Word: baumohl
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...intense competition to keep an audience in the age of cable and cyberspace has put severe pressure on traditional broadcasters. ?CBS in particular has been hurting for some time,? says TIME senior economic reporter Bernard Baumohl. ?The King World purchase should infuse the company with a major new source of revenue.? CBS will now be in a much stronger position to sell television programming to others and, over time, to obtain it for its own stations...
...question is health: They're not convinced that hormone-treated U.S. beef is safe in the long term. A World Trade Organization panel, though, has ruled that there is no scientific evidence to support that concern. Whatever the merits of the health issue, says TIME senior economic reporter Bernard Baumohl, the fundamental underlying issue is economic: "Protectionism is rearing its ugly head again...
...these good times in the U.S., it's often difficult to appreciate the economic problems plaguing our trading partners. "About a third of the world, especially in Asia and Latin America, is in recession or teetering on its brink," says Baumohl. The effect is to lessen worldwide demand for a whole host of goods, which accelerates the need to find new markets and increase exports to new partners. This tension is exacerbating frictions between trading partners where barriers stand in the way. "Many in the U.S. suspect that on the beef issue, for example, the Europeans are merely trying...
...Tuesday, reporting to Congress in his usual dry abstruseness that the economy remains "solid" but that "after eight years of expansion, the economy appears stretched in a number of dimensions, implying considerable upside and downside risks to the economic outlook." Which means, says TIME senior economic reporter Bernard Baumohl, that Greenspan is "raising a yellow flag to indicate that the best of the nation's inflation news may be over. He wants everyone to know that the Fed stands ready and alert to raise interest rates, if that should become necessary...
Greenspan expects "no breakout of inflation," analyzes Baumohl, but he does believe it "could pick up a bit in 1999." One of the main reasons the Fed chairman cited for his prediction was what he called "worker depletion." Full employment has created a scarcity of labor in a number of sectors, explains Baumohl, and that shortage could cause a small rise in wage inflation this year. Having engineered one of the most remarkable economies of modern times, Greenspan now finds himself in the ironic position of working to ensure that success doesn't defeat itself...