donut economy
n.— «Economists now refer to the US as having a “donut economy”- it is hollowed at the center, heavily reliant on cheap imports from China, excessive military spending and a corrupted stock market to drive it. The US mortgage scandal has been compared to a Ponzi scheme-funny money, chasing funny money that ultimately vaporizes.» —“World Issues: “M” is for Multilateralism; “D” is for Delusional” by Robert Billyard Canadian Democratic Movement Apr. 10, 2008. (source: Double-Tongued Dictionary)
Further reading
When you had sleepovers as a child, what did you call the makeshift beds you made on the floor? In some places, you call those bedclothes and blankets a pallet. This word comes from an old term for “straw.” And: What’s the story...
Are there words and phrases that you misunderstood for an embarrassingly long time? Maybe you thought that money laundering literally meant washing drug-laced dollar bills, or that AM radio stations only broadcast in the morning? • A moving new...