Word: greates
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...government is fighting the current recession as if it were the Great Depression of the 1930s. This reflects a serious misinterpretation of reality, one that will most likely persist beyond Inauguration...
Barack Obama's appointment of Berkeley professor Christina D. Romer as chairwoman of the Council of Economic Advisors is consistent with this orientation, as she is an expert on the Great Depression and may lend support to the unwarranted focus on the Depression. Indeed, Romer has supported the Fed's current monetary policy because she sees parallels with earlier financial panics. (See who's in President-elect Obama's White House...
...true that the Great Depression of the 1930s was a crisis of liquidity. Stocks plunged, banks went under, and the value of assets disintegrated. Our current policies would have been appropriate in the Great Depression, but they are not appropriate now. Liquidity problems are not the source of our current financial and economic woes. Incredibly, excess reserves of depository institutions have increased from under $2 billion in August to a record $774 billion in mid-December, according to the Federal Reserve's Dec. 18 release. But the banks have not taken advantage of this liquidity to increase their lending...
...blessed," he adds. "I'm healthy, I have great friends, and I have a new focus in my life, one I didn't expect three weeks ago. We can make this system better for everyone. This is now my mission...
...because this is such a contentious issue. I don't see myself as part of a culture war. I don't feel any particular glee in finding that virginity pledges don't work. Certainly it would be great if we had something that caused teenagers to delay sex. We do actually have these programs, but they're all sex education programs that actually teach birth control...