Word: economisters
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...coalition's most likely candidate is Adel Abdul-Mahdi, a French-trained economist and political chameleon. Having been, at various points in his career, a communist, a Ba'athist and a secular liberal democrat, he has switched directions so many times it's hard to know which way he's going. These days, Abdul-Mahdi represents the Shi'ite-fundamentalist Supreme Islamic Iraqi Council (SIIC), which, like Maliki's Dawa Party, is beholden to Tehran. Twice in the past two years, Abdul-Mahdi has told journalists he was on the verge of quitting the SIIC to form his own party...
...debate among economists now is whether another move by China's central bank to raise interest rates - which have already been hiked three times in the past year - will ease growth and inflation. Much depends on the next monthly inflation report, which will indicate whether, as Jun Ma, chief economist for greater China at Deutsche Bank in Hong Kong believes, price rises peaked in July and will now recede. Ma notes that certain key produce prices fell by about 1% in early August, and thus the central bank "doesn't need to overreact...
...help when lenders Countrywide and Washington Mutual subsequently issued dire warnings about losing liquidity because so few people want to buy mortgages on the secondary market right now. "One of the most interesting things is, we don't know who's going to suffer," says Karl Case, a housing economist at Wellesley College. "Obviously, the people who get foreclosed against suffer. That goes without saying. But who bears the losses ultimately is really complex." We can start with the stock markets around the world, which have surrendered $3 trillion in value over the past month, thanks in large part...
...houses don't trade like stocks, so when it comes to correcting the system when it gets out of whack, we're talking years, not weeks. "Real estate," says housing economist Thomas Lawler, "is a slow, tedious process." In July, after the two Bear Stearns hedge funds first ran into trouble, bond guru Bill Gross of Pimco wrote a foreboding investment outlook, pointing out that hedge funds tied up in trading are the top layer of the problem, not the root. That can be demonstrated in the Mile High City and, as Gross wrote, "in the Summerlin suburbs...
...Banks get much of their profit from the interest they earn by lending out the money held in long-term deposits, but check cashers depend on a high volume of small transactions to generate revenue through fees. "The changes are not that simple," C.K. Prahalad, a University of Michigan economist and expert on marketing to the poor, says of the different ways banks need to operate to serve these customers...