Word: furtherance
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As a result, it's unlikely that any of the $1 trillion Obama wants for his "bad bank" will be turned into credit that helps revive business and consumer spending. The main reason is that the North-American economy might be stuck in a classic liquidity trap, first witnessed during...
Under the new plan, servicers, the companies that collect mortgage checks, will be paid $1,000 every time they cut the interest rate on a loan to reduce the monthly payment to no more than 38% of a borrower's gross income. The government will split the cost of reducing...
To mark the anniversary, many Tibetans conducted a widespread campaign of civil disobedience this Lunar New Year against authorities in other heavily Tibetan areas of China, like Qinghai, where around half of the country's 6 million ethnic Tibetans live. And with a probable boycott of Lunar New Year celebrations...
If the sentiment in areas like Qinghai is anything to go by, further protests, arrests and possibly worse seem inevitable given the depth of anger among the Tibetan population. Most Tibetans here refused to undertake any of the public activities that usually mark the coming of the New Year. "There...
In lieu of further oil revenue, Iraq will have to raise cash elsewhere to maintain roughly the existing level of government spending, which U.S. and Iraqi officials feel is necessary to keep the economy steady. Despite surpluses and positive economic signs, Iraq cannot currently generate cash on capital markets like...