Word: panic
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...accept that millions of people betting with their wallets collectively know best, there is little cause for panic. The markets are signaling thumbs up. Stocks took the news of higher rates in stride, rallying in the days prior to the rate boost and again on Tuesday, when the announcement came. Bank and other financial stocks--highly vulnerable to rising rates--were among the strongest, suggesting that investors may sense an end to the Fed's campaign...
...nose-diving NASDAQ forecasting a recession? No one knows. But the Federal Reserve will raise short-term interest rates this week, possibly by a hefty 0.5 percentage point. I'm not suggesting anyone hit the panic button. But a steady rise in interest rates is how good times often end. Given that the Fed has been boosting rates since last June--mortgages are the costliest in five years--why not use today's prosperity to pay off debt...
There is plenty about our present globalized economic system that should trouble not just aging radicals but ordinary people as well. A financial panic starting in distant money centers can cause you, through no fault of your own, to lose your job, as happened to millions of people during the Asian financial crisis of 1997. Modern capitalists can move their money in and out of different countries around the world at the speed of a mouse click. Democratic countries find that their options for political choice--whether in the realm of social policy, economic regulation or culture--are curtailed...
...such semiotic slop the basis of your metaphysical system, and it's easy enough to see how what is actually a neat correlation between sunspot activity and global warming is, and is not; how today's warming hysteria is, and is not like the analogous "the-glaciers-are-coming" panic of 20 years...
...lord of the Continent, is not a happy man. The euro, the newfangled currency he has been charged with shepherding since its New Year 1999 debut, is down 23 percent, and on Monday finance ministers from the 11 euro-zone nations arrived for their monthly meeting in a deepening panic. "It is quite evident that we have to address the euro situation," said Luxembourg's Jean-Claude Juncker. "We have to be more creative." But the finance ministers have already signed away all their powers to the ECB. And though speculators' hearts raced Friday after a sorrowful Duisenberg hinted...