Word: short-term
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...different details. But no reference to my earlier rounds. When I asked, "Do you remember what we talked about 20 minutes ago?" he was all smiles and familiar reassurances. But when I asked for specifics, they were wrong. That was it. He was confabulating. And he had almost no short-term memory. I wouldn't stand a chance going up against the nursing-home proponents. It was a sad realization - in those few words, a little chat about things of no real consequence, this fine American of 75 years had lost his right to self-determination...
...Sarkozy and Italian Premier Silvio Berlusconi disagree, and wish the unified monetary authority would pursue less stringent policies. They would rather have the ECB lower interest rates and increase monetary supply to sustain growth, especially in the wake of the ongoing global financial crisis. Although these politicians worry about short-term political costs, the policies of the ECB are necessary for continued price stability and long-term growth...
...first, and especially if we contrast it with the short-term outlook of the Fed’s recent movements, this seems ridiculous. Why not allow looser standards, drop the two percent inflation goal, inject further liquidity, and appease both bankers worried about profits and politicians losing sleep over approval ratings...
...John Maynard Keynes once famously remarked, “In the long run, we are all dead.” And as with almost everything else he said, he was right. At these crossroads, however, Europe’s long-term and short-term goals are aligned: It should stick to its responsible monetary polices and avoid inflation in order to protect the purchasing power of most Europeans. Especially in the context of Fed moves, if the ECB gives in to irresponsible and demagogic politicians, Europe will eventually suffer not only from higher unemployment, but also from higher price levels...
...short run this is really a bad problem,” said Mun Ho, a fellow at the Institute for Quantitative Social Sciences. He reminded the audience that the benefits of reducing pollution far outweigh the costs. China’s air pollution track record has come under scrutiny recently in the months leading up to the 2008 Beijing Summer Olympics. The government has committed to cleaning the city’s air in time for the 2008 Summer Olympic Games, though the speakers said they felt such short-term solutions fall short of addressing the problem...