Word: worldly
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Since March, the dollar has lost about 15% of its value against the world's other major currencies. That's a dull way to put it, though, so you're more likely to read or hear that the greenback is "wobbling," "slumping," "plunging" or even "collapsing." Marc Faber, a Hong Kong-based investment guru with a flair for the dramatic, went so far as to declare in a TV interview a few weeks ago that the U.S. currency was on its way "to a value of exactly zero...
Those are strong words for what, going strictly by the numbers, has been nothing more than a retracing of the dollar rally that followed last fall's financial panic. When investors around the world got scared late last year, they poured money into U.S. Treasury securities that they perceived to be safe. That drove up the dollar. Then, after a few months, investors began taking risks again, putting money back into the U.S. stock market and into all sorts of investments in the rest of the world. So the dollar fell. (See 10 things you didn't know about money...
Then there is the creaky contraption that is the global monetary system. Since the early 1970s, the world's major currencies have generally been allowed to float freely against one other, but lots of emerging-market countries link their currencies to the dollar. They began doing this to secure a bit of stability in turbulent currency markets...
...ridden bikes since I was 18 or 19. It's my main passion. I'd read a book by Ted Simon called Jupiter's Travels about his round-the-world trip in the 1970s, and I was so moved by his experience I set about organizing a trip with my friend Charley Boorman. We made a series called Long Way Round, one of the most extraordinary experiences of my life...
...earth exhibits in the ring. "Best pound-for-pound" is the mantra intoned with every story about Pacquiao. It sounds strange because he has never been bound by the laws of physics. In the past eight years, he has risen through six weight divisions to win just as many world championships. At the stadium, his promoters have arranged for the Filipino to make official his plan to fight Puerto Rico's Miguel Cotto for a seventh title, the welterweight, which has a maximum limit of 147 lb. (67 kg). That is a 40-lb. swing up from...