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...view, yields on U.S. 10-year Treasury notes will fall to between 1.5% and 2% by the end of 2009. This is because the banks are broken and their customers are keen to spend less. The monetary base, the money element that the Fed can control, is a fraction of credit outstanding in the U.S. system ($2 trillion versus $47 trillion). No matter how fast base money is pumped up, the reduction in credit outstanding will overwhelm it. During this phase we should expect credit contraction and its attendant deflationary effects on asset prices and consumer goods and services...

Author: /time Magazine | Title: Bet on Bonds | 2/11/2009 | See Source »

...because budgets often include staff salaries, which can’t be cut,” said Maria Tatar, who chairs the folklore and mythology committee. “The real percentage could be closer to upwards of 30 percent.” Department chairs have said that they view cutting salaries as the least desirable option on the table, since staff salaries are already low. —Staff writer Bonnie J. Kavoussi can be reached at kavoussi@fas.harvard.edu. —Staff writer Esther I. Yi can be reached at estheryi@fas.harvard.edu...

Author: By Bonnie J. Kavoussi and Esther I. Yi, CRIMSON STAFF WRITERSS | Title: FAS Refines Budget Cuts | 2/10/2009 | See Source »

...greatest President.” The panelists presented varying portraits of Lincoln while debating issues ranging from Lincoln’s true role in freeing the slaves to his sexual orientation. Kushner, who is currently working on a screenplay about Lincoln’s life, took a particularly sympathetic view of the famed president. “I think he is just a tremendously moving and intriguing and wonderful presence,” Kushner said. Blight, meanwhile, discussed the many comparisons drawn between Lincoln and current president Barack Obama. “It seems to me that...

Author: By Evan T. R. Rosenman, CRIMSON STAFF WRITER | Title: Scholars Debate Lincoln’s Legacy | 2/10/2009 | See Source »

...race to build a better e-reader is just getting started, of course, and Amazon's success is far from assured. Mountain View, California-based Plastic Logic, whose reading device is still a year away from launch, was set to announce a number of partner agreements today, including USA Today and the Financial Times. Though still in prototype, that e-reader is thinner than Kindle2, features a touchscreen the dimensions of a sheet of paper and can render virtually any typeface...

Author: /time Magazine | Title: Amazon's Kindle 2: Trying to Light a Bigger Fire | 2/9/2009 | See Source »

...Jillson said. Among the procession of parade-goers were many families eager to expose their children to Chinese culture. Kristen Sopko, a resident of Waltham Mass., came with her four-year-old daughter Katherine, who sat on her father’s shoulders to get a better view of the festivities. “We only read about it or saw it on TV,” Sopko said. “We want to get her used to different things.” This year marks the Kong’s 54th birthday. The family-run business is currently...

Author: By Lingbo Li, CRIMSON STAFF WRITER | Title: Kong Celebrates Year of Ox | 2/9/2009 | See Source »

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