Word: spend
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...leaders who pledged the $21.5 billion in 2005 obviously hadn't anticipated the global downturn that would force them to spend hundreds of billions on bailing out their own floundering economies. And the squeeze on the finances of G-8 countries is likely to worsen next year, as governments scramble to lower their deficits rather than risk inflation in the midst of rising unemployment. Overseas aid could then suffer even further cuts. "As governments look to cut deficits, they will look to cut all parts of their budgets, and these parts that are to help the poorest...
...before we hit that new normal. Rosenberg points out that during the Great Depression, the worst of GDP contraction and stock-market losses had hit by the early 1930s. And yet the malaise carried on for the rest of the decade. Unemployment hung above 15%, and people didn't spend money. "Even people who had the means didn't go on buying sprees. That's not how they lived," says Rosenberg. We may now be in for some of the same...
...Bongo set the paradigm for Africa in other ways too. What money he did spend on Gabon went on white-elephant prestige construction projects - a raft of new government buildings and a $2 billion transnational railway - which, when oil prices dipped, were funded by debt that spiraled out of control and threatened to bankrupt the country. And in politics, Bongo fixed elections for himself and bought off political opposition with money or power - despite its small size, Gabon has more than 40 Cabinet Ministers - or worse. Several opposition members were killed in the 1970s. In 1990, the mysterious death...
...frame and putting it on your college dorm wall. What I found out later is the gentleman was celebrating, he had just made a lot of money on stocks. And I thought that was great because, clearly, it's a god-awful amount of money to spend...
...been giving them things and now that they're not getting it, they're acting up," says Youn Bong Sug, 57. "If we give, they should know how to be grateful. The nature of those people is rotten." Some in Seoul have become annoyed that Pyongyang continued to spend money on its weapons programs even as South Korea donated large amounts of fertilizer and food to its much poorer Northern brethren. "What we're unhappy with is the fact that even if we send them aid, they don't use it for their people and instead spend everything on buying...