Word: pathe
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...unilateral withdrawal of the demand for goods resulting from a significant rise in our savings rate, unaccompanied by a proportional increase in consumption outside the U.S., would put us on a path to pain again. As my good friend Paul McCulley, the endlessly creative monetary guru at PIMCO, has said, the rest of the world needs to shed the hair shirt of denial and embrace hedonism...
...Washington, the reaction was just as defiant. The Administration called anything less than total withdrawal an unacceptable "half-measure." Said a senior U.S. official: "This is gathering momentum, but it doesn't have an easy path...
...father in handling hard-liners who oppose compromise with the Lebanese or Israelis, much less the Americans. Asks Dennis Ross, the retired Middle East envoy for the past two Presidents: "Will he use the moment to sweep away the Old Guard and put Syria on a new path? Or will the Old Guard move against...
...speech. Chidambaram: Sen argues that it's growth that expands freedom. There is a belief among some sections that even with low growth, you can achieve your social objectives. I don't share that view. Growth is paramount. As long as I keep India on a 7%-plus growth path, as long as we keep inflation within limits and do not slow down our efforts to open up India's economy, reduction of poverty will follow...
...inefficient manufacturers, and does little for the poor themselves. Higher spending means the government will likely miss its deficit-reduction targets for next year. Yet Chidambaram insists that he remains on track to contain India's deficit. "I have made a solemn commitment that we will resume on the path of fiscal correction in 2006-7," he told TIME...