Word: short-term
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Campus counseling centers are, as a result, more overburdened than ever before. Designed primarily for short-term care, many of the centers, understaffed to begin with, are then hobbled with more patients than they can accommodate in already-slim time slots. "You have maybe 10 to 15 minutes per student, and it's very frustrating," says Nancy Schulte, a social worker at Virginia's George Mason University. "You barely have time to ask basic questions." Many students are referred off campus for treatment, and the college's counselors may lack the time--or the right--to check on them...
...Some of OPEC's more economically strapped member countries, such as Iran and Venezuela, may be more inclined to press for higher prices, but Yamani fears such short-term thinking may be disastrous for the cartel by prompting new exploration and creating economic effects that once again shrink demand. But Sheik Yamani is no longer in charge of Saudi oil policy, and indications are that the cuts will go ahead. Which will leave all eyes on the global economic numbers - and Saddam Hussein's next move...
Among bonds, Treasury securities that mature in five to seven years offer the best combination of safety and potential total return. For cash, six-month bank CDs probably beat money funds, where interest payments will float lower as the Fed cuts short-term interest rates...
...house hunting you may finally get a break. As the economy slows, more homes will become available at attractive prices. And mortgage rates should decline as the Fed cuts short-term rates. But don't wait too long; mortgage rates will head higher as a recovery takes shape. With the job market expected to stay fairly strong, others will be bidding against you, so don't hold out for a screaming bargain...
...according to HSH Associates. That's down from 8.82% in May, and represents a saving of $241.49 a month on a $250,000 mortgage. The 30-year fixed rate is the best deal in town at the moment because long-term rates have come down sharply while short-term rates haven't moved much. That dynamic will change as the Fed starts cutting rates. But for now the average rate on a one-year adjustable is 7.02%, not much lower than a 30-year fixed-rate mortgage with which you'll never have to worry about yearly adjustments that could...