Word: bearings
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Dates: during 2000-2009
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...exercise caution when making claims and, when blunders occur, to seek a “public recognition and rectification of [their] mistakes,” just as Solzhenitsyn demanded at Harvard 30 years ago. We can only hope that the Russian writer’s prudence will bear out if the insinuations made about his Czech counterpart’s past are proven false...
...With a keen sense of timing, the 71-year-old retired general tried to bring maximum firepower and a strong grasp of the tactical landscape to bear on the campaign, leaning into the race after months of silence on his own timetable, with forces (in this case, words) he spent weeks and even months preparing...
...than a trillion people. Infinite wealth could be generated, he thought, by concentrating infinite power on the infinite resources of the earth. Unsurprisingly, his contraption—which was christened “The Satellite” but was little more than a glorified plow—failed to bear the fruits Etzler dreamed of. The Satellite and the mentality that would inspire someone to conceive of such a project is, Stoll says, “an emblem of our own assumptions.” The view of nature as having infinite resources and society as being destined to achieve...
...possible benefit of turmoil: the bear market of 2008 may have ended the spendthrift ways of the 80 million--strong boomer generation, which is now heading rapidly toward retirement, and refocused them on saving. "We must have a reset on consumer spending; frankly, it is out of control," says Daniel J. Houston, president of retirement investor services at Principal Financial Group in Des Moines, Iowa. The average contribution to a 401(k) plan is 7% of salary, yet the average person may need to save 13% to 15% of his salary to maintain his standard of living in retirement...
...Consider what might be called "the tale of two Secretaries." Treasury Secretary Hank Paulson (along with Federal Reserve Chairman Ben Bernanke, who presides over an immeasurably more potent Federal Reserve system than existed in 1929) has acted with vigor to bring the full powers of the Federal Government to bear in the current crisis. In dramatic contrast, when Herbert Hoover asked his Secretary of the Treasury, Andrew Mellon, for advice on how to cope with the financial implosion of 1929, Mellon replied, "Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. It will purge the rottenness...