Word: boom
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Dates: during 2000-2009
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...your faith in the Fed or Uncle Sam. During the 1982-2000 stock-market boom and the long economic expansion, people foolishly began to think that government officials like former Fed Chairman Alan Greenspan (formerly the "Maestro" and the man who helped save the world, now Alan Who?) - were looking after their interests. They weren't. Greenspan's job was to protect the world financial system and the economy, not you. Ben Bernanke's job is the same as Greenspan...
Funny he should mention that word. There is currently $3.5 trillion in outstanding commercial real estate debt, with much of it related to properties purchased at exorbitant prices during the real estate boom that ended in 2007. Many private equity players and hedge funds used heavy leverage - borrowing up to 80% of the purchase price - to acquire the properties and are now struggling to generate the cash flow needed to service the debt and meet debt calls. Bach estimates that about $500 billion in commercial real estate debt will come due each year for the next few years...
...That sentiment extends well beyond the young and disaffected. Meraj Gulzar, 36, is the owner of a small information-technology-services firm, one of about 40 companies employing 2,000 people in Srinagar's tiny IT industry. Gulzar wants to bring Srinagar a piece of the economic boom that has transformed so many other Indian cities. "We would like to be as successful as Bangalore, Pune or Delhi," he says. Kashmir has a big advantage - a large population of well-educated but unemployed college graduates whose salaries are far below those in India's established IT hubs. But the state...
...INDIA SHINING, aimed at capitalizing on the country's astounding record of rapid growth. But India's struggling farmers didn't see much shining in their own lives, and voted the BJP out. The unacknowledged reality was that the farms hadn't yet joined in India's economic boom. While GDP grew on average 5.7% a year between the launch of India's market reforms in 1991 and 2004, agriculture slumped along at just 2.9%. Indian farming had also become miserably inefficient. Each hectare of cultivated land in India produces half that grown in Thailand. "The government thought that after...
...Giving a cow won't help a farmer long-term," says Paurnima Sawai, 42, a farmer in Takarakhede Shambhu village. "But money to build a dam is a long-term investment. For years, you get benefits from it." With only 40% of its farmland irrigated, India's entire economic boom is held hostage by the unpredictable monsoon. With much of India's farming areas suffering from drought this year, the government will have a tough time meeting its economic-growth targets. In an August report, Goldman Sachs predicted that this year's weak rains could cause agriculture to contract...