Word: economist
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Before Ben Bernanke was chairman of the U.S. Federal Reserve, he was an ivory-tower economist who trained at Harvard and MIT, taught at Stanford and Princeton and may have learned more about the Great Depression than anyone else on the planet. One thing he knew was that he never wanted to see another...
...economist behind this year's report is used to hearing people marvel at how much kids cost. "I tell them children also have many benefits," he says, "so you have to keep that in mind." There are, for instance, all the things parents probably don't do as often when the kids are grown. Will we still make bonfires on the beach, collect driftwood and fairy glass, make s'mores even though no one really likes them, since marshmallows surpass superglue for stickiness? Will we still carve jack-o'-lanterns, color Easter eggs - or will holidays feel like formalities...
...comes on top of last year's $14 billion farm loan waiver program, price supports for agricultural products and an ambitious jobs scheme, which guarantees 100 days of work to the poor in rural areas. "There's only so much that any government can do," says Indranil Sengupta, an economist at Bank of America/Merrill Lynch. "When you look at the scale of human suffering, whatever you do will look inadequate...
...minister Peter Mandelson had held a brief conversation earlier this month with Seif Gaddafi, when the two men met on the Greek island of Corfu, where they were both vacationing. Mandelson's staff said the politician made no assurance of Megrahi's release. Still, says Mohammed-Ali Zainy, senior economist at the Center for Global Energy Studies in London, "There can be no dispute that this strengthens the relationship between Britain and Libya." Mandelson has since said that the allegation of a trade deal between the U.K. and Libya was "wrong, completely implausible and... quite offensive...
...Economist Heidi Shierholz of the Economic Policy Institute says the economy has lost 6.7 million jobs since the beginning of the recession and that the stimulus bill thus far has generated 750,000 jobs. But in addition to the nearly 7 million jobs lost, the national economy has failed to add the 127,000 jobs per month needed to keep up with population growth. "The real employment hole is 9.1 million jobs," says Shierholz. "The stimulus bill is great, but it will only generate 3 to 4 million jobs. Now that we can see how dramatically things have deteriorated...