Word: reasonable
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...That's quite some claim. Currently at its strongest against the dollar and euro since last fall, the krone is set for a "sustained appreciation" over the next year and a half, according to HSBC. The main reason: Norway's budget and current-account surpluses are the biggest among nations with the 10 most traded currencies. Factor in the country's $350 billion sovereign wealth fund pumped full of the country's oil revenues, and the cost of insuring against government default in Norway - a key measure of a currency's safety - is the lowest of those countries. With Norway...
...percent or two too low for deficits to go up by hundreds of billions if not trillions of dollars over the next decade. Not a single page in the Administration or CBO documents describes how that might happen or what the financial results will be. Perhaps the reason is that no one wants to put in writing the possibility that the recession, compounded by inappropriate actions to correct it, could lead to financial mayhem...
...Department's decision to release $5 billion in federal loans to automotive suppliers suggests that the Obama Administration is likely to approve billions in loans for GM and Chrysler. The Administration's automotive task force appears to have ruled out forcing GM and Chrysler into bankruptcy. That's one reason GM has pushed back the date of the company's annual meeting unit to August from June. Once it gets final approval of $21.6 billion in new federal loans, the company can have a future to talk about. GM isn't planning anything fancy for the meeting - it will...
QUEENS, N.Y.—For one half, it seemed like the Crimson’s season might have been extended for a reason...
...That's the reason the Obama Administration is considering doubling the size of Afghanistan's military and national police forces, to roughly 400,000. That's more than triple what U.S. officials had estimated would be needed to defend the country shortly after the U.S. invaded in late 2001. But the beefed up force is needed to battle surging enemies led by the Taliban - scattered by the U.S. in 2001, but who have since returned with a vengeance - and al-Qaeda. The current Afghan military comprises about 90,000 troops, slated to rise to 134,000, while there...