Word: greenback
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Dates: during 1990-1999
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Much of the trouble stems from a single concern: the weakening U.S. dollar. The greenback had been the strong, silent type for the past six years, making European vacations and Japanese electronics cheaper, while at the same time attracting foreign capital to the U.S. stock-and-bond markets by the trillions. Although the dollar's decline amounts to only 3% against major currencies like the euro, it is off nearly 15% against the Japanese yen since March...
...financial transactions and services such as advertising and insurance were not offseting part of the gargantuan deficit in exchange of goods. The trade deficit, or excess of merchandise imports over exports, will be roughly $350 billion. So the U.S. is spilling too many dollars into currency markets for the greenback to maintain its present value against most other moneys, euro or no euro...
...rates again on Thursday without waiting for the next Fed meeting, a dramatic move that caught Wall Street off guard. It was almost unprecedented in Greenspan's term as helmsman of the U.S. economy. If the Fed has a big red panic button, this was it: Clearly Father Greenback had seen something that couldn't wait for November 15. But what...
Maybe you were distracted by the landing of Pathfinder on Mars or were just not paying particular attention when Thailand's currency, the baht, began to fall to earth like a wounded satellite. On July 2 the baht plunged more than 12% in value against the greenback. Then it crashed into the Philippines, Malaysia and Indonesia, where government officials were forced to devalue their currencies. That triggered a region-wide crisis, in which stock markets gave up as much as 35% of their value, inflated real estate prices fell through the floor, banks collapsed, and hundreds of thousands of Southeast...
...Greenback...