Word: dollarized
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Dates: during 2000-2009
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Heading abroad from the U.S. this summer? Consider packing a few extra dollars. Since early March, the greenback has fallen 11% against the euro and 17% against Britain's pound as investors who had sought out the dollar as a safe haven during the worst of the crisis now head for riskier assets. Throw in concerns over the U.S.'s spiraling deficit and calls from China for an alternative reserve currency, and "the likelihood is the dollar's going to remain under pressure," says Simon Derrick, head of currency research at Bank of New York Mellon in London...
That's a reversal from the recent uptick. Traditionally a safe bet amid economic mayhem, the dollar climbed about 25% against the euro in the eight months to March this year; the unattractiveness of rival currencies only made it more appealing. But, says Derrick, "that drive seems to be shifting substantially." Sure, a hint of bleak economic data can still goose the greenback - the prospect of poor U.S. payroll figures for June, set for release Thursday, has helped boost the currency in recent days - but optimism in other assets is on the rise. Global equity markets, in particular those...
While homeowners celebrated, city, county and school district officials sat in stunned disbelief. There were predictions of drastic cuts to education and social services. But the ax did not fall as Sacramento, flush with a multibillion-dollar surplus, bailed out local governments and the schools. But the state rescue was accompanied by a loss of local control. As a result of Proposition 13, school districts, county governments and cities were forced to compete with state priorities for a slice of the state budget...
...married future Six Million Dollar Man Lee Majors and became Farrah Fawcett-Majors - one of those celebrity name changes (Rebecca Romijn Stamos, Meredith Baxter Birney) that virtually guarantee the couple will split. She and Majors separated in 1979 and divorced three years later...
There's just one catch: all of the above treatments are as fake as a two-dollar coin. They're just a few examples of the more than 100 products being sold online that the Food and Drug Administration (FDA) recently identified as fraudulently claiming to offer some kind of defense against the new H1N1 virus. Since May 1, the FDA has sent dozens of letters to peddlers of sham H1N1 products - part of the agency's stepped-up anti-fake campaign that has agents sweeping the Internet for hoaxes and shutting down scammers. "This is a great example...