Word: feds
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Dates: during 2000-2009
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...Board failed to prevent a succession of bank failures and, thus, failed to inspire confidence in the market in 1932 and 1933 because it lacked the “vigorous intellectual leadership” necessary to do so. Weak leadership did not overcome antagonism between the 10-year-old Fed and the New York Clearinghouse—a fate that could befall Geithner’s public-private fund today...
Congress, well-fed and self-satisfied, can catch its wind now. It has put together a $789 billion stimulus package to get the economy on the road again. The most interesting and obtuse comment about the new plan came from Senator Harry Reid, who said the legislation would create 3.5 million jobs...
Peanut butter's true inventor is unknown, but Dr. John Harvey Kellogg has as good a claim to the title as anyone. In 1895, the cereal pioneer patented a process for turning raw peanuts into a butter-like vegetarian health food that he fed to clients at his Battle Creek, Mich., sanatorium. The taste caught on, and in a few years, the spread had gone mainstream...
...majority of cattle in the U.S. are reared on grain and loads of it--670 million tons in 2002--and the fertilizer used to grow that feed creates separate environmental problems, including surface runoff that leads to dead zones in coastal waters like the Gulf of Mexico. Those grain-fed cattle then belch methane, a greenhouse gas that is 20 times as potent as CO2. "Reducing beef is the first step to a green diet," says Michael Jacobson of the Center for Science in the Public Interest (CSPI...
...view, yields on U.S. 10-year Treasury notes will fall to between 1.5% and 2% by the end of 2009. This is because the banks are broken and their customers are keen to spend less. The monetary base, the money element that the Fed can control, is a fraction of credit outstanding in the U.S. system ($2 trillion versus $47 trillion). No matter how fast base money is pumped up, the reduction in credit outstanding will overwhelm it. During this phase we should expect credit contraction and its attendant deflationary effects on asset prices and consumer goods and services...