Word: amounting
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...easy to chalk that up to simple human carelessness. Certain economists, though, have another way of looking at that and similar findings. They see a systematic psychological breakdown - as a species we're just really bad at understanding costs that come later on. Instead, we assign a disproportionate amount of importance to what's immediate and tangible. We lock eyes with that initial low rate and can't look away. (And, yes, credit-card companies get that...
...Administration's initial forecast, provided by the Office of Management and Budget, never had a chance. While the costs in the document might have been controlled well enough to meet expense estimates, the rate at which the economy is coming unhinged always meant that the amount of money which was supposed to come in from taxes was always at risk. OMB now says tax receipts will drop a breathtaking 15% compared with last year. (See pictures of the Top 10 scared traders...
...Cutting expenses to meet falling revenue is a normal and prudent business practice, but it is not one that will be adopted in this case. The simple calculus behind the budget assumes that if the appropriate amount of money is not spent, the chances of an economic recovery will be undermined. The line items in the plan are meant not only to keep the government running but also to allow the proper amount of capital to be invested troubled areas like the banking industry...
...more than the losses on the FTSE 100, an index of Britain's leading shares. In the opening quarter of 2009, AIM listed just five new firms, raising a meager $4.5 million in the process. In the same period last year, 32 new companies pocketed 100 times that amount. "To all intents and purposes," Richard Thornhill, capital markets director at Deloitte, said in the firm's quarterly analysis of AIM last month, "the fundraising market for new companies on AIM does not exist...
...know a fair amount about South Africa's new President as a man. Jacob Zuma has six wives and 19 children, and he has been tried for rape (acquitted) and corruption (case dropped). His party, the African National Congress, sells him as an affable consensus-builder and a champion of the dispossessed - and on both counts, it's true, he scores. But we know very little about him as a policy-maker. Zuma has consistently refused to answer questions of policy, describing himself as a cipher for his party. After he was elected President last month, that argument became...