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June
19
Tis the season to be selfish. Right after the global financial crisis exploded in 2008, many economists fretted that countries looking to hold on to their share of a shrinking pie would become more self-interested and protectionist, plunging the planet into an even sharper downturn, just as happened in the 1930s after the Great Depression. Thanks to panic-fueled crisis management by policymakers, it didn't happen. But after three years of pain and very little economic gain, it may be happening ...
June
9
Double dip is not a term that a government keen to extricate itself from the economic-crisis-management business likes to hear. A couple of weeks ago, the Obama Administration was poised to switch to growth mode. Then the ugly data started pouring in like the overflowing Mississippi. First-quarter GDP numbers showed a measly 1.8% increase, well short of the expectations of above 3%, and second-quarter estimates are not much better. Then came a report on housing-price declines that ...
June
7
With a demure smile and a garland of jasmine, Thailand has always welcomed the world. China and Japan may have screened themselves off for centuries, but the ancient kingdom of Siam, as Thailand was once known, thrived on trade and tourism. Even today, the country depends on visitors lured by golden spires and white-sand beaches.
But on Nov. 25, Thailand abandoned its traditional hospitality when antigovernment agitators swarmed Bangkok's international airport, grounding one of Asia's busiest air hubs. ...
May
19
The good news is that the American economy is back to its precrisis size. The U.S. GDP is now about $13.5 trillion, a bit above what it was in 2007, before the financial crisis. The bad news is that we are producing the same amount of goods and services as in 2007 with 7 million fewer workers. The number of Americans who are unemployed has roughly doubled, and though that number is declining, it is doing so ...
May
13
The reporter intended the anecdote that opened part four of the Boston Globe's profile of Mitt Romney to illustrate, as the story said, "emotion-free crisis management": Father deals with minor but gross incident during a 1983 family vacation, and saves the day. But the details of the event are more than unseemly they may, in fact, be illegal.
The incident: dog excrement found on the roof and windows of the Romney station wagon. How it ...
May
13
Correction Appended: May 29, 2010
Three years ago, James Lansberry faced the kind of health care crisis that has become all too common in the U.S. Less than two weeks after his wife Theresa gave birth to their sixth child, she had to rush back to the hospital to have her appendix removed before it burst. Her medical bills eventually totaled more than $23,000. It would have been a stressful time for any family but especially for those who, like ...
May
7
General Motors Corp. may no longer be the world's biggest automaker, but it still operates the country's largest pension fund. The threat to its pension plans has always been an issue, butit took on a new urgency when GM disclosed April 7 that its plans were underfunded by more than $27 billion, with more than half of that being owed to U.S. workers and retirees. Across town, a post- bankrupt Chrysler faces its own pension shortfall. ...
April
27
It's not quite World War III, but tension over Greece's debt crisis has ignited a battle of words between Athens and Berlin, reopening old wounds and raising the specter of Nazism. As Greece struggles to avoid default, and Germans debate whether to bail out their spendthrift neighbor, the question of what, if anything, Germany owes Greece for the past has become a topic of bitter debate and angry mutterings in the southern European nation. The row began ...
April
26
What does a female midlife crisis look like, anyway? A big face-lift, a little red car, an overdose, an affair, an escape to the Galpagos Islands? Or none of the above? It is both a stable truth and an unsettling one that our lives loop and twist from age to age. The baby toddles into childhood, the child erupts into a teen, then a woman, who by the time she has passed 40 is long overdue to shed her skin ...
April
16
It's getting tougher these days to think of the glass as half full rather than half empty, but if you're going to survive this economic crisis literally you might as well try.
That's the lesson from a large study of death rates in optimistic vs. pessimistic women, conducted by researchers at the University of Pittsburgh. Using data from the Women's Health Initiative, an ongoing government study of more than 100,000 women over age 50 that began ...
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