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...Berlin's new Szene, newly renovated apartments rent for less than one quarter of what you'd pay in London. That's a big draw. But Berlin isn't just cheap. Some flock there because it is not yet set in brick, stone and concrete, but in the process of redefining itself. Guido Axmann came to Berlin from Oldenburg, near Bremen, and switched from being a doctor to running a consultancy on environmental issues. "[The city] has physical space, but also mental space. It allows you to develop," he says. (See a pictorial history of the Berlin Wall...
...razed to make way for the Wall and the death strips either side of it. West Berliners moved out into what had been leafy suburbs and the center of commercial life moved west. Now the city's focal point has shifted back east again, but it's an evolving process. There are still large areas of the eastern part of town that are filled with hideous communist-era concrete blocks, or just big holes waiting to be filled...
...meteor near miss. But the second and third points demand more explanation. The reason a big federal debt undermines the dollar is that a government with really big debts will be tempted to inflate its way out by printing money to pay creditors. Printing more dollars (the process actually involves the Federal Reserve's purchasing government securities with dollars it conjures out of thin air) reduces the value of existing dollars. And a government in truly dire fiscal straits - Germany in the 1920s is the most famous example - may print so much currency that it makes the stuff effectively worthless...
...future he envisions for the UC is one that underscores student voice. In his words, “That’s how the UC should be working when it’s working at its best—when it’s bringing students into the process and working on what students want to see fixed...
...subject of "rebalancing" will likely get top billing during U.S. President Barack Obama's November visit to China. President Hu Jintao and the rest of China's top leaders clearly agree with Washington that the country's consumers need to spend more. Pressure from Obama to speed that process along by, for example, continued improvements in China's social safety net, might be met with nods of approval. But Obama will only be able to press Beijing so hard. China's policymakers are still wedded to supporting the country's valuable export industries. Any suggestions from Obama that would result...