Word: short-term
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...what the community needs, then dispatch volunteers to do the legwork. Voluntourism supporters are quick to point out indirect benefits too. "Americans don't have the best reputation in the world right now," says Doug Cutchins, director of social commitment at Grinnell College and co-author of Volunteer Vacations: Short-Term Adventures That Will Benefit You and Others. "For Americans to get out and represent a different side of America ... I think that has a tremendously positive benefit...
...Interest rates are set in two main ways. Short-term rates--like those on credit cards, home-equity loans and adjustable-rate mortgages (ARMS)--are determined mostly by the Federal Reserve. It sets them with an eye on inflation. If the Fed fears that prices are rising too fast, it will raise rates to slow the economy. Longer-term rates, like those on a standard mortgage, are set on the open market. They are partly a bet on how well the Fed will control inflation but also reflect supply and demand. If there are lots of people with money...
...just wasn't much demand for money outside the U.S. There also wasn't much demand for that other crucial economic fuel--fuel. As a result, the long-term rates set by the market stayed low, and falling prices of oil and other commodities allowed the Fed to keep short-term rates down even as the U.S. economy boomed...
After the stock-market crash of 2001 and 2002, the Fed worried that inflation was so low it might turn into deflation. So it cut short-term rates even further, reducing them to 1% in 2003, while the yield on the 10-year Treasury bond--a key benchmark of long-term rates--dropped as low as 3.13%. The result: a real estate boom, as ultra-low mortgage rates made houses affordable at ever higher prices. Cash from refinancings and home-equity loans also kept consumer spending strong. By mid-2004, confident that deflation was out of the picture...
...Reman," as it's called in the trade, "is the rebirth of a product," says Nabil Nasr, a reman expert at the Rochester Institute of Technology in New York. It's not the same thing as repairing a broken part, which is often a short-term fix. In reman, once the disassembled bits are cleaned and reassembled, the result is as good as new. It's not a recent concept; Reman's roots go back around 100 years to the advent of the auto industry. And vehicle parts still comprise around 75% of the global market. But the industry...