Word: stash
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Dates: during 2000-2009
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...decide about short-term interest rates. These days that's a given: rates are stuck between 0% and 0.25% for the foreseeable future. Instead, the only real news one can hope for out of a Federal Open Market Committee (FOMC) meeting has to do with the $1 trillion-plus stash of mortgages and other debt securities that the Fed has built up during the past two years of financial turmoil. Is it going to step up its purchases (meaning it's still worried about economic collapse) or start winding them down (meaning it's starting to worry about inflation...
...classified documents from the National Archives shortly before he was scheduled to testify before the 9/11 Commission. Berger initially denied taking the documents, which concerned the Clinton administration's response to a 2000 terrorist plot, but eventually pleaded guilty. (Berger did not, as popular mythology would have it, stash the files in his pants or socks on his way out of the library - he used his suit jacket.) Though Berger was disbarred and relieved of his security clearance for three years, he later served as foreign policy adviser to Hillary Clinton during her run for president...
...opposed to paying cash. Credit-card spending just doesn't feel like real money. In another study, Nicholas Souleles of the University of Pennsylvania and David Gross of the consultancy Compass Lexecon calculated that the typical consumer unnecessarily spends $200 a year in interest payments by keeping a sizable stash of cash in savings or checking while at the same time carrying a credit-card balance. In our heads, the two don't line...
...governments, that's real cause for concern. It might not show up in the national accounts, but trust is vital for an economy to work. When we stash wages or savings with banks, we trust they'll be safe and accessible when we need them. When we squirrel money into a pension, we trust it'll pay back when we retire. In a paper published in 2006, academics from Italy, the Netherlands and Canada even found that trust levels between citizens of two countries has a significant effect on the investment decisions of venture capital firms, even after accounting...
...hope your April Fool's went well. FlyBy, of course, was not fooled by anyone--many attempted, none succeeded (we will confirm our enviable stash of GOLD, but refrain from discussing how it's put to use). For all of you, we present (to those who haven't seen it), the famed College Humor Prank War, which finally updated recently with a new prank. How else to keep your brain alive in tonight's VOID? Share your April Fool's story in the comments! Help out a fellow VOIDer...you could be the difference between someone powering through or leaving...