Word: downward
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Dates: during 2000-2009
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Like Brown, Newsom says California is in bad shape. But he adds that he will offer a more hopeful message than one anchored by austerity. "There are two ways to respond to our current crisis," Newsom said. "One, we can cut our way out. But then we enter a downward spiral of disinvestment. The other is, we can grow our way out of our problems. That's where I am. This state has such amazing capacity for change, for economic development. We need a strategy to grow." (Watch a video about gay marriage in California...
...seem to be starting to rediscover thrift. Debt levels are falling. Consumer spending is down. The savings rate is on the rise. Great, right? Not exactly. The sudden sobering up of the American consumer happens to be the No. 1 force driving the U.S. and global economies downward. We're saving more, yet we're all getting poorer...
This kind of behavior, contends McCulley, is what the paradox of thrift demands. "Uncle Sam has got to go the other direction and lever up his balance sheet and actually spend money," he says. Simply standing by and letting the downward economic spiral worsen strikes him as "inconsistent with a civilized society...
...eating their heads last. 9. I can't grow hair on my arms. 10. Two of my best friends are under five feet tall and I have an intense fear of midgets. 11. I think yoga is incredibly spiritual. I know the Lord is with me in my downward dog. (See pictures of facial yoga.) 12. I was born with jaundice. 13. I was born pigeon-toed. 14. I was born with an extra kidney. I wish I could have sold it on the black market and made some money, but it was underdeveloped and did nothing but cause...
...this current downturn as well, Walker's dim views, which at first seemed on the fringe, now appear less farfetched. The International Monetary Fund (IMF) in late January revised its forecasts for 2009 sharply downward, predicting the slowest global growth rate since World War II, at only 0.5%. IMF chief economist Olivier Blanchard said he expects "the global economy to come to a virtual halt." Even China would record only 6.75% GDP growth in 2009, according...