John Kenneth Galbraith, one of the most famous practitioners of the high-minded guessing game known as economics, once noted that in the dismal science, “the majority is always wrong.” How else to explain the fact that so many economists upgraded their growth forecasts for the American economy at the end of last year, often to well above 3%, when the numbers so far this year have come in below 2%? The plunge is due to many things, from higher food and oil prices to supply-chain disruptions in the wake of the Japanese nuclear disaster to a terrible housing market.
Just past noon, Anna Chernova, a 68-year-old retiree, pushed her black metal shopping cart into an Aldi store here. After arriving from Russia 16 years ago, Chernova regularly shopped at conventional supermarkets like Dominick’s and Jewel, but no more
John Boehner, who often meets the press flanked by a team of deputies, took the podium alone on Thursday. With a week left before the government shuts down April 8, the House Speaker took pains to dispel rumors of a deal.
Wrestling legend and reality TV star Hulk Hogan reveals in a new book that he would have committed suicide were it not for a surprise phone call, according to a story in the New York Daily News.
All eyes are on corporate earnings these days as investors shift from a hopeful mode to one more demanding of real improvement. And in the business headlines, at least, they are seeing it.
Liverpool’s Champions League hopes took a blow as teenage Montenegro international Stevan Jovetic scored both goals to give Italian side Fiorentina a deserved 2-0 Group E victory. It was Liverpool’s first away defeat in Europe since the semifinal loss at Chelsea in April 2008, and only their ninth away reverse in 38 attempts under manager Rafael Benitez
Four people were killed Tuesday night in a suspected U.S. missile strike in Pakistan’s tribal region, according to a Pakistani intelligence official and a local government official.
Something fishy’s going on in Miami, and police and Florida wildlife officials said they’re trying to get to the bottom of it.
Children’s lives are at risk in swimming pools across the country as government agencies waffle on how to enforce a new federal law, child safety advocates say. The law requires new drain covers on pool filtration systems.
England were heading for victory in the second Ashes Test at Lord’s after reducing Australia to 178 for five wickets at tea on the fourth day. The 2007 Tour de France winner launched a devastating attack on the slopes of the final ascent of the day, leaving his rivals standing to finally cross the line 43 seconds ahead of Luxembourg’s Andy Schleck, with Italian Vincenzo Nibali third another 20 seconds behind. The Spaniard’s success moves him one minute 37 seconds ahead of Astana teammate Lance Armstrong, after the American seven-time champion was left behind by Contador’s attack – eventually finishing down in ninth position