Word: sinking
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...short-term money), trying to bring yields on both long- and short-term maturities down. Further, Fed chairman Ben Bernanke went out of his way recently not to object to the possibility of further fiscal stimulus from Congress. In other words, the Fed is throwing everything but the kitchen sink at avoiding a deflationary spiral, and it's doing so more quickly than its counterparts in Tokyo did a decade ago. Disinflation - diminishing inflationary pressure across the board - is healthy for the U.S. economy. Deflation is something the U.S. doesn't want to see. And the Fed knows that better...
...Such policies are unlikely to disappear immediately. "If anything, we will strengthen them, to improve education and encourage innovation," says Juhan Parts, Estonia's Minister of Economic Affairs and Communications. Whether he feels that way several months from now will depend on just how low Estonia and its neighbors sink. - With reporting by Adam Smith/London
...risk of selling harmful products. Not only could their businesses be destroyed, but they can face harsh criminal punishments. "This takes more time. There are still a lot of problems, but grudgingly progress is being made as different stakeholders are learning the hard way." If those lessons don't sink in, then expect a Chinese Product Safety Scandal...
...York City. "William Eggleston's Guide," it was called, as though he were taking you on a tour, but one prone to dwell on the sketchiest roadside attractions. In a photo by Eggleston there might be a sunbeam that sweetly anoints a full dish rack on a white sink. There might also be a dismal suburban tract house or a bunch of plastic bottles scattered across a dirt road. It was a make-of-it-what-you-will exhibition, and a lot of critics didn't know what to make of it. The Times critic called it "perfectly boring...
...nationalized oil wealth out to the gringos. Banner-bearing lawmakers opposed to the president's proposal camped with sleeping bags on the podium of Congress, shutting down the legislature for weeks, as the arguments went back and forth, for and against giving international oil giants the right to sink deep wells in Mexican territory and waters, long the sacrosanct monopoly of the country's national oil corporation...