Word: feds
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...everyone from homeowners to truckers to airlines will be paying more for energy. But the U.S. economy can withstand some big blows. The nation was emerging from recession on 9/11, and that event did not ruin the recovery (thanks to billions in tax breaks). A slowdown may give the Fed reason to suspend its interest-rate hikes, a prospect that has already sparked a bond-market rally. While Katrina's impact on the Gulf economy is devastating in the near term, an infusion of federal disaster-relief dollars should stimulate industries from homebuilding to appliances and help lift the economy...
...Pelosi found out after her Daily Kos encounter. Democratic aides complain that Matt Stoller, a blogger for mydd.com, another popular liberal site, never seems satisfied Democrats are being tough enough. "I don?t think we?re well-liked, necessarily," Stoller said. Bloggers often complain, moreover, about being spoon-fed information they could just as easily get on a senator's website. After Senate Republican leaders held a press conference for bloggers in March, a post on the website of the conservative magazine Human Events complained that "dumping a bunch of talking points on me only makes me angry...
...Chicago, the catering trucks were starting to pull up alongside the vans hawking flags from just about every Latino country stretching from Mexico south, the mothers with large grocery bags to keep their kids well fed during a long march and a long day, and the dozens of media trucks parked around Union Park on Chicago?s Near West Side. Some had been here all night; some were just rushing to join friends and strangers...
...chase has added $10 to $15 to the price of a barrel of oil, say economists. Nor do the fundamentals of global oil offer much hope for lower prices over the long run. The growth in demand is exceeding the growth of supply by 400,000 bbl. a day, fed by the rapidly expanding Chinese and Indian economies...
...safety net, especially when the government no longer provides free social services for its most impoverished citizens. Buddhist monasteries, which now shelter an estimated 200,000 monks, are reporting an influx of children whose parents feel the cloistered life is the best way to get their kids fed and educated. Others are spending what little money they have to court the gods. On the outskirts of Quanzhou, where locals pick tobacco leaves for a living, poor villagers have banded together to build a shrine to Kwanyin, the goddess of mercy. "We need her help," says farmer Zhou Bigong. "We work...