Word: creditably
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...fact that every worker is a consumer. Layoffs set in motion a vicious cycle that undermines a major pillar of any expansion. Consumer confidence drives the process that is the largest single component of GDP. In this recession, the trouble is compounded by an unprecedented lack of access to credit because of housing prices and the near failure of the banking system. (See pictures of office cubicles around the world...
...let’s give credit where credit is due. One legislator has taken his fake responsibility to provide fake services to his fake constituents in California with unparalleled humility. According to the press release from his “office” Representative Jonathan Padilla D-California Winthrop has launched a website in order to “help inform my constituents about what I’m doing in Congress and how they can get involved in helping to make America a better place?...
With merciless ferocity, the credit crunch has taken its varying toll on each of the European Union’s 27 diverse nations, dashing many semblances of unity among member governments. The need to “stick it out in tough times” is easier said than done. The largest and most threatening fracture divides new EU countries from old and has caused Prime Minister Ferenc Gyurcsany of Hungary to warn against “a new Iron Curtain” that could once again divide the continent. A solution must be formulated to prevent that development...
...Indeed, the strife caused by the credit crunch only heightens the importance of economic unity. A shared currency, cross-national lending, and numerous Western investments in the East intrinsically link the welfares of European countries. Should one country go under, the detrimental effects felt across the whole of Europe would be monumental. To an even greater extent, the well-being of the European Union as a whole depends on the respectable performance of each constituent member. Failure to remain united may breed disillusionment with Western capitalism and leave Eastern Europe dangerously susceptible to Russian influences. Thus, for the sake...
...Tibet and sell arms to what the Chinese regard as a “break-away” province, Taiwan. We compete with China for natural resources and influence in the developing world. Now, the only reliable component of the equation, economic interdependence, is threatened by the global credit crunch, which is closing off China’s export markets and inducing it to spend more of its yuan at home, rather than in buying up U.S. treasury bonds...