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...know more or less that the only policy response available to them is to flood their economies with money. China announced a big stimulus package nearly two weeks ago, and in Beijing last weekend, government policymakers acknowledged that more is probably coming. In the U.S., another economic-stimulus plan seems inevitable; the Federal Reserve, meanwhile, is probably headed toward what in 1990s Japan became known as the ZIRP: zero-interest-rate policy. The Fed funds rate is already down to 1%, and the economy is still sinking. Rates have nowhere to go but down - all the way to zero...

Author: /time Magazine | Title: The Global Economy's Big Fear Becomes Real: Deflation | 11/21/2008 | See Source »

...Orleans house smeared with the word “Baghdad.” The author of that graffiti, he said, “understood that the same logic of criminal neglect that gave us New Orleans gave us the Iraq war.” Though Chan does not plan to put on more theatrical productions in the future, working on “Godot” has made it difficult to return to visual art. “It is hard to recover from it,” he said. Still, he doesn’t want to dwell...

Author: By Madeleine M. Schwartz, CONTRIBUTING WRITER | Title: Paul Chan Deals with Difficult Subjects and ‘Three Easy Pieces’ | 11/21/2008 | See Source »

...sizable reduction from the current level, which is 385 parts ppm.Titled simply “350,” the project aims to influence policy-makers at an international climate conference in Copenhagen next December to adopt that standard as the global benchmark.“Our plan for this year is to communicate this number everywhere around the world,” McKibben said Wednesday. “We picked a number because it is simple...It travels easily across linguistic boundaries and holds politicians to one thing.”Various groups have pledged their support already, McKibben...

Author: By Natasha S. Whitney, CRIMSON STAFF WRITER | Title: Activist Pushes Caps on Carbon | 11/21/2008 | See Source »

...trip to his native country of Sierra Leone to hand out the computers to children there. “Illiteracy in Sierra Leone is 70 percent,” said Sengeh. “If we want to keep in line with Nicholas’s 20-year education plan, we need to start reducing the 70 percent.” His plan may be ambitious, Negroponte said, but he remains optimistic. “The 20-year plan is world peace. The 15-year plan is to eliminate poverty,” he said...

Author: By Niha S Jain, CONTRIBUTING WRITER | Title: Cheap Laptops, Rich Experience | 11/21/2008 | See Source »

...After a week in which they were berated for their incompetence, the automakers reacted to the proposal with cautious optimism. "We appreciate the Congress's recognition of the auto industry's vital contribution to the nation's economic strength and national security. We intend to deliver a plan to Congress that shows them a viable General Motors," said GM spokesman Greg Martin. "We agree completely that there must be accountability to U.S. taxpayers for government support that enables automakers to continue their restructuring and to ensure a stronger, more competitive auto industry." For its part, Ford, which is the strongest...

Author: /time Magazine | Title: Congress Sends Detroit Execs Back — With Homework | 11/20/2008 | See Source »

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