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...academics in the room tried to provide some historical perspective. Robert Engle, a finance professor at New York University, put up a chart showing how volatility has played out over the past 80 years. Two bulges were large enough to rival the amount of volatility we're seeing today, representing the stock market crashes of 1929 and 1987. The difference between the two: while the market quickly calmed down after 1987, it took years to regain a sense of normalcy after 1929. "We don't know if this is a '29 or '87 type of spike," Engle said...
...short term, there's simple math. The average driver goes about 12,000 miles a year at 20 miles per gallon, says Ken Medlock, an Energy Fellow at the Baker Institute at Rice University in Houston, Texas. If gasoline drops $1.50 the $900 that Joe Average Driver saves would amount to a big stimulus package. According to Ed Leamer, director of the UCLA's Anderson Forecast, the current price slide could drop another $200-to-$250 billion into consumers' pockets, given that as of the second quarter personal spending for gas fuel oil and other energy was about $442 billion...
...curriculum generated by the seminars will require “a significant amount of time and thought,” said Brandt...
...example, Hoffman quoted Hamlet, saying, “Conscience does make cowards of us all,” while discussing tax policy. Each debater was given two minutes to answer questions that ranged from whether proceedings in the Supreme Court should be broadcast on C-SPAN to the amount and type of experience necessary for a candidate to be qualified for the presidency. Debaters stayed within time limits without any red lights or warnings from the moderator. The debate format included time for responses from the other debaters, as well as closing statements from each participant. Debaters took strong stances...
This is a meaningful shift. But it doesn’t quite amount to the workers of the world uniting. In the end, it seems likely that the only Revolution in Cambridge will be the book store, which is only open three days a week anyways...