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...what about that higher cost of local goods? After all, big-box stores got to be big because their prices are low. Susan Witt says that the difference falls away once you consider the increase in local employment as well as the relationships that grow when people buy from people they know. (Plus, one could argue, lower transportation, and therefore environmental, costs, and you know what you're getting-which as we've recently seen with suspected contamination in toys and other products from China, can be a concern...
...sitting on the 20 or so acres it owns in Tysons to create a mixed-use development near a soon-to-be-built train station. Aaron Georgelas, the group's managing partner, is happy to donate land to the street grid, since the county will allow him to build higher because of it. He also knows that tearing down revenue-generating buildings to put up new ones - even if they're three times as large - is a gamble, particularly in the current economic climate. "You very well could be handing that property over to a bank," he says...
...hour train chug that quickly stops being quaint. Commuters toting guitars and mangoes are charming, but the carriage is grimy and the trackside views uninspiring. Yet Ayutthaya provides an eye-cleansing surplus of green after days in Bangkok's concrete maze (at admission prices that, while annoyingly higher for foreigners, are still minimal by world standards). Its sculptures and chedi ooze grandeur, not rot. And the Chao Sam Phraya leads the most impressive array of museums found in the country - worth much more than a day. Get a crack at meditation upon the ages: Ayutthaya is a mini-Angkor with...
...Finally, rising interest rates are often a harbinger of good things to come. Yes, an uptick in interest costs can slow a galloping economy. But in recessions, like we are in now, higher interest rates usually signal better economic times ahead, not worse. For instance, the yield on the 10-year government bond rose nearly 20% in November 2001 - the last month of that recession. Indeed, many economists believe the rise in interest rates now signals a return to normal, and not a sign that we are in for more trouble...
...Interest rates always rise when things are improving," says Lakshman Achuthan, managing director at the Economic Cycle Research Institute. "If higher interest rates choked off recoveries, then we would always be in recession...