Word: yen
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Dates: during 2000-2009
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...been fueled by business investment more than any recovery since the 1950s. But investment cannot grow faster than GDP indefinitely. The second pillar of the recovery has been a rising trade surplus, fueled by strong growth in the U.S. and China and the lowest price-adjusted value of the yen since 1986. That, too, has limits...
...interest rates would have a significant impact on global money flows. For one thing, it could spell the end of the Japan "carry trade," the practice of large investors borrowing yen cheaply to invest in anything with higher yields?from U.S. treasuries to stocks to emu farms. The carry trade has been blamed for speculative excesses in global stock and commodity markets, not to mention exotic investments like Icelandic and New Zealand currencies. In June, financier George Soros blamed the recent dip in global markets on the BOJ's money-supply tightening since March, noting: "When the Japanese central bank...
...Hooverite measures had once done in the U.S. In the late 1990s, with social and political upheaval at hand, Japan was finally jolted into action. To quell a threatening run on the banks, the government declared that it would guarantee every deposit in the country, and injected trillions of yen into the financial system. Still the economy failed to respond. With all of Asia then in a state of unprecedented financial collapse, the Bank of Japan adopted a series of measures that took it into a realm where no central bank had ever previously dared venture. Lending rates were slashed...
...Hooverite measures had once done in the U.S. In the late 1990s, with social and political upheaval at hand, Japan was finally jolted into action. To quell a threatening run on the banks, the government declared that it would guarantee every deposit in the country, and injected trillions of yen into the financial system. Still the economy failed to respond. With all of Asia then in a state of unprecedented financial collapse, the Bank of Japan adopted a series of measures that took it into a realm where no central bank had ever previously dared venture. Lending rates were slashed...
...high drama. A decadent spirit of retro eclecticism is in the air?blame it on Marie Antoinette, or perhaps on Sofia Coppola's fall biopic starring Kirsten Dunst as the famous French voluptuary. Philippe Starck may have ignited it years ago with his transparent Louis Ghost chair, but the yen for playful baroque design is finding other outlets, especially retail venues. Haute femme is an antidote to sleek Modernism, somber Minimalism and the kind of unbridled multiculturalism that juxtaposes a Chinese wedding cabinet, a Moroccan rug and a Balinese vessel. Says Wid Chapman, a professor of interior design at Parsons...