Word: depressionitis
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While the Treasury auction grabbed headlines, corporate bonds are doing equally amazing things: the average yield on lower-quality investment-grade corporate bonds - triple-B rated - is hovering around 10%, an unusually rich 7.5-percentage-point spread over Treasury bonds of similar maturity. (That spread has tripled over the past...
It was only on the first of December that we finally got formal permission - from the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) - to call what the U.S. economy is experiencing a recession. Just a few days later, after the Labor Department announced that U.S...
Forgive members of Congress if they feel a sense of déjà vu this week. After all, they, and we, have all been here before - not so long ago, in fact. The economy is teetering, on the brink of collapse, and if the House and Senate don't...
Scrabble was conceived during the Great Depression by an unemployed New York architect named Alfred Mosher Butts, who figured Americans could use a bit of distraction during the bleak economic times. After determining what he believed were the most enduring games in history - board games, numbers games like dice or...
For those Harvard students wondering how the first National Poet of Wales gets over her writer’s block, Gwyneth Lewis says pressure is often the way to blow the lid off the can. “It’s amazing how a looming deadline will unfreeze you...