Word: feds
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...Measuring the warming that has already taken place is relatively simple; the trick is unraveling the causes and projecting what will happen over the next century. To do that, IPCC scientists fed a wide range of scenarios involving varying estimates of population and economic growth, changes in technology and other factors into computers. That process gave them about 35 estimates, ranging from 6 billion to 35 billion tons, of how much excess carbon dioxide will enter the atmosphere...
...markets are obviously a lot better at discounting what the Fed's about to do than what companies are about to do. What has to happen before economy-related earnings news stops killing the markets...
...Another factor is the Fed. At the time this survey was probably taken, the Fed had already cut interest rates twice, and it was considered a given that Greenspan was going to cut again in March, at least by a half-point and maybe more. People have a lot of confidence that if the Fed is actively cutting interest rates, the cost of borrowing is going to be low and that's going to turn the economy around sooner or later...
...assistants like Palm Pilots, Blackberries and Handsprings. With an estimated 110 million Americans using cell phones and a growing army of PDA owners fetching their e-mail, stock quotes and news reports anytime, anywhere, there is growing alarm that these devices have collectively become as dangerous as a beer-fed teenager behind the wheel of a muscle...
...drawn-out hard landing. And there's a real case for an L-shape, he adds. That's L as in hell, a recession that is just starting and would last 18 months. His main concern is $4 trillion of vaporized stock wealth, which is crushing consumers. Biggs says Fed chief Alan Greenspan blew it; he was too slow to cut rates to stimulate spending and put a floor under the market. Meanwhile, the layoffs you've heard about recently won't hit until the second quarter, accelerating the slowdown...