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...wide open for even more rate cuts, which would bring us into uncharted territory. The federal-funds target rate previously bottomed out at 1% from June 2003 to June 2004. The actual federal-funds rate did drop below 1% a few times in the 1950s, but that was another era - an era when the Fed didn't announce interest-rate targets, banks completely dominated the financial system and the U.S. completely dominated the global economy, and there was no such thing as a money-market fund...

Author: /time Magazine | Title: What the Fed's New Interest-Rate Cut Really Means | 10/30/2008 | See Source »

...size, a trifle in itself but part of a wider narrative broadcast by anti-Clark forces that New Zealand has become a nanny state. It's a perception strongest in rural areas, where many farmers feel suffocated by bureaucracy. Sometimes, their grievances sound more like longing for a bygone era, when farmhands weren't glued to their mobiles and trampers couldn't expect a payout for injuring themselves on private land. But it's also a case of where there's smoke there's fire: Clark could never be mistaken for a proponent of small government...

Author: /time Magazine | Title: Taking a Step to the Right? | 10/30/2008 | See Source »

...partying on your club’s lawn with the sleaziest pre-frosh to circling the globe in your club’s private hovercraft, Prestige and Mobility will go the extra mile. For example, be conventional. Wear clothes that look like they cost $3, but are from an era where $3 bought a house. That means powdered wigs, pocket squares, and fine Umbrian cod pieces—all of which are assets on the punch scene, particularly at The Bee. Show up early for the first mixer so you can greet the members as they arrive. Look sharp...

Author: By Daniel K Bilotti and Vincent M Chiappini, CONTRIBUTING WRITERSS | Title: Prestige and Mobility’s | 10/29/2008 | See Source »

Alain Lamassoure, a European Parliament member hailing from the south of France, stressed the importance of French and European engagement with the United States and said that a new administration in Washington provides the opportunity for a new era of transatlantic relations, at a speech at the Center for European Studies yesterday. Repeating phrases like “you and us,” Lamassoure’s words were carefully calibrated to make the United States and Europe sound close together, particularly in the event of a victory next week by Democratic presidential hopeful Barack Obama...

Author: By Ellen X. Yan, CONTRIBUTING WRITER | Title: U.S., EU Relations Touted | 10/29/2008 | See Source »

...government to 'spread the wealth around,'" he said outside the county government headquarters in Woodbridge. "In this country, we believe in spreading opportunity." Leaving the rally, supporters handed out black bumper stickers with the word change written in red letters, the c in the shape of a U.S.S.R.-era sickle and hammer...

Author: /time Magazine | Title: Why the New Virginia Is Leaning Toward Obama | 10/27/2008 | See Source »

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