Word: reich
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...untold billions annually. Union advocates argue that the bill is not just good for unions but a boost for the economy as well. "If it becomes easier for working people to form unions and get more bargaining power and therefore higher wages, the economy will be helped," said Robert Reich, a former labor secretary under President Clinton and an adviser to Obama on labor during the campaign. "EFCA will be good for the economy because it will improve bargaining and put more money in the pockets of workers...
...later, after the Labor Department announced that U.S. employers shed 533,000 jobs in November and 1.2 million since August, some were agitating to ditch the R word and replace it with the more ominous D one. "Shall we call it a depression now?" asked former Labor Secretary Robert Reich. "The threat of a widespread depression is now real and present," argued the University of Maryland's Peter Morici...
...what to make of such portentous statements, given that there is no agreed-upon dividing line between recessions and depressions, and no descriptive word in between. "It's a recession when your neighbor loses his job," Harry Truman once quipped. "It's a depression when you lose yours." What Reich and Morici seemed to be groping for - other than media exposure (mission accomplished!) - was a way to express that the current downturn may be a more serious phenomenon than other recessions of the post-World War II era. (See pictures of the recession...
Intuitively, this Swedish model seems like a plausible enough scenario for the U.S. today - what Reich calls a "Mini Depression," or what one commenter on my TIME.com blog has dubbed the "Great Recession...
...Beyond his journalistic facility, Cooke seemed to have a diviner's rod that led him toward powerful men and big stories. In 1931, on vacation in Munich, he stumbled onto a street speech by a local spellbinder: Adolf Hitler, two years before the Third Reich came to power. In 1936 Cooke wandered into an alley during Harvard's tricentennial celebration and saw two Secret Service men lean into a limo and lift out the polio-stricken "Franklin Roosevelt, inert as a sack of potatoes." In 1968 he was at the Ambassador Hotel when Robert Kennedy was shot, and filed...