Word: impaction
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...What economists are struggling to predict is how extensive the impact of this housing slowdown will be. Many other real estate markets around the globe rose in tandem with the U.S. in recent years, but so far none have come back down to earth with the same force. Perhaps most surprisingly, American consumers are continuing to spend, regardless: automobile purchases are sluggish, but monthly retail sales rose by a higher-than-forecast 0.9% from November to December. "I'm not prepared to bet against the American consumer. That's a highly dangerous proposition," says Jesper Koll, chief Japan economist...
...Part of the reason the impact is so great is that the freeze hit with 70% of California's citrus still hanging on the tree. Unlike many other fruits, such as cherries, oranges aren't picked until they are ready to be sold. Some 12,000 fruit pickers and packers will now lose months of work, as a harvest meant to last until June will now probably end in March, after the remaining fruit is picked...
...doubled to around $25 a carton, and consumers will start seeing the increase in supermarkets soon. Retailers can get some fruit elsewhere - lemons from Texas, clementines from Spain - but since most of the fresh citrus consumed in the U.S. comes from California (partly because of limits on imports), the impact of the freeze is practically unavoidable. Florida produces more citrus overall, but almost all of its oranges go into juice. "In terms of [fresh] oranges, there really isn't anywhere else to go," says Daniel Sumner, an agricultural economist at the University of California, Davis. "The few oranges left will...
...drug-dealing relationship on a top floor of the dorm to have an impact on our children is just nearly impossible,” she says. What’s more, Amon adds, law enforcement never informed her that three DeWolfe residents were dealt the extra penalty for her pre-school's first-floor location, an omission she said surprised...
There are some glimmers that such criticism is having an impact in Beijing. The Chinese, says Joshua Kurlantzick of the China Program at the Carnegie Endowment for International Peace, "are beginning to understand that some of their policies in Africa are turning people off" and have quietly turned to the U.S. and Britain for help in devising foreign-aid policies. A former senior U.S. official says Chinese officials have been closely monitoring the growing international distaste over its support for the Sudanese government. Congressman Lantos says younger Chinese diplomats "are embarrassed that the Chinese government is prepared...