Word: unforeseen
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...field, physicists say, is left hoping to witness something unforeseen...
...just the end of the stimulus that makes 2011 a tough year to call. It will also be the year that all the Bush tax cuts expire. And Harris thinks that if a health-care overall gets passed, that could have significant unforeseen effects on the economy as well. S&P's chief economist, David Wyss, says he thinks most economists are tackling the tricky problem of predicting what will happen in 2011 by doing what they always do: predict the economy will do about average. The problem is that what economists have come to believe is average growth...
...Barring anything unforeseen, Bing will win re-election handily. Detroiters may not love him - "So he's a big multimillionaire," says Gregory. "He's moving to our city to help clean it up. Who asked you to do that?" - but there really are no other viable alternatives. "I've been successful in two careers, financially secure," says Bing. "Trying to help turn this city around was more important than having the good life." He adds, "Folks in government and the city had this entitlement attitude that says, 'It's always been this way. It's always going to be this...
...Revisionists also ignore the success of the 2001 and 2003 tax cuts: After their implementation, GDP grew uninterrupted for five years at an average rate of 4.1 percent, businesses created five million new jobs, and lower top marginal rates created incentives for unforeseen innovation. In fact, without the Bush tax cuts the economic downturn might have been harder on the poor. His plan increased the child tax credit and reduced rates for lower-middle-class families. The only substantive critique leveled by revisionists at the Bush tax cuts is that they widened budget deficits. But, if deficits caused the recession...
...typical insurance policy, the insurer must set aside some money, called collateral, that proves that it can make some payoff when needed. There was often little or no collateral required for CDSs. The obvious problem is that in an unforeseen catastrophe, the insurer may not be able to honor its commitment. Therefore, the CDS buyer must totally trust that the issuer is good for the money...