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...recent weeks, as Japan's Prime Minister Yukio Hatoyama and his administration have pressed the central bank to take steps to contain deflation, prevent another downturn in the economy, and to tame the runaway yen, now at 86 yen to the dollar compared to 93 a year ago. On Nov. 27, the dollar fell to a 14-year low against the yen, triggering concerns that the currency could start to unravel progress that stimulus spending has made on the economy this year, in part by wreaking havoc on export competitiveness. (See the top 10 colorful spouses, including Miyuki Hatoyama...
...Shirakawa has previously said that it was not the lack of liquidity in Japan's economy, but the lack of demand that is behind the economic situation. On Nov. 20, the day that Hatoyama acknowledged deflation, Shirakawa said, "We need to work on the core reason for [deflation]: weak final demand as seen in capital investment and private consumption." Economists estimate Japan's demand shortage at around $400 billion a year. (Read: "Japan's Latest Economic Ailment: Deflation...
This Thanksgiving weekend, an entirely different meal dominated holiday conversation across the nation. President Barack Obama’s first state dinner, held on Nov. 24, proved eventful not because of its guest list of notable dignitaries and celebrities, but due to the presence of uninvited attendees Michaele and Tareq Salahi. These “gatecrashers” managed to infiltrate the private event allegedly in hopes of securing a place in reality television. Their actions reveal our culture’s peculiar and unfortunate fixation with celebrity status and Americans’ desire to achieve it by whatever means...
After 12 years, International Atomic Energy Agency director general Mohamed ElBaradei is stepping down Nov. 30. Taking his place will be Japanese diplomat Yukiya Amano, who was elected in July to become the fifth leader in the organization's history. Amano, who has served the IAEA since the 1990s, has experience in disarmament, nonproliferation and nuclear-energy policy. As tensions with nations such as Iran and North Korea have come to a head in recent months, Amano has said that he will stick to the IAEA's mandate of inspections to prevent proliferation. He is supportive of U.S. President Barack...
...their best shots at Amanda Knox, the Seattle exchange student accused of killing her British roommate, explaining the murder of Meredith Kercher in terms of saint vs. sinner. In final arguments, Perugia's public prosecutor Giuliano Mignini said the American slit her roommate's throat on the night of Nov. 1, 2007, driven by sexual desire and alpha-female competitiveness. Asking for a life sentence with nine months' isolation, Mignini said "La Knox" wanted a sex "game" and used her feminine wiles to manipulate two besotted young men - one of whom is already convicted, the other on trial with...