Word: hurtfulness
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...Senator Joe Lieberman and Representative Richard Gephardt stayed the course and voted yes. Gephardt didn't survive Iowa, and Lieberman didn't survive New Hampshire. Kerry and Edwards were able to blunt Dean's charge, and emerged as the ticket. But Kerry's flip-flop on the $87 billion hurt him in the general election...
What if a judge ruled he had to drive customers with alcohol or find another job? "It would hurt my beliefs," he says. "But there are rules in this country. If we want to impose our rules and our beliefs, we should stay where we came from. If the court finds that what we are doing is wrong, then it's wrong. I could get another job." That sounds both Islamic and realistic...
...Certainly, there's less nervousness in financial markets today about the risks of instability in one country spreading elsewhere, as the example of Thailand suggests. The country became the epicenter of the 1997 Asian financial crisis when its currency plunged and set off a chain reaction that hurt emerging markets from Russia to Vietnam. Nearly a decade later, Thailand last month risked triggering a similar meltdown when the country's central bank imposed capital controls in an attempt to curb a big appreciation of the national currency, the baht. Coming just three months after a military junta seized power...
Fairy tales can hurt you only if you believe them. That's why the widespread conviction right now that the "Goldilocks economy" will prevail in 2007 is so worrying. Stock markets around the world have been rallying strongly because key global economic fundamentals are said to be not too hot, not too cold, but just right. Growth is solid, inflation is relatively low, energy prices are easing, interest rates are benign, and consumer spending is holding up, most importantly in the U.S. The assumption that investors seem to be relying on to justify the high prices they are paying...
...hasn't hurt that Hong Kong stocks have been on a tear. The benchmark Hang Seng Index repeatedly set new all-time highs in the latter part of 2006, gaining 34% for the year. The rally got a big boost from an influx of investors hoping to cash in on the appreciating yuan by buying shares in mainland companies. The Hang Seng China Enterprises Index, which includes only China stocks, soared...