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John Maynard Keynes famously warned that "the markets can remain irrational longer than you can remain solvent." Considering the recent volatility in stocks worldwide, irrationality appears to be the order of the day. Rarely have investors been so prone to bouts of panic selling, punctuated by spasms of equally frenzied buying. The Dow Jones Industrial Average index lost nearly a quarter of its value between Oct. 1 and Oct. 27, including an epic 700-point drop on Oct. 15. The carnage was followed on Oct. 28 by a 900-point rise, the second largest points gain on record...
Beyond seeking short-term bailouts, governments need to find ways to pay off their foreign debt - by increasing exports, reducing imports, or both. They also need to cut spending drastically: Hungary is looking at up to $1.4 billion in cuts in order to qualify for the IMF bailout...
...order to sustain this trend, Paleologos and the Film Office are trying to find ways to develop the workforce of below-the-line film employees that are not generally connected to a film before it starts shooting. The abundance of students studying film at Boston’s many colleges are a renewable resource of future film workers, and the Film Office has organized a “PA Bootcamp” in coordination with area schools...
...Hampshire is adopting a key recommendation of a blue-ribbon panel called the New Commission on Skills of the American Workforce. In 2006, the group issued a report called Tough Choices or Tough Times , a blueprint for how it believes the U.S. must dramatically overhaul education policies in order to maintain a globally competitive economy. "Forty years ago, the United States had the best educated workforce in the world," says William Brock, one of the commission's chairs and a former U.S. Secretary of Labor. "Now we're No. 10 and falling...
...moment that has been many years in the making. The far-reaching anti-pornography bill, according to the Islamic parties that drafted it, is an attempt to define and regulate pornography in order to protect women and children who, they say, are vulnerable an increasing immorality creeping into Indonesia. The bills' critics, however, primarily ethnic and religious minorities, claim its provisions are a first step towards imposing Sharia law. Widespread protests to a previous, more severe version of the law in 2006 forced legislators to amend it, but efforts to shelve it altogether were defeated...