Word: feds
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Dates: during 1990-1999
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...Manhattan. According to the Wall Street Journal, authorities are investigating whether some $200 million allegedly laundered through the Bank of New York was siphoned off IMF funds loaned to Russia to stave off its financial collapse. It?s happened before - in 1996, Russia?s own central bank (their Fed!) funneled $1.2 billion in IMF money to an offshore holding company, never to return - and if it?s happening again, the clues are everywhere...
...best way to describe Tuesday?s report that the Consumer Price Index had risen a reasonable 0.3 percent in July (and an even more reasonable 0.2 percent excluding volatile food and energy prices). The morning news sparked a comfortable little rally based on a comfortable little assumption: When the Fed meets on August 24, Alan Greenspan will nudge up interest rates by a quarter point, and just a quarter point. "If you look at the general slope of the numbers, it?s apparent that inflation pressures are picking up a little," says TIME senior economics reporter Bernard Baumohl...
...indeed a well-known fact that Cornel West is one of the best communicators on earth," said April Yvonne Garrett, a former student. "As a student, I always felt like my brain was being fed the finest information in the universe. I was always amazed that he could communicate the most difficult concepts so that the average person could understand them and apply them," she said...
...would have known it too. The tax cut is too damn big. It?s supposed to differentiate the Republicans from the Clintoncrats, and it certainly does. The problem is that all those years of rightward, ho! has left Clinton as the fiscal conservative (with a Reagan-appointed Fed chairman on his side) and Republicans as the fiscal profligates. The boomers already got their money in 1981; now that they?ve got leftovers, they want to squirrel some of it away for when they get old. For when their kids get old. To pay down the debt they ran up then...
...tidbits: Even a big tax cut, properly phased in, wouldn?t spark inflation. And it certainly would be preferable to frittering it away on new spending programs. But give Big Al his druthers, and he?d rather pay down the debt. It isn?t surprising that the Fed Chairman, whose speeches are the economic equivalent of Rorshach tests, left both sides with enough soundbites to claim his support. On his list of preferences, the tax cut ranks second. The Clinton plan certainly bears some characteristics of a spender?s plan ?- that?s certainly what the Republicans say. But the voters...