Word: current
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...Less surprising, alas, is how forgettable most of them are. It's probably too much to expect Broadway theater to reflect our current economic troubles, but there's something particularly rarefied and irrelevant about the plays arriving this spring. Most are short (waiting out an intermission is apparently too much to ask of an audience these days), slight and largely oblivious to much that is happening in the world outside the theater. Even the season's hit political satire, Will Ferrell's You're Welcome America: A Final Night with George W. Bush, is one Administration - and what seems...
...spiking prices of energy, commodities and food, which placed a disproportionate burden on the limited incomes of the poor. The dollar-dominated system has also allowed the U.S. to finance its budget and trade deficits at a low cost, which perpetuated the global imbalances that contributed to the current economic crisis. A system like the one proposed by Beijing, argues Deutsche Bank economist Jun Ma, would make it possible "for China and many other countries to avoid being victims of the systemic risks generated by domestic economic problems and policy mistakes in issuing countries of major reserve currencies...
...also the possibility that the dollar, after its recent show of strength, will again weaken in value against other major currencies, eroding its attractiveness as a reserve currency. Confidence in the health of the U.S. economy, and therefore the U.S. dollar, could plunge because of continued large U.S. current-account deficits, an unstable banking sector and a recession-busting, expansionist monetary policy. The budget deficit, which the Congressional Budget Office estimates will reach $1.8 trillion this fiscal year, or 13% of GDP, is reaching heights not seen since World War II. (See the top 10 worst business deals...
...current recession is the longest since WWII and continues for another year, one of its most frightening characteristics is that the number of people whose jobless benefits run out is going to be large and will almost certainly grow substantially beginning relatively soon. This means that even though giving financial support to the unemployed may be an unbelievable expense, it may actually cost more to remove their government safety net and in some cases allow them to become indigent...
...March because the number of people pushed out of work last month rose 663,000. Each time another 1.7 million people lose their jobs, the unemployment rate moves up another 1%, so if 2.6 million more Americans are fired, the jobless rate will hit 10%. At the current rate at which the economy is shedding workers the 10% level will be reached by the end of July. The counterargument to picking a date only four months from now is that the rate at which people are losing jobs will decelerate. Of course, there is no basis for that. Since...