The ghetto portion of North Philly! Can also be used to describe any ghetto parts of Philadelphia, PA for that matter.
by Lakitu1983 August 3, 2007
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by ToastaptaLidl December 9, 2019
Get the Balance team mug.a basanta is usually a weird guy. very funny and a very caring human being. if you have ound a basanta, you are very lucky.
by thatoneguythatiscalledjack May 13, 2021
Get the Basanta mug.1. Being exceptionally rich, but trying to hide it by living in a terribly middle-classed town.
2. Being a complete jerk to poor people.
2. Being a complete jerk to poor people.
John: Hey, wanna help me at the local soup kitchen tomorrow?
Steve: No thanks, I've got better things to do.
John: Wow, way to Be a Bisland.
Steve: No thanks, I've got better things to do.
John: Wow, way to Be a Bisland.
by NotThatA October 25, 2011
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the sum of the capital account balance and the current account balance; put another way, the net change in financial reserves of a country, whether in the form of income (current account) or foreign investments (capital account)
For example, in all years since 1980, the USA has run a large-to-huge current account deficit, but in most years it has run a capital account surplus that is almost as big as the current account deficit. As a result, the USA has run a medium-to-large balance of payments deficit over this period.
A commonly-overlooked byproduct of BoP is that it determines whether or not a currency can be used as an international reserve currency. Despite repeated efforts by the governments of the EU and Japan to get their currencies established as such, they have failed to dent the US dollar's global primacy as the money for international transactions. This is because EU member states and Japan (as well as other major economies) run very large surpluses in their BoP. Japan, in particular, imports extremely little, and retains huge reserves rather than invest all of its net export earnings overseas. As a consequence, overseas holdings of euros or yen are much to small to serve as an alternative to the US dollar.
For example, in all years since 1980, the USA has run a large-to-huge current account deficit, but in most years it has run a capital account surplus that is almost as big as the current account deficit. As a result, the USA has run a medium-to-large balance of payments deficit over this period.
A commonly-overlooked byproduct of BoP is that it determines whether or not a currency can be used as an international reserve currency. Despite repeated efforts by the governments of the EU and Japan to get their currencies established as such, they have failed to dent the US dollar's global primacy as the money for international transactions. This is because EU member states and Japan (as well as other major economies) run very large surpluses in their BoP. Japan, in particular, imports extremely little, and retains huge reserves rather than invest all of its net export earnings overseas. As a consequence, overseas holdings of euros or yen are much to small to serve as an alternative to the US dollar.
Since the oil embargo of the 1970's, the US has run a balance of payments deficit because its trade deficit was enormous; prior to the embargo, the US BoP deficit was large because the US exported such an enormous amount of finance capital. As a consequence, the balance of payments deficit has persisted since the end of the Korean War (1953).
by Abu Yahya February 14, 2009
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