Word: dollarize
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Dates: during 2000-2009
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Spend some time in the hotels, restaurants and even newsstands of Western Europe these days, and as an American you understand pretty quickly that you're poorer than you once were. To be precise, you're 40% poorer--to go by the dollar-euro exchange rate--than you were six years...
...puzzle is that there's no real evidence that the economic prospects of Western Europe have suddenly improved 40% compared with the U.S. This makes it tempting to assign the dollar's drop to the customary moodiness of currency markets, in which traders make guesses about the future and inevitably get things wrong for years...
There may be something more significant afoot this time, though. It has little to do with the economies of Europe (or of Canada, Australia or New Zealand, whose dollars have made big gains against the U.S. version). Instead, the real action involves the countries whose currencies haven't gained on the dollar despite dramatically improved economic prospects relative to those...
...young people who want to put their whole life into something. I'm way past that point." He admits he occasionally stops on Seinfeld while flipping through the channels ("I watch it now, and I go, 'Oh, now I see why they liked the show'"). No, he says, dollar signs do not flash before his eyes when he sees it in syndication. "Bad fashion choices flash before my eyes." Seinfeld isn't impressed by most TV now and believes that the medium's fragmentation over the networks and the sprawling cable universe has made it too difficult to get together...
...Marine Corps likes to boast that it spends only a nickel out of every Pentagon dollar and makes do with cheaper weapons than the other services. The story of the V-22 belies that image: It's a tale of how a military service with little experience overseeing aircraft programs has wound up with a plane that may be as notable for its shortcomings as for its technological advances...