Word: dollarization
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...House Committees will raise money for Haiti in different ways in each dining hall. In Eliot, for example, HoCo members will sell Eliot patches for one dollar, according to Eliot HoCo Co-Chair Bryan W. Dunmire...
...tensions with the Soviet Union sharpened at places where systems collided, the same will be true of China: the renminbi is the new Berlin. It needs to be handled with appropriate sophistication by both sides, especially since it reveals a deeper tension. Chinese find it inconceivable that the dollar will be the only global reserve currency in 10 years; Americans find it inconceivable that it will...
...question is whether anything other than a massive, one-off revaluation in the RMB versus the dollar - something that is not in the cards - will have any significant impact on employment in the U.S. or Europe. Economists differ around the edges of this debate, but most agree that a big employment impact is unlikely given a RMB rise of, say, 10% over the next year or two. "The thread between the two [revaluation and jobs] is very, very thin," says Derek Scissors, an economist at the Heritage Foundation in Washington. "No currency revaluation of any feasible size will create more...
...passed, the bill would also make great strides toward closing the state’s multi-billion dollar budget deficit. Simply selling the licenses for the slots and casinos would generate an immediate one-time payment of $75 million to $100 million that would help tremendously in the short term. In the longer term, the state would collect 25 percent of the revenue from both casinos, adding a projected $250 million to $300 million dollars per year to its dry coffers...
A123 Systems is a window on how the government's multibillion-dollar electric-vehicle gambit is working. The company was founded at MIT in 2001 with a $100,000 Department of Energy grant. One of its early products was lithium-ion batteries for power-tool maker Black & Decker. Last year, A123 Systems got a $249 million federal grant to open at least three lithium-ion-battery plants in Michigan that will employ hundreds of workers. Michigan is home to or close to many of the plants where electric vehicles are being made, of course, and the state has a surplus...