Word: dollarized
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...some point this week, the Clint Eastwood drama will pass the $100 million mark, easily surpassing the box-office receipts brought in by not only some of the Oscar front-runners (Slumdog Millionaire now totals $56 million, Milk $21 million) but also Eastwood's last Oscar winner, Million Dollar Baby...
...Madoff's colossal fraud moves from the headlines into memory, his name will remain as a caution to all future investors. No one in this generation at least will ever believe that every dollar invested in the market will turn into...
...given the apparently recession-proof recipe McDonald's has cooked up. Indeed, while most companies limped out of 2008 on slumping results that look likely to plummet in 2009, McDonald's on Monday announced earnings of $985.3 million in the fourth quarter of last year. While that near billion-dollar activity represented a 23% drop over the same period the previous year - due mostly to an extraordinary tax bonus accounted to 2007 books - McDonald's also revealed an 11% rise in fourth-quarter consolidated operating income to $1.5 billion on global sales gains...
...having much fun. But we are. It's a Tom-and-Huck scenario: they paint the fence, while we watch and pretend to get tired. Grisham doesn't try to glamorize it - in fact he works very hard to de-glamorize the way corporate litigation is practiced at high-dollar New York firms - but somehow it has the opposite effect. You're peering into a secret world of power and money. What more could you or any red-blooded American ask for? (Read TIME's 10 Questions for John Grisham...
This is a fundamental misreading of the U.S.-China economic relationship. The Chinese RMB would go up in value relative to the dollar (exactly what some critics seek) if the Chinese did repatriate more of the money they earn via exports instead of reinvesting those dollars back into Treasuries. But the Chinese, despite some scary stories that have circulated to the contrary, show absolutely no sign of doing that. In November, the last month for which data is available, Beijing actually added $29 billion to its overall position in U.S. debt. (Beijing sold $9.2 billion of long-term U.S. Treasuries...