Word: dollarized
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Dates: during 2000-2009
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...Realtor dad. He watched the market go mad and had his revelation: now is the moment to get back in - and stake your claim. At 41, he did not expect to be driving around Cape Coral in an old church bus that he bought off Craigslist, painted dollar green and emblazoned with the motto "ForeclosureToursRUs.com." But most people had no idea how to buy a house from a bank, and many were too scared to try, so he decided to lead tours of the new economic frontier. He is a revivalist for this apocalyptic age, living an American story...
...punished, the new prospectors say. But maybe this is just how the life cycle has to work to restore balance to the world. Painted on the side of the green bus is a house being sprinkled with a watering can ("Watch your investment grow!") and a tree with dollar bills hanging on it. Anything can grow here in all this hope and sunshine, if you bury your fear deep enough...
...School classmates. Wagoner, who graduated from the Business School in 1977, stepped down on Monday at the request of the Obama administration, which has sought to force more rapid changes within the three beleaguered American automobile manufacturers that have received assistance from the administration’s multi-billion dollar bailout fund. GM lost $30.9 billion last year, and its share price has fallen to as low as $1.27 from a high of $35 three years ago. The company has been criticized for failing to anticipate plummeting demand for gas-guzzling SUVs and neglecting to explore energy-efficient technology, causing...
...posturing in and around the meetings with Obama for domestic consumption in various nations. Will Russian leader Dmitri Medvedev use the meeting to highlight the U.S. role in the financial collapse? Will Chinese President Hu Jintao bring up the proposal for a new international currency to supplant the U.S. dollar? Will Mirek Topolanek, the recently displaced Prime Minister of the Czech Republic, renew his rhetoric about the "road to hell" that Obama's economic policies present when they meet in Prague...
...Little wonder. The ruble has lost 30% of its value against the dollar in the past six months, while economic activity decreased 7.3% in February compared with the same month last year, Deputy Economic Development Minister Andrei Klepach said on March 24. The government has said the economy is likely to shrink 2.2% this year. (See pictures of the Cold War's influence...