Word: dollarize
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Dates: during 2000-2009
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Throughout my time here, it has every so often occurred to me how absolutely, utterly spoiled we are. Our beautiful, roomy suites have regular bathroom-cleaning service. Our exorbitant (yes, exorbitant) investments in undergraduate social life include tens of thousands of dollars put into Yardfest and the multi-million dollar project that was the pub. Grants from the school are available for us to do almost anything, such as party, travel almost anywhere in the world, work at any place that cannot pay you, or feed other Harvard students. Our undergraduate library became 24-hour and featured a new caf?...
...named this morning as the new president of the World Bank, an institution that wrestles with poverty and corruption overseas in its mission to help the underdeveloped world. As president, Zoellick will also have to contend with unending international politics about how to spend its multibillion-dollar budget...
...Blackstone transaction makes barely a dent in China's foreign-currency reserves, but it signals that the government wants to invest its dollar stash more aggressively. The deal was nicely timed--just before top Chinese officials arrived in Washington for talks aimed at reducing the bilateral trade deficit. "It's a safe bet. It's politically savvy and economically very smart," says Bank of America market strategist Joseph Quinlan. The Saudi plastics buy, in turn, is part of an effort to move up the economic food chain from pumping oil to making things of value...
Until last year, partly as a result of the dollar-investing disasters described earlier and partly because most foreign investors preferred safe but low-yielding bonds, Americans earned more on their investments abroad than foreigners made here. This meant you could argue that our nation's decades-long spending binge had actually left it richer in relation to the rest of the world, not poorer. In 2006, though, the U.S.'s long-running investment-income surplus gave way to a deficit of $7.3 billion...
...quiz show because it's like life. It's random: you don't take a qualifying test but are picked from the crowd. It's social: studio-audience help is not forbidden but encouraged, if often wrong. And it's a little savage: yes, I will bid one dollar over you. Price will keep testing consumers after Barker takes his well-earned rest. And if he ever wants to get a glimpse of real America in his leisurely late mornings, he knows where to come on down...