Word: grossing
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...with determining when the U.S. is in a recession, announced yesterday that the last peak in economic activity occurred in December 2007, marking that month as the start of the current recession. The committee pinpointed the month when U.S. growth dipped into negative territory by using monthly indicators including gross domestic product and consumption measures, most of which have plunged in recent months. MIT economics professor James M. Poterba ’80, the president of the NBER and a member of the business cycle committee, said yesterday that payroll employment is the strongest indicator in determining the highest point...
...cash left before it will run out of money, and the Federal Government was forced to rush to halt a shareholder run on the giant banking conglomerate Citigroup. Unemployment has risen to 6.5% and is expected to hit 8% by next year, if not higher. Some economists predict that gross domestic product will shrink at a 5% annual pace in the fourth quarter and perhaps 3% or 4% in the first three months of next year as a result of a squelching of credit by banks and a crushing plunge in consumer spending. Those factors have convinced Obama that...
...afternoon with her is a long walk through the schizophrenia of the Cuban economy, still caught in the maw of the U.S. blockade and hampered by its own gross inefficiency. At an open-air market behind the capitol, mangoes, okra, guavas and limes are everywhere--and cheap. Good thing too because most Cubans earn from $15 to $25 a month and survive off the ration books that offer them sugar, rice, beans and (only for the elderly) cigars. But to get past subsistence, you need to shop at the air-conditioned hard-currency stores. That's where Damaris goes...
...Dean of Harvard College to U.S. Citizenship and Immigration Services in lieu of an actual diploma. This allowed many graduating seniors with job offers to effectively compete in the visa lottery. This practice, which had been commonplace during the tenure of former Dean of Harvard College Benedict H. Gross, petered out when Gross left the office in 2007. Now that the College is benefiting from the leadership of Dean Evelynn M. Hammonds, we hope to see this practice reinstated. On a broader level, the entire American immigration system needs comprehensive reform. The United States should adopt a totally open immigration...
...meeting reflected both the United States’ desire to maintain open markets and Europe’s desire for more heavy-handed regulation. The G-20, established in 1999 and made up of 19 countries and the European Union, represents 90 percent of the world’s gross national product. The group will reassemble in London next April. —Staff writer Lauren D. Kiel can be reached at lkiel@fas.harvard.edu