Word: economisters
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...recession should be short-lived, thanks to recent Federal Reserve rate cuts and rebate checks of up to $600 a household that families can expect by September, compliments of last month's $1.35 trillion, 10-year tax cut. (Singles without kids will receive about $300.) Richard Berner, chief U.S. economist for Morgan Stanley, says that while a recession may have got under way in the spring, the rebates should underwrite modest growth by this fall. (A recession is commonly viewed as two consecutive quarters of shrinking GDP.) Says Berner: "It's likely to be the shortest and mildest [contraction...
...Neither side is particularly positive about the prospects for the cease-fire - their demeanor speaks of a truce imposed from the outside by an international community concerned to keep a lid on the crisis. As the Economist put it, this is a "peace of the truculent." Both sides are accusing the other of failing to do their bit (the Palestinians are not arresting Hamas and Islamic Jihad members; the Israelis have not comprehensively lifted their closure of Palestinian areas) and warning that time is running...
...announced to a crowd of 15,000 (including Al Gore), who giddily bathed in his mojo. The 20-minute speech mixed star anecdotes with stories from Bono's Third World debt-relief tour, which he described as "a surreal crossover act, a rock star, a Kennedy and a noted economist crisscrossing the globe like the Partridge Family on psychotropic drugs." By the time Bono called incoming Harvard President Lawrence Summers a "nutcase and a freak"--he meant it as a compliment--many students were chanting and exhibiting signs of deep Elvis, proving you can bring cool to Harvard, but nothing...
...wonder Atlanta Magazine recently found that city residents are more likely to live next door to a topless dancer than a corporate employee of the Atlanta-based Coca-Cola Company. "Welcome to Sex City - Hope You Brought Cash" was the title of the magazine article in which an economist estimates that nudie bars generate greater economic impact than the Braves, Falcons and Hawks professional sports teams combined. "Conventioneers swarm to the Atlanta strip clubs because no matter where they live they probably don't have this honored combination of nude dancing and alcohol," says attorney Alan Begner, who represents nearly...
...tell you as an economist that fewer people will be employed,?he says. ?ut is there a net good outcome or not? You need to think of the potential pool of Harvard employees. Some will earn more, and some presumably won? work for Harvard any more...