Word: downward
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...world is serious out there. Not only am I in the thick of classes and all else that school entails, but with the downward turn in the financial markets, even that “outside world” seems pretty heavy right now. So when I walk into a bookstore, all I want is to get that warm and fuzzy feeling inside. Here’s to those covers that are just nice eye candy. Yummy! DEWEY: THE SMALL-TOWN LIBRARY CAT WHO TOUCHED THE WORLD by Vicki Myron with Bret Witter Beautiful, brown, doleful eyes look out from...
...sunny Malkmus-style intro riff, the bright multicolored lighting, the stuffed gorilla holding a baseball bat—but I know there’s something evil going on here. Just look at drummer Greg Saunier’s devilish eyes as he viciously hits his cymbal in a downward stabbing motion, or how the band seems to revere the stuffed gorilla that eventually takes down one of the weaker band members. Perhaps this strange creature is the brains behind their apocalyptic plot. As tension rises, the camera is turned away from the video set to show five seated, disinterested...
...mention Western Europe - is in the grip of a downward spiral that financial experts call deleveraging. Having accumulated debts beyond what's sustainable, households and financial institutions are being forced to reduce them. The pressure to do so results from a decline in the price of the assets they bought with the money they borrowed. It's a vicious feedback loop. When families and banks tip into bankruptcy, more assets get dumped on the market, driving prices down further and necessitating more deleveraging. This process now has so much momentum that even $700 billion in taxpayers' money may not suffice...
...Consumer confidence is also being dented by sliding property prices. India's property market, which has seen 30% to 50% annual price growth in recent years, is weakening. "The sustained climate of high interest rates, combined with an equity bear market, has been putting downward pressure on pricing across real estate asset classes," says Raj Inamdar, chief investment officer at SRM Realty Advisors in New Delhi. China, where construction of commercial and residential projects has been especially rampant, may be facing "an imminent bust of a real estate bubble," Merrill Lynch warned in a September report. A recent survey...
What, then, needs to be done? Government and central bank action, around the world, must have two objectives. The first is speedy intervention to prevent a self-perpetuating downward spiral, which means protecting depositors at minimal long-term cost to the taxpayer. The second is to ensure so far as possible that future booms are less exaggerated. This has implications for the form of any rescue package, and for the system of financial oversight that is put in place...