Word: cliffes
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...Buiter counsels Europe against matching any eventual bailout of the Big Three with aid to its own automakers. "If the Americans want to extend the life of the dinosaurs at public expense, they are free to do that," he says. "But if I see someone else jump off the cliff, that doesn't mean I follow...
Anecdotal and empirical evidence seem to bear out Synovate's figures. Despite deep discounting and promotions that Denison describes as "hypercreative," sales have quite simply fallen off a cliff. Retailers are understandably coy about admitting to their own struggles, fearing that such revelations could endanger their credit lines and spook investors. A jeweler who prefers to remain anonymous says that top-end shops already weathered a drop-off in sales last Christmas and have been suffering throughout the year. "Bankers used to come in droves with their wives," says the jeweler. "There were lots of Americans and French...
...computer models were crunching the same data, there was a higher probability that hedgies would make the same bad bets, potentially causing a devastating cascade of failures. With so many fund managers following the herd, in other words, there was a greater chance that they would go over a cliff together. "A bank run doesn't affect just one bank," says Andrew Lo, a finance professor at MIT who applies ideas from psychology and evolutionary biology to investment. "It can easily spread to the entire banking industry. What we're seeing now [in hedge funds] is a bank...
...Given the twin burdens he bore of a dismally unpopular incumbent Republican President and an already staggering economy that fell off a cliff in October, it is possible that McCain never had a chance. For all his cred as a maverick, McCain built that reputation on issues like tobacco, campaign finance, pork-barrel spending, immigration and torture, all of which were peripheral to the general-election debate. Meanwhile, on problems that worried voters most - the economy, health care, jobs - neither McCain's record in the past nor his proposals for the future were distinguishable from the standard Republican fare promoted...
...believe his presidency will be guided by honesty and justice. His heart will be on the side of the people. People will be inspired to think of new directions to take this country. He is our best possible chance to step back from the edge of the cliff...