Word: recentered
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...consumers start piling on debt again, we'll just have another, bigger credit crisis in a few years. But if they keep increasing their savings rate and reducing their debt loads, that's bad news for corporate profits, not just bank profits. Anybody who makes things that in recent years were bought on credit, from houses to washing machines to cars, is likely to be affected. So are stock prices. "Higher borrowing produces both higher profits and higher asset prices," writes London-based money manager George Cooper in his 2008 book The Origin of Financial Crises, "while falling levels...
Look, Ma, No Fees! Online booking agents Orbitz.com and CheapTickets.com say it will make permanent its recent no-fee policy on airline bookings. Now all flights can be booked fee-free, unless your travel involves a multicarrier itinerary or a flight that originates outside the U.S., Canada, Mexico or the Caribbean...
...That kind of frustration has only intensified in recent days as tensions on the peninsula have escalated. In late May, Pyongyang earned global condemnation by undertaking a second nuclear test, and now Kim Jong Il may be preparing another test of a long-range missile. Seoul's response to Pyongyang's actions has been unusually tough. After the nuclear test, South Korean President Lee Myung Bak agreed to join a U.S.-led effort to crack down on the proliferation of weapons of mass destruction. North Korea called Lee's decision tantamount to a declaration of war. "Many [South Koreans...
...Farage's call - echoing that of many Labour MPs in recent days - surely won't be the last; expect further dissent at a meeting this evening between Brown and Labour MPs. Despite the rumpus, though, there are reasons Brown - only two years into his premiership - could yet cling on. Rebel MPs have so far shown little sign of uniting around a single replacement for Brown. Even if they manage to, choosing a second successive unelected Prime Minister would make an immediate general election almost inevitable. - Adam Smith / London
...Prime Minister will no doubt fight back at the accusations with all the means at his disposal. But his most potent weapon may be his teeth. "Beware of anyone who doesn't smile!" he told voters at a recent campaign rally, flashing his trademark toothy grin. "Beware of anyone who takes themselves too seriously!" The show, my friends, must go on. - Jeff Israely