Word: pumping
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...HOUSE (SIMON & Schuster; 287 pages; $22), Stephen McCauley's third novel, a friend tells Clyde, the narrator, "No one cares about novels anymore. No one wants to wade through the obfuscations of fiction. Just pump out all the filthy facts, toss in a chapter on rehab and wrap...
...Greenspan last week made a pump-priming move: he led the board in reducing two key interest rates, the federal funds rate and the discount rate, by a quarter-point each. That prompted major banks to lower the prime lending rates granted to their best customers by the same amount, to 8 1/4%. The discreet adjustment, his third since July, also drew an ever so discreet statement from the Administration praising the cut while stressing respect for the Fed's independence...
...economies in an election year because governments will find short-term solutions to put off a downturn until after the election," says TIME's William McWhirter. "But this time the government might not be able to do this." Speculators are already counting on a dose of pump-priming. The Dow soared 76 points Tuesday on expectations that the Federal Reserve would lower interest rates in an attempt to jump-start the economy. (A decision is expected Wednesday.) "With consumer debt at an all-time high, people feel tapped out," notes McWhirter. "They aren't as optimistic, and they aren...
...something "drafted on the back of a menu . . . with the boys down at the yacht basin." But his own tax plan would cut inheritance and capital-gains taxes as well as income taxes for the wealthy. The legendary rationale for this kind of tax cut is that if you pump enough wealth uphill, sooner or later some of this money will trickle down to ordinary people in the form of decent-paying jobs. But this can't work when there are, as Buchanan himself says, "two economies" instead of one. Downsizing delights Wall Street, even when it means...
Right about now, several thousand undergraduates are experiencing the terrifying phenomenon known as writer's block. Having to pump out paper after paper during reading period inevitably leads to writer's block; there's just not that much to say after a while...