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...fact, the state provided hordes of slave workers, helots, to work the lands of “equals.” Sparta’s economic and social arrangement was built around the assumption that colonized cities would be enslaved and, thanks to their labor, Spartan armies would be fed and clothed. How is that for an “age of freedom?...
...equities and whether it will turn into a bear market, you first need to analyze the remarkably heady period that preceded it. Fearing deflation after the meltdown of tech and Internet stocks in 2000 and the terrorist attacks of Sept. 11, 2001, the U.S. Federal Reserve Board cut the Fed fund rate from 6.5% to 1%. The easy availability of low-cost loans triggered a dramatic rise in borrowing, which lifted the prices of all assets, including stocks, real estate, commodities, bonds, art and wine. As U.S. consumption boomed, the nation's trade and current-account deficits exploded. But when...
...maintains, or are we faced with the beginning of a bear market? I believe it's the latter. For a start, monetary conditions and international liquidity have tightened as a result of slower credit growth and a housing slump in the U.S.-and no matter how much money the Fed injects into the system, housing is unlikely to recover swiftly because ultimately prices depend not only on money creation but also on demand and supply. Equally ominous, equity valuations remain decidedly unattractive in most markets, especially in places like Latin America, Russia, India and China, which had risen almost relentlessly...
Given her enthusiasm, it comes as no surprise when Rodriguez says she works at MobiTV for the people. She has fed off the excitement of the start-up since the day she came to work, her laptop and mobile phone in tow. Her work ethic, she says, comes from her entrepreneurial family and a father who has done everything from construction to property development. Having grown up on a ranch as the youngest of five, she jokes that she was on the family payroll...
Eating locally also seems safer. Ted's neighbors and customers can see how he farms. That transparency doesn't exist with, say, spinach bagged by a distant agribusiness. I help keep Ted in business, and he helps keep me fed--and the elegance and sustainability of that exchange make more sense to me than gambling on faceless producers who stamp organic on a package thousands of miles from my home. I'm not a purist about these choices--I ate a Filet-O-Fish at McDonald's on the way to Ted's farm. But in general, I have decided...