Word: centralized
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That's why building is starting to pick up in certain pockets of the country. In central Texas, to take an example, D.R. Horton, one of the nation's largest homebuilders, is planning to build upward of 700 houses without buyers lined up. Such speculative houses largely went away during the real estate bust, but for builders trying to stay ahead of growing demand, they are starting to reappear. (See 25 people to blame for the financial crisis...
...China's overall economic vigor may continue to impress, but there are questions surrounding the quality of its performance. The People's Bank of China, the central bank, is giving great gobs of money to state-owned banks that, with Beijing's forceful encouragement, are lending to state-owned companies participating in infrastructure construction. Skeptics are frightened by the amount of cash being shoveled out the doors. The central bank recently announced that new loans in June totaled $224 billion. That was more than double the previous month's amount and brought new bank lending in the first six months...
...that little collection of essays on the great equations reminds us that a society's characteristics today will not necessarily shape what it will look like tomorrow. History rarely runs in straight and predictable lines. At the end of the 19th century, Germany - or perhaps more accurately, Germanic central Europe - was a technological and scientific powerhouse, its universities nurturing geniuses like Einstein, Heisenberg and Schrödinger, whose discoveries changed the way we thought of, well, everything. Then came the carnage of World War I, the rise of fascism and communism, the mass murder of European Jews and the flight...
...scene at this sweaty central American checkpoint was grand political theater. On July 24, ousted Honduran President Manuel Zelaya, threatened with arrest if he ever again set foot in his homeland, ducked across the border before crowds of media and supporters--and then rapidly strode back into neighboring Nicaragua to set up camp. The action put Honduras' political crisis back in the headlines, and it set tensions boiling and troops firing tear gas on Zelaya's supporters nearby, prompting U.S. Secretary of State Hillary Clinton to dub the move "reckless...
Living here in the same conditions as the average citizen has been a struggle to say the least—with only a few hours of functioning electricity and questionable water flowing each day. Though it is true that, like many other central African nations, Equatorial Guinea is struggling with infrastructure development, this country’s government has a wealth of oil-based profits flowing into its coffers that other such nations...