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...stimulus package nearly two weeks ago, and in Beijing last weekend, government policymakers acknowledged that more is probably coming. In the U.S., another economic-stimulus plan seems inevitable; the Federal Reserve, meanwhile, is probably headed toward what in 1990s Japan became known as the ZIRP: zero-interest-rate policy. The Fed funds rate is already down to 1%, and the economy is still sinking. Rates have nowhere to go but down - all the way to zero. And by the time President-elect Barack Obama takes office in January, it's likely the U.S. will be debating what sort...
...three weeks in advance of events, and when Houses have different policies and procedures for using their dining halls, it becomes difficult to find a space within the required time frame. In addition, the upfront costs for throwing dining hall parties have grown over the past year. The hourly rate for Harvard University Police Department detail has increased from $46.50 to $70.55 over the past year. Lowell, Pforzheimer, Mather, and Adams Houses have also employed surcharges for dining hall rental and sometimes clean-up. Since student groups and House Committees (HoCos) are the driving force behind much on-campus social...
...felony charge is not issued until the fifth conviction of drunk driving. The results are evident: In 2007, 41.4 percent of motor-vehicle fatalities in the state were related to alcohol, the third-highest of any state in the country and significantly higher than the national rate of 31.7 percent. Drunk-driving penalties in Wisconsin and elsewhere should be significantly more severe, and AWARE is right to draw attention to the problem.But, frankly, the coalition’s other goal of decreasing underage drinking misdiagnoses the problem. The group correctly notes that underage drinking as currently practiced is a major...
...Slowing consumer demand in America and Europe has cut output at Chinese factories - although China's exports grew at an annual rate of 19% in October, some economists believe that could fall below 10% by the end of the year because of lower Christmas-season orders for products like electronics. And China's notoriously thrifty consumers haven't made up for the drop in foreign demand. Amid the global turmoil, their expectations for rising incomes are at the lowest level recorded in years. All of that threatens to turn Dongxiaokou from the epicenter of a bustling recycling economy into...
...government has done what it can to try to boost growth. The Hong Kong Monetary Authority has sliced its benchmark interest rate to 1.5%, from 6% a year ago. But economists still expect next year to be worse. Goldman Sachs predicts GDP will grow only 2.2% in 2009. In the meantime, Hong Kong's glum populous can at least take comfort in the efforts of one of the city's more esoteric groups. In mid-November, several members collected in Causeway Bay, a popular shopping and restaurant district, to offer people "free" hugs. More such sessions are planned in coming...