Word: bondses
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Much of this trouble, as the Unabomber argues, stems from technology. Suburbs are largely products of the automobile. (In the forthcoming book The Lost City, Alan Ehrenhalt notes the irony of Henry Ford, in his 60s, building a replica of his hometown--gravel roads, gas lamps--to recapture the "saner...
Comments such as "Your wife is left-handed...I know" and jokes like "What did one feminist say to another?" were traded along with bonds, smack dab in the middle of this large communal office. In addition, phrases like "get off you knees" were directed at a salesperson (though gender...
Or so it seemed until an extraordinary vote last Tuesday in Southern California's Orange County. Since its former treasurer bankrupted the county last year by gambling on high-risk investments, Orange has searched for ways to back up its $2 billion debt. The traditional method for large municipalities in...
But Wall Street was not convinced. In addition to downgrading Orange County bonds to junk status last week, Moody's Investors Service called the county's behavior "outrageous and unprecedented." Says Zane Mann, publisher of the California Municipal Bond Advisor: "People are saying, 'Screw them. I'll never buy another...
Does that mean a trade war this summer? Probably not. The reasons are reminiscent, in a minor key, of why war gamers always thought the U.S. and the Soviet Union would not get into a deliberate nuclear exchange: the consequences would be too awful to contemplate. The Japanese could shut...