Word: planetful
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...houses in particular - never went down; only interest rates did. That era is over. It will be replaced by what will be one of the more painful, and consequential, economic chapters in our history: the great deleveraging of America. On Wall Street, the largest financial institutions on the planet are reducing their debt and trying to build up capital, which once upon a time was the seed corn of their business, and now must be again. Retail banks like Wachovia and investment banks like Morgan Stanley have been so burned by their own reckless use of debt that only recently...
...time outside the U.S., and I have to say that in many ways, like Bernard Kouchner, I think that the magic is gone. You want modern transportation systems? Try France or Japan. New airports? Half the cities of Asia. The old assumption that American culture would sweep the planet no longer holds good. In Africa and Asia, they don't cluster round TVs to watch baseball's World Series, but they do hang on every minute of every football game in the European Champions League...
...Pacific that has changed the environment. In 1945, Asia was typified by the rubble of war and the languidly racist torpor of colonial rule. Today, even making all appropriate allowances for a downturn in economies after the financial crisis, Asia remains the most dynamic part of the planet. Both India and China are growing at annual rates of more than 8%, and modernizing at a ferocious clip. China Mobile, the world's biggest mobile-phone company, adds more than 7 million new subscribers to its network every month. Companies like India's Tata and China's Lenovo - to say nothing...
...offense, then we're likely to see people in France and elsewhere file this away as a private matter," says Dominique Moïsi, senior adviser at the French Institute of International Relations. "From there he'll be judged on how he handles the most critical challenge facing the planet: reforming the world's gravely troubled finance system...
Jones says we can and we should. This isn't the time to abandon the green push - not just because carbon emissions continue to rise faster than ever or because scientists grow more concerned daily about the fate of the planet. Let's even put aside a politically fraught cap-and-trade program for the moment. A green stimulus package - a Green Deal, perhaps - could not only put the unemployed back to work in the middle of a harsh recession, but also lay the building blocks for a new, more sustainable American economy, one prepared to compete in a future...