Word: averted
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...woman named Kathy Frankovic appearing on CBS Tuesday evening, you might want to avert your eyes. As director of surveys at CBS News, Frankovic is the executive most responsible for declaring the network's projected winner of the presidential election. And if she gets in front of the camera, it probably means that something has gone very, very wrong. Like a Super Bowl referee, she's perfectly anonymous if she does her job right, a name in the news only if she blows the call. "We have a quite lovely studio, right near the anchor's desk," Frankovic says...
...throwing money at the economy's problems is not without risk, and it will be interesting to see whether the Fed is able to react quickly enough in the other direction when the economy finally takes a turn for the better, and avert the inflationary spiral that Bernanke's critics have been warning about all along...
...century successor, Gordon Brown. Just weeks ago the British Prime Minister looked fist-clenchingly impotent as insurrection bubbled in Labour's ranks and his Conservative opponents thumbed their noses from the safe distance of a 20-point poll advantage. Then came convulsions in the global economy. The scramble to avert meltdown drove Labour rebels into retreat, halved the Tory lead and granted Brown more than just a reprieve from domestic woes. As Congress bickered over the U.S. bailout and European leaders vacillated between a unified response and defending national interests, the old, beaten Brown shuffled off stage. Into the limelight...
...emotion, one embedded by evolution in our lizard brains. That's why there's no precise economic definition of a market panic; it's more a psychological than a fiscal phenomenon, simultaneously anticipatory (you think something terrible will happen) and retrospective (you think you have waited too long to avert disaster). Swimmers being dragged to sea in a rip current often try to swim directly to shore--against the current--and end up exhausting themselves. Panic can kill...
...governments to borrow to fund day-to-day operations, continue to tighten in Asia as banks become more nervous about lending. In Hong Kong, the one-month interbank lending rate has doubled in the past month to 4%. Central banks are trying to pump liquidity into financial markets to avert a credit crunch. India on Monday cut the amount of cash that banks must deposit with the central bank in an attempt to loosen credit. "Credit markets are quite global," says Kirby Daley, senior strategist at financial services firm Newedge Group in Hong Kong. "It is inescapable, if the credit...