Word: greenbacker
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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...
What a beast! The pumped-up U.S. dollar has been kicking sand in the face of the yen and the mark. Last week the greenback climbed past 123 Japanese yen, a four-year high, and traded 1.65 against the German mark, a 2 1/2-year peak. Barely two years ago the U.S. currency traded at its postwar low. Europe and Japan love a strong dollar, since it lowers the price of their exports, which can stimulate more sales for their struggling economies. But cheaper Toyotas aren't good for everyone--for instance, General Motors and Chrysler reported weak sales last week...
Finance ministers for the Group of Seven industrialized nations (the U.S., Japan, Germany, France, Britain, Italy, Canada) met in Washington and rejected any specific action to boost the troubled dollar's exchange rate against other currencies. Still, the greenback rallied sharply against the yen, hitting 84.20 at week's end, its highest since April...
...statement, "Business art is a much better thing to be making than art," with the ardent, "Art is a religion, not a business." More stunningly, the Maestro does not sell his paintings, preferring the freedom to do what he wants when he wants to the lure of the greenback...