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After weeks of calls by the Japanese government to do something about deflation and the fast appreciating yen, the Bank of Japan held an emergency meeting Tuesday - and decided what the world's second largest economy needs is more money. Central bank governor Masaaki Shirakawa announced steps to step up monetary easing by injecting 10 trillion yen (about $115 billion) into Japan's financial system. Shirakawa told reporters that these steps could be considered "quantitative easing in a broad sense." The eight-member policy board also unanimously voted to maintain the Bank of Japan's key short-term interest rate...

Author: /time Magazine | Title: Why Japan's Latest Attempt to Boost Its Economy Won't Work | 12/1/2009 | See Source »

This Thanksgiving weekend, an entirely different meal dominated holiday conversation across the nation. President Barack Obama’s first state dinner, held on Nov. 24, proved eventful not because of its guest list of notable dignitaries and celebrities, but due to the presence of uninvited attendees Michaele and Tareq Salahi. These “gatecrashers” managed to infiltrate the private event allegedly in hopes of securing a place in reality television. Their actions reveal our culture’s peculiar and unfortunate fixation with celebrity status and Americans’ desire to achieve it by whatever means...

Author: By The Crimson Staff | Title: Party Crashers | 12/1/2009 | See Source »

Alex Voorhoeve, who has written on equality and responsibility and the theory of rational choice, advocated dialogue form over “monologic” writing as a means of grappling with tough ethical questions in a panel discussion held last night at the Barker Center...

Author: By Janie M. Tankard, CONTRIBUTING WRITER | Title: Author Talks on Ethics | 12/1/2009 | See Source »

...moving in a new direction. And going forward, we will be clear about what we expect from those who receive our assistance. We will support Afghan ministries, governors and local leaders that combat corruption and deliver for the people. We expect those who are ineffective or corrupt to be held accountable. And we will also focus our assistance in areas - such as agriculture - that can make an immediate impact in the lives of the Afghan people...

Author: /time Magazine | Title: Full Transcript of Obama's Speech | 12/1/2009 | See Source »

...negotiating table to be able to wring out payment. Dubai's on-balance-sheet debt seems to be about $80 billion (and some observers believer there could be a substantial amount of off-balance-sheet debt as well). About 40% of the official debt is held by British banks, 30% by E.U. firms, about 9% by U.S. institutions and 7% by Japanese ones. According to a source close to Dubai World, the city-state's representatives now wants to write off some $30 billion of its debt...

Author: /time Magazine | Title: Can the Banks Force Dubai into Foreclosure? | 12/1/2009 | See Source »

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