Word: feds
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...Taking the long view, the global economy is at a remarkable moment. Whatever the chance of a recession this year, the U.S. has experienced what the economist and former Under Secretary of the Treasury for International Affairs John B. Taylor of Stanford University calls a "long boom" since the Fed started to squeeze inflation out of the system in 1979. For nearly 30 years, Taylor points out, the few downturns the U.S. has suffered have, in historical terms, been both short and shallow. Even more extraordinary is the tale outside the U.S. According to the World Bank's recent Global...
...very shallowness of the last recession is part of what's causing worry now. In 2001 most businesses cut back sharply on spending. Thanks to the superlow interest rates set by the Fed, though, households plowed on, and for the first time ever, consumer spending kept rising during a recession. It continued rising afterward, much faster than incomes, with Americans paying for the difference by taking on more and more debt. That debt spiral is now unraveling, and the ensuing credit crunch could crimp spending for years...
Still, people need to eat, and since World War II, outright declines in consumer spending in the U.S. have always been modest and brief. That's partly because the government has become so acutely responsive to signs of distress. The Fed is already on the case, with three interest-rate cuts since September and more likely on Jan. 31. There's also fevered talk in Washington of a fiscal-stimulus package--income-tax rebates are a possibility, although so far Congress and the White House haven't been able to agree on anything...
...those more primal attributes into modern love. She believes it all comes down to the long-term health of children. Haselton calls romantic love a "commitment device," a mechanism that encourages two humans to form a lasting bond. Those bonds help ensure that children survive to reproductive age, getting fed and cared for by two parents rather than one. "Natural selection has built love to make us feel romantic," she says...
...Americans potentially could go into foreclosure on their homes. That has a rippling effect on the economy." Huckabee's prescriptions for giving the economy a quick boost, however, are hardly detailed or groundbreaking. The most he has done is issue a set of five principles that he calls "family, fed, fight, fuel, fair" and that sum up positions he had previously taken...