Word: riche
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Dates: during 1980-1989
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...finance ministers. Latin leaders point out that largely because of interest payments, their financial resources are being drained away to countries like the U.S. at the rate of about $30 billion a year. This has become a kind of reverse foreign aid with the poor giving to the rich. The situation has brought criticism even from some American institutional investors, who think the banks are pumping a dry well. Says Barton Biggs, chief portfolio strategist at Morgan Stanley: "There is simply no way Citibank can continue to increase its earnings by 15% a year on the backs of millions...
...same currency-rate imbalances that made it advantageous to stock up on foreign consumer goods spurred wealthy Latins to buy property abroad and deposit their money in U.S. and foreign banks. Even as loans poured into those countries, the rich were investing their money overseas. Says Richard Mattione, a research associate at the Brookings Institution: "Individuals and firms did the very sensible thing: they moved money out of the country. It was a mistake of government policy to have such an extremely overvalued exchange rate." The exact amount of this flight capital is unknown, but experts believe that since...
...Betancur's welcome to the delegates at the Cartagena conference last week may have been a bit apocalyptic, but the substance struck a responsive chord in his audience. In declaring that Latin America's debt crisis is also the world's crisis, he pointed at the rich countries as the main villains of the drama. Added Betancur: "One of these villains, of course, is the International Monetary Fund." It is doubtful that anyone in the room disagreed with...
More valuable than any of this is her rich, sure, rock-solid sense of inadequacy. No writer should be without it. Bombeck's brings her back to the typewriter, twitchy with remorse for the unspeakable sin of not measuring up, after only a few days of vacation. She writhes, and writes, and makes a rare sort of contact. "I swear to you, I don't write fiction," she says. Bill Bombeck and their endlessly libeled children swear she does. No matter; when the jokes splat on the page like strained spinach flung by somebody's centrifugal suburban...
...bundle of insecurity. I always think that everything good is going to evaporate and disappear overnight. I am the quietest person at the party. I position myself at the chip dip and don't leave all night. I still have a very ordinary, simple person trapped in this rich, gorgeous, successful body." The joke is practiced and sure, but she does not want her listener to miss her point, so she spells it out. "The whole thrust of my existence is that I'm ordinary." It seems important to her to believe this. Another joking statement...