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...prompting some belt-tightening in the entertainment industry. NBC Universal is cutting $500 million from next year's budget and Viacom's Paramount Pictures is shrinking its slate from 25 movies a year to 20. But how bad the industry is hurt and which sectors are hit hardest will depend in part on an important calculation that consumers make - how much is an hour of fun worth...
Beneath the froth, Syria's financial picture is still grim. Oil production--which once accounted for 90% of government revenue--is on the decline. Inflation has rendered unsustainable the food and fuel subsidies on which millions of poor Syrians depend. Enter President Assad, who Syrians hope can help attract much needed foreign investment. Once persona non grata in the West, Assad is more secure than ever at home and abroad. The violence that followed U.S. regime change in Iraq has raised his profile in a region where stability is often valued over freedom. In August, French President Nicolas Sarkozy became...
...said you think that as a prime minister your husband will be judged on par with Churchill. How will history judge his efforts in the Middle East, and what will that verdict depend upon...
...reckless past. Homeowners won't want to borrow so much. Savings, which have been near zero, will go up - good for the economy in the long run but bad for an economy going into recession. While some large firms may be sitting on a bundle of cash, small firms depend on loans not just for investment but even for the working capital to keep going. That's going to be harder to come by. And the investment in real estate, which played such an important role in our modest growth of the past six years, has reached lows not seen...
...finest points become obscured by abstract digressions that don’t project a clear message of how to find solutions. He has an impressively broad perspective on the state of global development and makes a compelling argument that America’s economic well-being and global standing depend on investing more in energy leadership. He also draws attention to the implications of energy poverty in emerging markets and the potential power of nations who control supply. But he only provides two, broad suggestions to households: lead a personally sustainable life (Friedman, incidentally, lives in an 11,400 square...