Word: moneyitis
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...smart money these days isn't obsessing about the stock market - it's making huge bets against the euro and the Japanese...
...idea is to borrow money cheaply in one country and invest it in another with higher interest rates and where the currency may be appreciating. Last year a plunging dollar and the Fed's decision to slash rates made the U.S. currency ideal for funding carry trades. For example, selling the U.S. dollar to buy Australian dollars, Norwegian kroner and Brazilian reals yielded returns in excess...
...this kind of big-money speculation by hedge funds and private-equity funds generally beneficial, or can it exacerbate an already bad situation in the real economy, just as derivatives did in the case of the subprime-mortgage meltdown...
...which they have no democratic control. Such a policy simply isn't reasonable and lacks public support," says Pieter Cleppe, head of the Brussels office of Open Europe, a think tank that opposes greater centralization of power in the E.U. Indeed, the IMF has already given millions in bailout money to E.U. countries like Hungary and Latvia, neither of which uses the euro, but eurozone countries fear that such a move would hurt the reputation of their union on the global stage. ( Read: "Taxing Times in Greece...
...show that Greek Prime Minister George Papandreou still has broad support for his economic plans, with about 65% of Greeks agreeing that painful measures are necessary to slash the deficit, many of the street protesters said they did not believe the government claims that it had run out of money. Others argued that it was the rich who should pay. "It's a crisis caused by the capitalist system," said Sissy Vovou, a 60-year-old pensioner. "Those who should pay are the capitalists, not the working classes...