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...failure to increase the capacity of electricity production now plunges Pakistan's main cities into darkness for up to ten hours a day, with longer periods in rural areas. Industrial output has shrunk with employers now laying off employees they can no longer afford to keep. And Pakistanis have begun to take their anger to the streets. In parts of Lahore on Monday, scores of protesters laid siege to the local office of the electricity utility, ransacking the building and burning their electricity bills. The mounting economic crisis is likely to fuel social unrest - "The general mood...
...When it comes to human endeavor, of course, there is no such thing as permanence - something the exhibition poignantly illustrates. Even under the care of the world's best curators, the paint on some of the icons has begun to chip. Cormack says an embossed icon of St. Michael and several ivories from St. Mark's Basilica in Venice are so fragile they will probably never be allowed to travel again. Even Yeats' beloved mechanical nightingales are long gone; we know of them only through accounts from their time...
...settling in across the nation. Every tumultuous period of financial boom and bust comes to be defined by a word or catchphrase. Tulipmania. The Great Depression. The dotcom bubble. The word that could define the financial times we are now living through - and the economic pain that has begun - is leverage...
...actually begun voting along with Graham by then - his fund gained 50% in 1933, and he did spectacularly well for himself in the next two decades. "In the short run, the market is a voting machine," he later took to saying, "but in the long run, it is a weighing machine." Over time, Graham's strategy of buying stocks that seemed inexpensive relative to a company's underlying assets and earnings really was (and presumably still is) a profitable strategy. But for months and even years on end, cheap stocks are perfectly capable of getting cheaper...
...populist skills, Obama hasn't been as plain as he could be. If an Apollo project to create a new alternative-energy economy is his highest priority, as he told me, why hasn't he given a major speech about it during the fall campaign? Why hasn't he begun to mobilize the nation for this next big mission? In part, I suppose, because campaigns are about firefighting - and this campaign in particular has been about "the fierce urgency of now," to use one of Obama's favorite phrases by Martin Luther King Jr., because of the fears raised...