Word: classically
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...only stocks are at risk. Because of the liquidity that has been sloshing around the world, prices for all kinds of assets have been soaring in recent years. Virtually anything intrinsically valuable or desirable-real estate, metals, art, vintage wine, collectible watches, classic cars-has shot up in price. This universal asset inflation has been feeding on itself. For example, individuals and institutions holding real estate have been able to use their appreciating properties as collateral in order to take on larger debts, thereby increasing their consumption and driving up asset prices even more. As a result, asset prices have...
...surface these appear like classic democratic efforts to respect the rights and deeply held principles of minorities. But people feel just as deeply about gun control and abortion and global warming and, of course, war and peace. We can customize our tax returns to reflect the policies we're willing to support and our oaths of office to reflect the laws we're willing to enforce. But at that point democracy as a miraculous system of respectful accommodation shatters...
...operas have play doctors, as the classic musicals often did? Old pros like George Abbott or Abe Burrows would join a show out of town, bring a fresh mind to the soft spots, punch up the book. By the time the thing opened on Broadway, it sang. The First Emperor could have used some outside help. For what disappoints me about the opera is not its music but its failure to transfer the thrilling drama of the movie to the stage...
...staged elections for a city council and began to disburse funds to clean schools, reopen factories, fix potholes and establish recreation programs. He was, in effect, the mayor of Mosul. The tactics Petraeus used were well known to a tiny cadre of military intellectuals in the Pentagon: they were classic counterinsurgency methods, and they were scorned by most of the brass (and by Secretary of Defense Donald Rumsfeld), who thought that nation building was a job for social workers, not soldiers. Even though counterinsurgency seemed to be working in Mosul, the Pentagon wasn't impressed...
...staged elections for a city council and began to disburse funds to clean schools, reopen factories, fix potholes and establish recreation programs. He was, in effect, the mayor of Mosul. The tactics Petraeus used were well known to a tiny cadre of military intellectuals in the Pentagon: they were classic counterinsurgency methods, and they were scorned by most of the brass (and by Secretary of Defense Donald Rumsfeld), who thought that nation building was a job for social workers, not soldiers. Even though counterinsurgency seemed to be working in Mosul, the Pentagon wasn't impressed...