Word: overnights
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...triple whammy of collapsing property values, equity-wealth destruction and ongoing unemployment shock, the American consumer is unlikely to spring back overnight. In fact, with asset-dependent U.S. households remaining income-short, overly indebted and savings-deficient, subdued consumption growth is likely for years. This is because the U.S. consumption share of real GDP, which hit a record 72.4% in the first quarter of 2009, needs, at a minimum, to return to its pre-bubble norm of 67%. That spells a sharp downshift in real consumption growth from the nearly 4% average pace of 1995 to 2007 to around...
...recognizing that change cannot happen overnight. No single speech can eradicate years of mistrust, nor can I answer in the time that I have all the complex questions that brought us to this point. But I am convinced that in order to move forward, we must say openly the things we hold in our hearts, and that too often are said only behind closed doors. There must be a sustained effort to listen to each other; to learn from each other; to respect one another; and to seek common ground. As the Holy Koran tells us, "Be conscious...
When Treasury Secretary Timothy Geithner unveiled the details of his plan to save America's banks a little over two months ago, the markets raved, the country sighed with relief and Geithner went from punch line to potential hero overnight. Now the plan is in trouble, as parts of it struggle to get off the ground and others are dead in the water, Administration officials say. But oddly, that may be good for Geithner...
...Rise early from your luxury overnight accommodation at the Franschhoek boutique hotel - a historic, six-room retreat, tel: (27-21) 876 4723, and head east along the N2 highway, with Table Mountain at your back. Once you've negotiated passage over the forbidding Sir Lowry's Pass, you'll arrive in Hermanus. Brunch at the Bientang's Cave restaurant, tel: (27-28) 312 3454. It really is found in a cave and overlooks Africa's only whale sanctuary at Walker Bay. (See TIME's Global Adviser for exotic, beautiful and interesting getaways...
...privately owned Gondwana Game Reserve, tel: (27-44) 889 0287, home to Africa's legendary Big Five. Be sure to take a horseback safari or an evening game drive, which comes with hors d'oeuvres, sundowners and romantic views across the Outeniqua Mountains. Have dinner under the stars, then overnight at Gondwana's luxurious Fynbos Camp...