Word: turmoil
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Many in Europe know just what to do with this peace and prosperity: lie back and enjoy it. As Gideon Rachman argued in a provocative column in the Financial Times in May, Europe has become a "giant Switzerland." Its people do not consider themselves threatened by the turmoil in the world around it, and see little point in going out looking for dragons to slay. Barack Obama may be Europe's darling, but he will find that his suitor's ardor cools pretty quickly the moment he asks European parents to volunteer their sons and daughters to beef up NATO...
...Washington Running on Empty Stomachs Even before 2008's economic turmoil, more American children had been going hungry in 2007 than at any other time in the past 10 years. A new Department of Agriculture report says money woes caused 323,000 households to cut back on food for children in 2007, up from 221,000 in 2006. Federal officials expect this year's data to paint an even worse picture...
...Hendrix and bass player Noel Redding (who died in 2003). In 1967, the three put out their first album, Are You Experienced? Driven by Jimi's incendiary guitar-playing and a heady mix of blues and psychedelic rock 'n' roll, the band soon skyrocketed to fame. But turmoil brought on by unending touring and drug binges unraveled the trio after just three years...
TIME: How is Ikea faring amid the current economic turmoil? DAHLVIG: This is a really good time for us. The way we've set up our business, we're planning for a climate like this all the time. We have a very conservative policy when it comes to borrowing money. We basically only use our retained earnings and don't borrow very much. We also have a very conservative policy when it comes to how we place our cash and our liquidity. We don't place anything in equities, so we haven't lost a dime...
...triumphed in the country's 2007 election on a platform of reform aimed at returning South Korea to rapid growth. Not only did the economic crisis make his campaign promises sound hollow, the President and his policy team came under heavy criticism for reacting too slowly to stem the turmoil. "The problem has become deeper than necessary," says Charles Chang, managing partner of Seoul-based boutique investment-banking firm Accolade. "It is the failure of the government." Chang believes policymakers did a poor job of building confidence among foreign investors to calm markets...