Word: traded
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Dates: during 2000-2009
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...owner who has a vehicle that was made in 2005 with 80,000 miles on it can probably be made nearly new. It can certainly by rebuilt so that it is at the level that a "certified pre-owned" car is. Most of the auto dealers take low mileage trade-ins and, after a few modest repairs, sell them as nearly new. They even carry a warranty. A car dealer with skilled mechanics and parts from the original manufacturer can take a four- or five-year-old car and transform it into one that operates like a one-year...
Conventional wisdom says globalization is grinding to a halt. Supposedly, the recession means free trade is down, the worldwide gambit is over, and open markets lost: Protectionism is up, isolation is on the onset, interventionist states won, and we’re spiraling into a 1930s-style “save-yourself” vortex. In the past few weeks, two articles in the most popular globalization-advocacy journal—The Economist—have specifically bemoaned the coming tide of “global disintegration” and the specter of worldwide “economic nationalism...
...risks overseas, especially when things are good and risk looks tasty. Leverage must be capped. Some firms must be nationalized. Another good form, especially for developing countries, is job creation through investment in local infrastructure. Ineffective forms of nationalism include tariffs on the primary exports of developing countries, arbitrary trade disruption out of fear, and stricter immigration laws at a time when immigrants are hurting most...
...Although it’s true that many kinds of protectionism would at this point be detrimental, others might not be. Global trade is down substantially, and closing economies is not the answer for anyone, but some protectionist measures are necessary to sell international cooperation to people in developed countries (see the “Buy American” clause, which is no Smoot-Hawley tariff...
...country's No. 1 priority is to create jobs, then a hidden $1,300-per-family energy-tax increase in the guise of a cap-and-trade system is absolutely destructive. Herbert Hoover raised taxes in 1932, and it further crippled the economy. The war-on-wealth rhetoric (Obama talks about punishing companies that send jobs overseas; Vice President Joe Biden said he wanted to throw CEOs "in the brig"; Senator Claire McCaskill referred to CEOs as "idiots") and policies of this Administration and the Democratic Congress are making it difficult to stabilize the stock market and much harder...