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There used to be a popular idea, up until a few days ago, that the world's economies had "decoupled." The United States, though worth 29% of the planet's GDP, no longer controlled the economic fate of everyone else, the thinking went, thanks to the rise of the global consumer, Europe selling to Asia, Asia selling to Asia. And so the increasing number of signs that the U.S. was headed toward recession - falling retail sales, weak jobs numbers, a cratering real estate market - were not really so worrisome. Even if growth in the U.S. lagged, everyone else would...
...field, in which each candidate has roughly the same momentum and factional strength (if not the same war chest), raises the distinct possibility that several candidates will split those delegates, postponing further the emergence of a front-runner. And that means the G.O.P. race could go on much longer than anyone imagined. It might even result in no candidate getting a majority of delegates when the primaries are over, a prospect that Republicans are starting to take very seriously...
...plans to convert into bonds the $50 billion Bank of England loan it used to prop up Northern Rock. That makes a private sale of the bank more likely: those interested in bidding before the February deadline - including a consortium led by Richard Branson's Virgin Group - will no longer need to front up for a big slice of that loan. The bank's battered shares climbed more than 40% on the news...
...Israel's three to four million parking spots, people will feel like they can charge their cars whenever they need to. Since most people seldom drive more than 100 miles at a time, wiring workplaces and public spaces like shopping malls should keep most cars juiced. For longer drives, customers will be able to pull into a battery-swap station and get a fresh battery. Better Place, and not individual drivers, owns the batteries, which should keep the price of the cars comparable to gas-powered vehicles...
...unrealistic to think the murder rate could ever fall to zero, could murders in the quadruple digits be something we no longer have to endure? "No one knows for sure why crime rates fell in New York and Chicago, and in the absence of a blue-ribbon commission of experts who can get to the bottom of this mystery, we are all left with just speculation, conflicting theories, and self-serving claims for credit by interested parties, including police departments and elected officials," said Andrew Karmen, a criminal expert at the John Jay College of Criminal Justice in New York...