Word: systemic
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...billion in TARP money to bring down the tax burden, salvage troubled mortgages, and create a great series of public works projects. These programs are supposed to create over three million jobs as they build energy, education, IT, medical, and broadband infrastructure. Getting the capital for these into the system means running them through government agencies and into the private sector. Many of the projects will operate in regulated parts of the economy like the health care system, so they will be subject to a set of bureaucratic rules which may slow down their implementation...
...Because most of the money earmarked to come from the government into the financial and credit system will not arrive until the second half of the year, unemployment may well be over 9% before aid can support job creation. The retail industry is bleeding jobs. Circuit City has just liquidated, leaving 30,000 people out of work. Unless these newly and soon-to-be unemployed have special skills that will allow them to work in areas other than retail, the economy has no place to employ them...
...deferring of critical decisions about how to rescue the financial system, housing, rising unemployment, and consumer spending will be blamed on the months of transition between the election of a new president and his inauguration. The observation is fair but it is also pointless. If a runaway train is gaining speed at a dangerous rate, all that matters is whether someone pulls the brakes.The train will not have a bias about who that might...
...None of the tech is cleaner or higher than Masdar City itself, designed by the greenish British architect Norman Foster. Beyond being completely powered by renewables - mostly rooftop solar panels - Masdar will be a car-free city. Instead, the designers will build a personal-rapid-transit (PRT) system, an automated cable-car-like network that will whiz residents around the city's streets. Planners unveiled a model of a PRT car on the summit's first day. With the sleek silhouette of a racing motorcycle, but with room for four passengers, the PRT seems to have escaped from the movie...
...biggest parties in the center and the left of the political spectrum and has until now wielded sufficient power to pass laws in the lower house of parliament and then rubber stamp them in the upper house, which represents the 16 federal states. But after Hesse, that cozy system is history...