Word: feds
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...warns TIME senior business writer Bernard Baumohl, if the Fed misinterprets the signs - which it might well do - it could plunge the economy into a recession. "We have an ideal situation here where the economy is growing at twice the speed limit set by the Fed, and yet inflation pressures are actually diminishing," says Baumohl. "That challenges the Fed's basic assumption that the economy can't experience prolonged growth above 3.5 percent without inciting inflation. That's exactly what we've seen for several years now, but Alan Greenspan still believes we're overheating...
...Fear of the specter of inflation will likely prompt further interest rate hikes by the Fed - Baumohl expects rates to rise a half percent by the summer - but the economy may already have gotten Greenspan's message. "Remember, the latest numbers are already out of date," says Baumohl. "Many analysts believe the economy is already slowing to a growth rate closer to 3.5 percent as the effects of the rate hikes since last June are felt." But the new numbers highlight a growing debate among economists over whether the rules of the economy have changed. While the Fed remains wedded...
...Before, people lived like apes--everybody fed himself," Wrangham said. "[With] cooking, it became worthwhile to bring food in large quantities to a central location, and the concepts of ownership and theft came into existence...
...over the state) applauded loudly after each statement made by their two speakers, no matter how trivial. Neither did the armed guards and police barricades create a comfortable atmosphere for compromise. But mostly, it was the fierce denial of the motivations and causes of anti-abortion extremists that fed the distrust and anger on both sides...
...matter the appeal of an eight-year-old's energy and cocky smirk, that child doesn't live in a world dominated by volunteer big siblings. She doesn't go to sleep, wake up and get fed in my dorm; I don't take care of her seven days a week--and at this moment in my life I couldn't do so no matter how much I might want to. We, and they, need the adults in their lives to promote their healthy long-term development in the six and a half days a week when...