Word: either...or
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...markets rebounded smartly on Wednesday, after the Fed's move, but the fact remained that investors worldwide were finally absorbing an unavoidable truth: the United States, still the biggest market for the world's exports, appears to be in real economic trouble. Most economists now believe the U.S. is either already - or soon will be - in its first recession since 2001, and that this one could be a doozy. "The asset bubbles underpinning the US economy have started to unwind the other way," says Stephen Roach, Chairman of Morgan Stanley Asia. "This recession was triggered by the bursting...
Others disagree. "I think Google is going to go for it," says Tim Wu, a Columbia law professor and net neutrality expert. "They are the Obama in this race. They don't have the advantages of the Bell culture, but they aren't trapped by it either." Google could benefit by controlling their own wires, which could potentially mean huge profits down the road and direct access to their customers - a safety net against any wireless carrier whims...
...activity in the U.S., but over the past few years, it's ratcheted up to around 72%. "If we take the 5 percentage points out this year, it will be the mother of all U.S. recessions," Roach says. But putting the adjustment off indefinitely isn't a great idea either. "It's just pushing the fundamental problem down the road," says Columbia University economist and Nobel laureate Joseph Stiglitz. "The problem with the U.S. is excessive consumption...
...popular. Instead, he waited his turn. Now that his moment is arriving, Veltroni should resist the temptation to cut deals with the leaders of small parties - the Mastellas of the left, right and center. If he goes it alone, it might be his downfall. Or it might not. But either way, it is time that he - or someone - showed a little of the courage Italy needs...
That sentiment is echoed by captain David Dehart, a military intelligence officer working with Brown and other commanders in an area of southern Baghdad that used to be a no-go zone for U.S. troops. "A lot of these guys are $50 away from either putting in an IED [roadside bomb] or standing on a checkpoint with an AK" guarding the neighborhood for us, says Dehart...