Word: york
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...spent her life - all 93 years - mastering the intricacies of the monetary system and banking world. She's worked as an economist with the National Bureau of Economic Research since 1941 and now serves as an adjunct professor at the Graduate Center of the City University of New York. She recently spoke with TIME contributing editor Janet Morrissey. (See pictures of the stock-market crash...
...effects of rapamycin, which was discovered in Easter Island soil samples about 40 years ago, after noting that the compound appeared to affect cell growth in lab animals in much the same way as calorie-restricted diets, which also appear to extend life. (Watch TIME's video "Mapping New York City's Rats...
...course, the union's other 49 states have quirky liquor laws of their own. In Pennsylvania and Idaho, for example, spirits can only be sold in stores controlled by "Alcoholic Beverage Control" agencies, colloquially known as ABC stores or Aunt Betty's Cupboard. In New York, liquor stores cannot be jointly owned, and the sole proprietor is required to live within a certain distance of his or her establishment - a stipulation that effectively bans chains. In Kansas, a state that outlawed alcohol sales until 1948 - a full 15 years after Congress repealed Prohibition - 29 counties still don't allow...
...then there are the long-term obligations - those big, hulking costs that, much as society may value them, eventually weigh on states' financial health. In New York, unfunded state pension liabilities average $2,633 per person. Massachusetts' tab is even larger, at $3,372 per capita, although that's nothing compared to New Jersey's $9,833. By comparison, California seems in something of a sweet spot, at $1,325. Still, that's hefty compared to Florida...
...Looking long-term, places like New York and Massachusetts could have some pressure, even though they are relatively highly rated and have passed budgets for this year," says John Miller, chief investment officer of Nuveen Asset Management, which runs, among other things, municipal-bond funds. "Those are areas where obligations are probably growing faster than their revenues." That spend-now-pay-later attitude eventually catches up with a state. Ask California. (Read "Can the U.S. Afford to Let California Fail...