Word: debt
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...Policymakers have failed to match increased job insecurity with a corresponding expansion of social welfare. It's true that Japan's public debt is approaching 200% of GDP - the highest among developed countries - which limits the government's options. Still, the state must deepen the social safety net to better cover the underserved: young workers and families. This will help reverse the population decline, rebalance growth toward domestic demand and remove the need to mitigate unemployment by propping up inefficient companies and farms. Japanese citizens will have to make sacrifices - they may have to pay more taxes, for example...
After taking the reins of the company when Paulson went to Treasury in July 2006, he accelerated Goldman's transformation from a firm that depended on its clients for investment-banking revenue - fees generated from advising on deals to underwriting debt and equity securities - to one whose clients are driving a resurgent trading and risk-taking business. Goldman has a tradition of taking trading risks. In the postwar era, the firm's DNA has always combined the interlocking strands represented by two of the world's foremost risk arbitrageurs - first Gus Levy and later Robert Rubin - with the investment-banker...
...We’ve lost an innocence bred from willful ignorance, which blinded Americans to the steroid-fueled excesses of the Juiced Era and the debt-fueled excesses of our economies’ latest Gilded Age. If from now on we must live with slower growth, fewer home runs, and the genuine, Little Papi...
...party has said it plans to cut waste and rely on untapped financial reserves to fund their programs. But with Japan's public debt heading toward 200 percent of gross domestic product, the Democrats plan has been criticized as a financial fantasy that would worsen Japan's precarious fiscal health...
Magna's two biggest competitors, U.S.-based Lear Corp. and Delphi, are teetering on the brink of collapse. Lear filed for Chapter 11 bankruptcy protection a month ago, citing the need to restructure $3.6 billion in debt. Meanwhile, Delphi, a former GM subsidiary based in Troy, Mich., and that automaker's biggest parts supplier, emerged from bankruptcy protection in June after unloading $6.2 billion in pension liabilities on the Pension Benefit Guaranty Corp. (PBGC), a U.S. government agency whose job is to protect private pension plans. (See the 50 worst cars of all time...