Word: boom
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...obtain other visas or make alternate post-graduate plans. After investing in these foreign students by giving them places in American universities, it is absurd to turn them away when they ask to stay and contribute to America.Our policy has not always been so restrictive. During the dot-com boom we experienced high demand and raised the cap to 195,000, a level that was never reached. Congress, however, let the cap fall back to 65,000 in 2003. Since then it has been reached progressively earlier each year as demand has increased—first in August, then...
...overseas-to find work, they had very little contact with their sons. Those sons, with educations paid for by their fathers' remittances, were able to advance up the socioeconomic ladder. But the jobs they took-many of them white-collar jobs at the heart of the Asian economic boom-robbed them of a family life, too. Today, their sons-the third generation and the present crop of fathers-are the product of two previous generations of absent dads. "The pattern of fatherlessness can be passed down," says Wong Suen Kwong, who says he started the Centre for Fathering because...
...runway, it's pure, even, rapid acceleration to 310 mph. The only clue to the sheer speed is the tunnel lights outside: Standing 40 feet apart, they seem to stretch and blend until they appear as a single white stripe; very Buck Rogers. Outside the train makes a searing boom sound as it rips the surrounding air, but inside the car is as quiet as an airplane cabin, if a bit bumpy. Even before you've grown accustomed to the speed, the ride is over, the maglev gliding to a gentle halt, ending on its wheels...
...ability to pilot us past market jitters and avert major economic dislocations is something not to be praised but to be condemned. Among the doom crowd, Greenspan's decision to slash interest rates as the stock market plummeted in 2001, which fueled the last leg of the real estate boom, is seen as his gravest error. Despite his raising rates since then, Greenspan's successor Ben Bernanke is if anything even more reviled. His sin was committed in 2002 when, as a member of the Federal Reserve Board but not yet its chairman, he declared that among the tools...
...Reserve Board member now at the Urban Institute, says Congress should sic bank examiners on subprime lenders and ban certain kinds of loans--especially those involving balloon payments. But Gramlich, author of the forthcoming The Rise and Fall of the Subprime Mortgage Market, also sees benefits in the subprime boom. "There seem to be more gainers than losers, and unless the losers lose a lot more per household, the net gains would seem to outpace the losses," he wrote in February. So, yes, things may have gotten out of hand. But neither should we clamor to return to a status...