Word: dollarize
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Dates: during 2000-2009
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...something funny happened as the Europeans smugly watched the American behemoth stumble: the not-so-almighty dollar began to rise. Since mid-July the greenback has gained more than 16% against the euro. And why? Because for all its troubles, the U.S. still looks like a safer and ultimately more profitable haven than Europe, with its irreducible jobless rate of about 8%, or those trendy emerging markets that have now crashed back to earth. You would have thought the U.S. would be hemorrhaging trillions by now; instead the rest of the world is learning to love its currency again...
Topping Roberts' list of challenges: calling Verizon's and AT&T's billion-dollar bets on delivering TV service through fiber-optic lines. Verizon has signed up 1.4 million video subscribers, a good many of them in the Northeast, where Comcast rules. By 2010, Verizon expects its video, phone and Internet effort, dubbed fios, to reach 18 million households. AT&T is following along the same track, while EchoStar and DirecTV continue to add satellite-video subscribers...
...helped Buell boost U.S. sales 15% over the past year, even though the motorcycle industry's sales as a whole are flat because of the economic downturn. At $11,995 a pop, these toys aren't cheap. Still, 55% of the company's market remains overseas, and a weaker dollar helps an exporter like Buell...
...enroll 24 million children in primary school. The U.S. only pledged a paltry $61 million over five years, despite the fact that the interconnectedness and global character of all the present crises is becoming painfully apparent. Irony is everywhere. If you think the cash for a $700 billion dollar bailout is coming from taxpayers during an election year, think again: It’s coming from Beijing’s stockpiled reserves...
...things look even worse. Arizona is projecting a billion-dollar budget shortfall, as is California. New Jersey is falling $1.7 billion short, while New York is $1.2 billion behind. Among the cities that have already announced spending and job cuts are Indianapolis, Tempe, Ariz., Columbus, Ohio, and New York City. "The economy has changed rather dramatically," says Christopher Hoene, director of research at the National League of Cities. "We're going to be facing this for the next two or three years...