Word: browne
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...then into its 60th and 61st quarter and beyond ... Inflation has fallen from 3% to 2.8%, and will fall further this year to 2% ... Looking ahead to 2008 and 2009, inflation will also be on target. And we will never return to the old boom and bust." Thus Gordon Brown, as Britain's Chancellor of the Exchequer, in his Budget statement only last year. No Chancellor since the war has quite so disastrously misread the economic situation, or so fundamentally misunderstood the inescapable nature of market economies - namely, that the greater the binge, the greater the hangover. Today, Britain...
...Brown was by no means alone in his folly. Banks and financial institutions throughout the Western world acted as if the economic cycle was a thing of the past. Instead of understanding that the longer the debt-fueled boom lasted and the greater the debt burden became, the greater would be the carnage when the inevitable day of reckoning arrived, they acted as if the longer the good times lasted the more they could be regarded as a permanent fixture...
...calendar turns to October, many begin looking ahead to Halloween and the promise of endless treats. But, for Harvard men’s water polo, revenge against the Brown Bears might be even sweeter.The Crimson (2-4) returns to action tonight against the Bears at 7 p.m. in Blodgett Pool after spending the past week recovering from a difficult sweep in the ECAC Championships. Brown (5-5) was among the teams to hand Harvard a tournament loss, but the 14-6 defeat served as tremendous motivation for the young Crimson squad.“We still have a bitter taste...
...Washington and Wall Street stole the headlines from the Conservatives' annual conference, held this year in Birmingham, Britain's unlovely second city. The Labour party, divided and unpopular, had held their own yearly get-together the week before. It managed a show of unity behind beleaguered Prime Minister Gordon Brown, securing a boost in the polls that halved the Tories' lead from 20 points to 10. Cameron and his colleagues planned to use their conference to win back the initiative and the limelight. That chance was torpedoed when the House of Representatives rejected the bailout package on Sept...
...Masters, who before his election last year had been one of the city's most visible community leaders, said parents of children who dropped their pants were among the most avid supporters of the ban. City spokeswoman Rose Anne Brown admits she wasn't among them. Legislating morality doesn't make sense, she said, though she acknowledges the law could work and wishes she "had a dollar for every time we made Torrey [her youngest son, now 25] pull his pants up when he was growing...