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...used to be that markets waited anxiously to see what the Federal Reserve would 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...
...Actually, there was a slight shift since the last Fed statement. At the end of April, the FOMC worried that "inflation could persist for a time below rates that best foster economic growth and price stability in the longer term." This time the wording was shortened to a simple prediction that "inflation will remain subdued for some time...
Maier added that “a serious type of long-term civil war” would most likely be necessary for a revolution to take place...
...even when they're necessary. It's also bad for the economy: health costs are bankrupting small businesses and even conglomerates like General Motors as well as millions of families. And it's awful for the country: Medicare is on track to go broke by 2017, and our long-term budget problems are primarily health-cost problems. At current growth rates, health spending by the Federal Government alone would increase from 5% to 20% of the economy by 2050; Social Security, by contrast, would increase only from...
...Islamic revolution of 1979 and retain today their evocative and emotional pull. "I emphatically asked IRIB not to broadcast my voice, because this is the voice of the dirt and dust and will always remain so," he said in an interview with the BBC, referring to the denigrating term "dirt and dust" with which Ahmadinejad has labeled the protesters...