Word: thingness
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What do you miss about growing up and living in the Midwest? -Julie Jones, Iowa City, Iowa The biggest thing I miss in Iowa is my mom. She still lives there, and I don't get to see her as often as I'd like. I miss the certain smell in Iowa when it's about to rain. I miss how quiet it is. I miss having neighbors that I know and that I like. The thing I probably miss most of all is that people in Iowa have a different, genuine quality and a self-sufficient humility, a desire...
TIME: How will the U.S. recovery play out? Biggs: The surprise is going to be how strongly the U.S. - and the world for that matter - emerges from this thing over the next six to nine months. History says the steeper the decline, the steeper the recovery, and I think we'll see that play out. In addition, we've had unprecedented amounts of stimulus, both fiscal and monetary, as well as coordination by governments and central banks around the world. I think we are going to have a very steep recovery that is going to last for another...
...then? As the stimulus wears off, I expect that we will flatten out in the big developed economies - not have a double dip as the economic bears would argue, but just flatten out. The thing that is different this time is that the developing countries are coming out of this thing very strongly and their own domestic demand is going to sustain them. So they are going to be an important driving force for the global economy. It's worth noting that developing economies are now 35% of the global economy. They are going to be a new factor...
...every situation, there has been a huge rally followed by a long period of churning back and forth in a big, broad trading range, anywhere from three to - in the case of Japan - 18 to 20 years. As for the rally, the usual rebound rally after one of these things is 71% over 17 months. The current rally in the U.S. and Europe has been about 42% over the last five months. We've gone up faster than most rebounds, but not as far. After the rally is over, I can imagine a trading range...
...named Fred Hoyle came up with it during a popular science radio broadcast and he was essentially putting the theory down. He was really almost laughing at the idea. Take the concept of a black hole - this thing that nothing can get out of. Even if that idea doesn't quite fit with reality, the concept itself takes on a life...