Word: pumped
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OUTLOOK: The Bank of Japan will probably pump money into the economy to stimulate demand, and let the yen slump to boost exports. That threatens to destabilize other Asian currencies...
...Beaufort West in an area of scrubland that is South Africa's version of Arizona. That's where I was born, and now the house where I was born is a museum. Next door is the church where my father preached, my mother played the organ and I pumped the bellows for it. Maybe that's where, subconsciously, I started getting interested in the pump, which is all the heart is, after all. I can remember as a boy when they rang a big bell in Beaufort West at 9 o'clock, and all the colored people had to leave...
Gerry White of McCurdy Enterprises is preparing for that day and thinks it's not far off. He's planning to build a five-mile pipeline to carry water from Gisborne Lake to Newfoundland's southern coast, then pump it into tanker ships. White estimates it will cost less than a penny a gallon to get water from the lake to his potential buyers. Bulk water now sells for about 2[cents] per gal. in the U.S. At 66 million gal. a shipload, twice a week, that's a lot of pennies...
...that he wants to promote policies that encourage efficient deployment of domestic capital, to close what he sees as a gap between foreign producers and Thai consumers. To that end, his economic advisers have promoted a policy of higher interest rates, insisting (heretically, to Westerners used to Keynesian pump priming) that is the only way to grow the economy. "We have to create an incentive to save, for money to stay in the country, and to force banks to seek out investments with high returns," he says. "It's the only way to get capital back to work...
...Still, in the days before the verdict, he reflected often upon those years of bounced checks and the tiny, rickety Bangrak house with the frequently flooded downstairs that he had to manually pump out whenever it rained. Even if the court came back against him, even in the worst-case scenario of a ban from politics, he swore he would survive it as he had survived those years in the business wilderness. "The road to victory is never rosy," he says. "I think I've learned more from failure. I think it's hard to be a great...