Word: peake
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...sharply rising unemployment and falling economic output in the coming months as we work off the financial excesses of recent years. Higher productivity makes higher economic growth possible; it doesn't guarantee it. What's more, a financial breakdown can trump long-term fundamentals for years. Gordon identifies the peak years of the 20th century's big wave of productivity growth as 1928 to 1950. A lot of good that did anybody...
Still, the picture isn't one of unrelenting gloom. Interest rates are low, unlike in the early 1990s, and the price of oil has dropped from its peak earlier this summer as demand slows from the cooling global economy. That's good news for consumers everywhere. But the signs of economic woe still add up to a minefield that European governments, central banks and other policymakers will have to navigate carefully. Here are some of the mines that lie in wait for them...
...much as you might be tempted to sneak a peak at your brokerage statement at the end of a 936-point day, the best advice remains the same: ignore the tick-tock of the markets and focus on long-term investing goals. Last week, in the wake of nauseating stock-market losses, San Francisco-based financial planner David Yeske sent out a letter to clients suggesting they make the following promise: "Today, I will not watch CNN, MSNBC, Fox News or any other media source that thrives on bad news and reminds us of it 24/7. Today, I will...
...every reason to be scared because financial services have a record of retrenching fast in a crisis. And the business in some sectors has evaporated. The volume of mergers and acquisitions, for example, is down by about two-thirds from its peak in 2006, while the public stock offerings that made the London Stock Exchange a shooting international star have fizzled. Given the role played by arcane financial engineering in triggering the current crisis - the troubles at AIG, for example, stem largely from its freewheeling London financial-products division - the future looks especially bleak for people working in structured finance...
...learn about the financial aid options that sometimes make elite private colleges even cheaper than state schools. Ditto for Hamilton College in Clinton, N.Y., where a $700 million endowment and a budget designed ahead of time to accommodate a growing number of college students (this year marks the demographic peak) will allow the university to maintain its full financial aid program...