Word: excessions
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...Caballero’s customers is that they seem to embrace their greater access to security in a particularly conspicuous and inconsiderate manner. No one would insist that all Mexican citizens bear the burden of the heightened crime rates equally or that wealthy and influential Mexicans pour all their excess funds into law enforcement; however, it is fair to expect that all Mexican citizens show some engagement and investment in the problems, even when they are not as directly affected as their fellow citizens. A crime is not merely the making of one criminal nor the tragedy of its victims...
...lone surviving gunman, according to police sources, spoke of how, in the remote jihadi training camps where he was indoctrinated, instructors would rail against the sinful city of Mumbai, decrying its excess and materialism and corrosive foreign influences. The worldly aspirations of Mumbai's diverse millions, they said, would be cowed by a spectacle of fire and brimstone. In the immediate aftermath, the attackers appeared to have gotten their way. All hope did seem abandoned amid the din of public grief and fury with a government many felt incapable of protecting its people...
When the ancient Assyrians felt the painful aftereffects of excess merriment, they consumed a mixture of ground birds' beaks and myrrh. European doctors in the Middle Ages recommended raw eel and bitter almonds. Mongolians ate pickled sheep's eyes, while China went with a more palatable dose of green tea. Germans still eat Katerfruhstuck, a postbinge breakfast that usually consists of herring, pickles and goulash. Russians don't eat anything at all; they jump in a sauna and sweat it all out, sometimes flagellating themselves with birch branches to aid blood flow...
...Because what we have is not a crisis of liquidity but rather a crisis of confidence. With tremendous excess reserves, it is obviously not the case that banks are not lending money because they do not have the money to loan. Instead, they are afraid that other institutions, including other banks, will not pay it back. The banks do not have confidence in each other. Businesses, too, are disinclined to borrow money and take risks. And consumers are not spending because they are afraid they could lose their jobs...
...from being helpful, the Treasury worsened the situation by increasing the liquidity of the financial sector through its bailout. However, the greatly enhanced lending capacity of depository institutions has not yet reached the money supply, as evidenced by the tremendous level of excess reserves. When it does, the Fed will find it difficult indeed to summon the political will, or find the ability, to soak up all this excess liquidity. Recessions ordinarily lead to deflation or disinflation, which increase the real value of assets and act to end the recession by fostering spending. This natural and necessary corrective mechanism will...