Word: net
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...fears that piling up debts and deficits to fight the collapse in output and jobs could destabilize the euro zone. It also reflects Europe's confidence that its economies are more resilient to the banking and housing collapses that have hit the U.S., while its stronger social safety net can soften the political impact of rising unemployment...
...important announcements were largely unnoticed. The first was that several measurements of unemployment worsened, approaching levels not seen since the early 1980's. Also obscured by the elation was the important disclosure that the average American household lost 18% of its net worth last year. Since that process has obviously continued in the first two months of this year, that number could be close to 25%. At its core, the information is a considerable warning that the ability of Americans to become consumers again is still severely compromised. It is another clear sign that the balance sheets of large financial...
...Others are not so sure. Gerald Curtis, professor of politics at Columbia University, who has studied and written about Japan for many years, recognizes that the DPJ wants to strengthen the safety net, but wonders if it has the determination to launch the sort of stimulus package that Barack Obama got through the U.S. Congress in a matter of weeks. Ozawa can come across as all politics, "his own Karl Rove," as Curtis puts it, rather than one who thinks through policies carefully...
...economic model on which it built both its postwar prosperity and social stability is broken. Japan's spectacularly successful export-oriented industries were responsible for creating the world's second largest economy, and their lifetime-employment policies, with generous benefits, obviated the need for a comprehensive social safety net of the sort familiar to Western Europeans. Then came the bubble. After financial markets were liberalized in the 1980s, Japan went on a debt-fueled binge that made modern Americans look as thrifty as Amish farmers. The stock market soared into the stratosphere, and property prices went so haywire that...
...control of fishing fleets which come under military supervision in a crisis," McCreary said on NightWatch on Wednesday. "Fishing boats are built to military standards, usually have weapons mounts or fittings for depth charges and have military-approved communications." Thankfully, this time at least, the Impeccable slipped through the net...