserve Bank of India had bought 200 tons of IMF gold reserves, the biggest single purchase by a central bank in 30 years. That pushed the price of gold past $1,100 an ounce, the latest record breaker in a string of new highs, as the market anticipated gold buying by other central banks to hedge against a falling dollar...
...small nations alike. Even Switzerland has not escaped the carnage. Its unemployment rate is at its highest for more than 11 years, and those fathomless repositories of Swiss-ness, the banks, are reeling from their exposure to sub-primes and credit markets. Switzerland's two biggest banks needed multibillion-dollar bailouts - UBS with public money, Credit Suisse with private - and, like bankers everywhere, they face the rage of ordinary people. In August, a civil action by the U.S. Internal Revenue Service forced UBS to reveal the names of thousands of tax-dodging Americans with bulging Swiss accounts. (See pictures...
TIME cites the "paradox" that women are still unhappy, even with all their current "equality." Then it states that the poll showed women often contribute to household income yet take on more of the responsibilities for the household, children and sick or elderly parents, while earning 77¢ on the dollar compared with men. Maybe there's a correlation...