Word: rates
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...exist simultaneously on the subcontinent. And while those on the outside have been transfixed by its galloping economic growth for some time, the emerging global giant is full of paradoxes. It is the world's go-to destination for talent, yet has the world's highest high school dropout rate. Despite its robust economic growth, India is wracked by seemingly irreversible poverty. Capitalism is still, for all intents and purposes, a nasty word, corruption is ubiquitous and the relatively young democracy is saddled with inexperienced leaders. (See pictures of Saavn: Bollywood gets digital...
...There's little doubt the coin is in good shape. A series of interest rate cuts in recent months "are starting to work in a way they aren't in other economies," says Dale Thomas, head of currency management at London's Insight Investment Management. That makes it unlikely Norway's central bank will need to revert to quantitative easing, the modern-day equivalent of printing money that's currently in fashion from the U.S. to the U.K. (See pictures of the printing of money...
...Gregg's contribution to the debate about the federal budget is a statement he made on CNN's State of the Union talk show. He observed that if Congress approves the budget as it has been proposed by the Administration and deficits consequently move up at the rate that the Congressional Budget Office has projected in its analysis of the budget, the nation will become bankrupt and people would stop buying American debt. (See the 25 people to blame for the financial crisis...
...According to the Congressional bean counters, the economy is likely to grow at a slower rate than Obama had projected when the budget was drafted, and than several other economic forecasts anticipate. Under the Administration's plans, that means an explosion in government debt after the current recession ends, with sustained deficits even larger than the ones caused in the 1980s by the policies of Ronald Reagan. The national debt, the CBO calculated, would go from 41% of the size of the nation's economic output in 2008 to 82% of the economic output in 2019. In other words...
...Would Have Liked It. While we're talking Texas, the swanky Joule Hotel in Dallas has a special weekend rate good for those who want to take advantage of the rooftop pool, or dance off the winter blues at the hotel's new nightclub, PM. Stay a Friday and Saturday for just $169 per night. Book by March 31 for stays through Sept. 7. 1530 Main Street, Dallas...