Word: households
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Then consider the wealth effect, much debated but empirically documented, which suggests that every dollar of increased household wealth will, over a period of time, convert to 3 to 5 cents of spending. Calculators, please: 0.03 times $1.2 trillion equals $3.6 billion in spending. In an economy that is two-thirds consumer spending, that's another growth driver. One other thing about the wealth effect is that it works splendidly in reverse too. There's the prospect that Broun and his colleagues could be serving up a double whammy to households across the country: declining stock market wealth in addition...
...Palin on Wednesday on the sidelines of the U.N. General Assembly, where Zardari was making his debut on the world stage and Palin was meeting with visiting heads of state in the hopes of improving her much-derided foreign policy credentials. The resulting exchange turned Palin into a household name in Pakistan but saw Zardari pilloried at home as a source of national embarrassment, as he was accused of sexism and impropriety. (See photos of Sarah Palin here...
...Rhapsody streams music to my home music system, Sonos, which wirelessly connects to speakers throughout my house. By comparison, the free portion of MySpace Music streams tunes only to the computer at this point. So I'll keep subscribing to Rhapsody, but I'm guessing its days - in my household, anyway - are numbered...
...with Joanna, who goes steadily bonkers in the midst of preparations for the annual summer fete. Shuttling in and out of both plays are Teddy's precocious teenage daughter and her rather dim suitor; an alcoholic French actress on her way to the rehab clinic; a bizarre trio of household servants; another couple whose marriage is on the rocks; a children's maypole dance; and a driving rainstorm...
...West Pakistani troops, he heard whispered story after story of mass executions of Hindus, college students and anybody suspected of Bengali nationalism. Neighborhoods were gutted as Bangladesh's main cities fell to a fifth of their existing population; 10 million refugees fled west to India. Almost every Bangladeshi household has a tale of loss and suffering. Around 400,000 women, by some estimates, were raped...