Word: painfull
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When the ancient Assyrians felt the painful aftereffects of excess merriment, they consumed a mixture of ground birds' beaks and myrrh. European doctors in the Middle Ages recommended raw eel and bitter almonds. Mongolians ate pickled sheep's eyes, while China went with a more palatable dose of green tea...
From this anti-Depression policy has come a stream of costly policy errors that could ultimately prolong the current recession. The Fed's Dec. 16 decision to drop the target federal-funds rate to a record low of 0% to 0.25% is but the most recent of these. With rates...
The good news, though, is that recent research suggests that as long as you don't lose your job, your mood probably won't sour as much as the GDP. What's more, you're unlikely to stay feeling down for long, even if the recession turns out to be...
That isn't to say Daewoo's demise wasn't painful. The government and banks stage-managed Daewoo's unwinding to soften the blow to the economy. The group was broken apart. Some assets were sold. (Ironically, GM acquired some of Daewoo's car company.) Other affiliates got debt restructurings...
But the experience in Asia over the past decade shows that no company is too big to fail, the fallout is often not as painful as the dire predictions and, in the medium to long term, economies may actually benefit by permitting their deadweight to die.