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...says Credit Suisse's Desbarres. According to Citigroup, China's foreign reserves ($2.13 trillion as of June, including forward currency contracts) have increased 11.9% since the collapse of Lehman Brothers in September, 2008. Hong Kong's foreign reserves have shot up by nearly 40% over the same period. Economists point out that this new pile-up of dollars will do little to reerse a dangerous pattern of global savings and spending, wherein Asians control much of the world's cash and allow Americnas to recklessly spend...
House also quits his job. And the moment House leaves the room, Foreman (shocker) asks Cuddy to let him run the department. Cuddy asks him to take this case to see if he can handle the pressure. At that point, FlyBy was seething. But we also knew where the title of the episode came from...
When the Howard Hanson Dam was first built on the Green River in western Washington in 1962, the concrete behemoth was hailed as the new protector of the valley below. Until that point, the Green River Valley was regularly inundated during the flood season, which runs from late October through March. "We had an almost annual flood," recalls Governor Christine Gregoire, who grew up in the valley. "Only when I was in high school and they built the Howard Hanson Dam did we see an end to the flooding." Now, should the water rise to dangerous levels, engineers will...
...cold night in November 2008, the cheers of almost a quarter of a million people echoed around Grant Park, Chicago. For some, Barack Obama’s election heralded a turning point in America’s history, while for others the election of this 47-year-old man marked the ascendancy of Generation X. Looking back on that historic day, two things stand out: First, I have never seen so much passion and fervor surrounding an election. Second, despite this enthusiasm, voter turnout remained woefully low. In fact, only around a third of Americans actually voted Obama...
...some, the answer is clear. Australian Greens Party Senator Bob Brown has said that hosting Kadyrov's racehorses in the $4.95 million Melbourne Cup, could be "the lowest point of Australia's sporting history." Brown is running a campaign to ban the horses from entering the country. "He shouldn't be benefiting from our Spring Carnival. The prospect of his horses winning the Melbourne Cup is nauseating," Brown told TIME...