Word: term
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...question is whether the region's gobs of easy money will actually go where it is supposed to go. It's all too easy for the state's largesse to end up in the pockets of politicians and other vested interests. The other issue is the long-term damage to economies from the sheer size of the deficit spending. The Chinese spending is equivalent to nearly 13% of GDP while that in Japan comes to 5%. Australia's fiscal stimulus equals 5% of GDP too, while Korea's is at 3.7%, Taiwan's at 3.4% and Thailand...
...long-term antidrug strategy doesn't need the sort of hysteria that has had some in Washington comparing Mexico to failing states like Pakistan. "Obama needs to throw a bucket of cold water on that kind of rhetoric," says Tony Payan, a Mexico expert at the University of Texas at El Paso. "He needs a Mexico approach for the next 20 years, not 20 days." Mexico is making some progress. Juárez saw violence spike last year when at least three cartels started a pitched battle for its valuable trafficking turf. (Most of the drugs from Mexico enter...
...short term, of course, legalization of marijuana - let alone any other drug - is not going to happen. That explains why Juárez is such an interesting laboratory. More industrious than the border Gomorrah of Tijuana to the west but grittier than the pin-striped boardrooms of Monterrey to the east, the city has long been a Mexican forerunner: it was the site of the Mexican Revolution's first military victory, the nation's first maquiladoras and the first opposition mayor during the PRI's long rule. Can it now take a lead in the drug wars by pioneering police reform...
...also characterized by a 15-year decline in the net interest margin, a core measure of bank profitability that is the difference between what banks pay to borrow and what they charge to lend. The net interest margin is partly a product of interest rates: banks borrow short term and lend long term, so when long-term interest rates drop below short-term rates (as happened three times in the past 15 years), margins are squeezed. But another big factor has been the rise of nonbank competitors. The barely regulated shadow-banking system of securitization, investment banks and hedge funds...
...loaded is the term that it can override logic itself. In an official statement last year, President George W. Bush declared that “as many as 1.5 million Armenians lost their lives in the final years of the Ottoman Empire, many of them victims of mass killings and forced deportations.” Ironically, many Turkish activists celebrated this description for its omission of the word “genocide,” despite its overwhelming castigation of the events in all other ways. Never mind Bush’s accusation that their forebears had executed a campaign...