Word: spent
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...world," while comparing a debt-burdened America to the failed British Empire. Daley lambasted American economic policy as ill conceived and out of touch. Rogers warned his listeners against a declining U.S. dollar; Daley said the U.S. consumer, who has been the world's most important, was spent as an economic force. The severity of the criticism became so uncomfortable that one Chinese audience member took hold of a microphone and said: "You don't have to say bad things about the United States...
...linkage between Asian growth and the American consumer bears special mention. The U.S. consumer is still the dominant consumer in the global economy. Although America accounts for only about 4.5% of the world's population, its consumers spent about $10 trillion in 2008. By contrast, although China and India collectively account for nearly 40% of the world's population, their combined consumption was only about $2.5 trillion in 2008. During the boom, China and the rest of Asia reaped enormous benefits from a mercantilist growth model that was tied increasingly to the voracious appetite of the American consumer. Unfortunately, Asia...
...maybe it's the system that needs to be overhauled, which brings us back to young John Eriksen's original point. Leaders have to divorce themselves from the church's old practices. "One of the big dirty phrases in Catholic education is 'It's a business,' " says Eriksen, who spent several years as a consultant for Catholic schools before becoming superintendent. "But at the end of the day, we are private-education providers. We charge tuition and offer a service in return, and a school run effectively is able to educate more people...
...What surprised you about the communities you spent time in? I was caught off-guard by the level of hostility to immigration reform in many of these communities and by how concerned many are by taxes - they believe taxes are too high. But I was also caught off-guard by how pleasant an experience it turned out to be, the personable warmth that greeted me in many cases...
...later visit could allow Obama to bring his daughters and possibly his half-sister Maya Soetoro-Ng, who spent many years in Indonesia with their mother, Ann Dunham. Dennis Korompis met with Maya in Washington D.C. in September and said she was interested in creating a foundation that will help send Indonesian kids to school in the U.S. "She wants to come next summer to visit schools in remote areas that need help," says Korompis. "If they come next year they can stay longer." And though there has been some disappointment, Indonesians agree that the relationship is a special...