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...safe. Indeed, people caught up in a bubble typically offer seemingly solid reasons as to why the bubble won't burst. In Tokyo in the early 1990s, it was said that property prices wouldn't crash because in mountainous Japan there was so little usable land relative to size of the population. That was, and remains, a topographical fact. It was also, eventually, irrelevant...
...Springtime sandstorms are common in China, as Siberian winds blow dust and sand off the Gobi desert across east Asia - sometimes as far as North America. But the size of the storm that began Saturday has surpassed what China's capital has seen recently. The storms began in desert areas of the Chinese region of Inner Mongolia and the adjacent central Asian nation of Mongolia, which is suffering from the combination of a dry summer followed by a brutally cold winter. The UN has set aside $3.7 million in aid to help Mongolia recover from the extreme conditions, which have...
...dozen employees and a vision to make wind power an easier sell. One of the big stumbling blocks in persuading utilities to buy wind is its unpredictability. The wind blows, and then it stops, while utilities' customers demand a constant flow of power. Xtreme's solution: a shipping-container-size power-management system that takes in energy from wind farms, stores it and then smoothly releases an uninterrupted supply of it out the other...
...course, young firms are also more likely to flame out and vaporize their jobs - but job destruction is, perhaps surprisingly, par for the course no matter what the size of a company. Even in the recession, about 4 million people a month have been landing jobs. We just don't feel the impact of that because more people have been losing them, leaving us with fewer employed people overall. That constant churn can be jarring for individual workers, but it represents one of the key strengths of the American economy: flexibility. That's certainly true for established companies...
...Easing the flow of credit, especially to small businesses, has also been a major policy push - and a tricky one to size up. The efficient reallocation of capital is key to any economy but especially to one like the U.S.'s, which counts on dynamism as a competitive advantage. Lending to businesses is down; that much is true. But is that because banks are overly cautious and asset-impaired or because businesses are uncertain about the future - or just aren't creditworthy borrowers? A recent survey by the National Federation of Independent Business found that companies that couldn't borrow...