Word: globalizing
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Dates: during 2010-2019
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Caballero, who is from Chile, is not absolving American bankers and regulators. But he says investigators and lawmakers who are looking into the financial crisis are spending too much time grilling Wall Streeters and not enough time looking into the global imbalances that are largely to blame. "What worries me is Congress trying to create new regulations, but not asking where the pressure was coming from to create these products," says Caballero. "In terms of formulating a solution, just looking at the U.S. financial system is not the answer...
...foreigner investors' role in America's credit boom and bust is debatable, what's beyond doubt is that this aspect of the crisis is not getting as much attention as, say, bankers and their bonuses. On Thursday, the Financial Crisis Inquiry Commission wrapped up its second day of hearings. Global imbalances is one of the 22 areas that the panel is supposed to investigate as a possible cause of the credit crunch. But in two days of hearings, which included testimony from top financial executives, economists, analysts, regulators and a hedge fund manager, there wasn't a single question that...
...make economic growth impossible. The American economy, when it is not in recession, has typically grown about 3% per year since the 1970s. Countries with malaria, by contrast, lose 1.3% of that potential growth - nearly half - just to the consequences of the disease, according to a study by leading global economist Jeffrey Sachs. "It's like a huge tax on economic growth," says Hall...
...Malaria, he says, is "a dark cloud. We're talking about the deaths of small children. They can't get past the age of 5. I don't know if you can measure the full impact of that." You can't. Nor can you measure the sense of global relief when that kind of suffering is over for good...
...disruptive, to put it mildly. It's hard to put a positive spin on rising seas, increased drought and wildfires, shrinking water supplies and more acidic oceans. For the plants that form the very foundation of the food chain, though, an argument can be made that both global warming itself and the rising carbon dioxide levels that cause it are actually a good thing. CO2, after all, is essential for the photosynthesis that most plants depend on for nourishment. And as winters get milder and shorter, plants will have longer growing seasons. More food plus more time...