Word: sided
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...Whatever the risks of deflation, it is a natural enemy of the depression which sits just on the other side of a rapidly deepening global recession. Deflation could conceivably make economic matters worse by enticing businesses and consumers to delay purchases based on hopes that prices for goods and services will keep falling. But, there is a potential benefit to a sharp drop in the value of almost everything...
...nature, as were Courbet and Manet, nor a scientific observer of light and atmosphere, as were the impressionists. "I want more than half the story," he says. "There are some people who like my work because they see every blade of grass. They're seeing only one side of it. They don't see the tone. If you can combine realism and abstraction, you've got something terrific...
Pressure is mounting on Israel and Hamas to find a way to end the war in Gaza. Both sides have responded positively, if tentatively, to Egyptian proposals for a phased truce that would begin with a lull in fighting for a defined period (10 days, by some accounts). That interlude would then allow for the brokering of a more comprehensive cease-fire. But each side's goals from any truce remain antagonistic to the other's, and reaching an agreement that bridges the vast gap between them remains a herculean diplomatic challenge...
...smuggling weapons from Egypt. Israel remains committed, however, to a long-term goal of ending Hamas' control of Gaza, and it insists that the movement should gain no "recognition" or "legitimacy" as part of any truce - a tough call since Hamas is the key combatant on the Palestinian side. (See pictures of the Gaza ground...
...will be tempting for Obama to let Congress and the states fill the gaps with their own wish lists. But as Obama adviser Larry Summers has warned, a poorly designed stimulus "can have worse side effects than the disease that is to be cured." Handouts for clean coal, ethanol and other misguided energy technologies would be worse than inaction. With apologies to Keynes, incentives to "build houses and the like" could help inflate the same bubble that burst last year. And infrastructure spending has been one area where Congress has consistently exhibited an impressive bipartisan determination to do the wrong...