Word: sectored
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
JEFF Faux of The Nation exposes three serious shortcomings in the Peterson plan. First, it seeks to bring down the deficits too fast. Peterson's goal of a $30-40 billion reduction in the first year equals a net public sector stimulus of zero, which increases the risks of recession. Second, it uses fiscal austerity as a pretext for undermining the role of government in domestic investment, especially in terms of human resources...
What is new is the rapidly growing appetite for supercomputer power in the private sector. In a classic case of a technology developed for a few specialized purposes finding application in all sorts of unexpected areas, supercomputing has spread from one industry to another like a benevolent virus. Semiconductor manufacturers use supercomputers to design ways to squeeze more transistors into a square-centimeter chip of silicon. Financial advisers use them to devise investment strategies of dizzying complexity. Biochemists need them to predict which molecules are worth testing as new medicines. Engineers rely on them to design new cars, jet engines...
Reagan and his congressional allies argued for a less sweeping alternative, saying the act went far beyond simple restoration. They said it would curtail religious liberty and expand federal control over the private sector...
Opponents contended the bill had little to do with civil rights and had much to do with what Reagan yesterday called "a power grab by Washington, designed to take control away from states, localities, communities, parents and the private sector and give it to federal bureaucrats and judges...
Edward Yardeni, director of economics at Prudential-Bache Securities, also sees an interruption of the business cycle, but for a different reason. Rather than an economy-wide downturn, he says, the U.S. has been experiencing a "rolling recession" that has moved from one sector to another without halting overall growth. While agriculture, the oil business and heavy industries like steel have slumped in recent years, high-tech companies, financial services and fast-food outlets have thrived. Now retailers and stockbrokers may be facing hard times, but farming and manufacturing are recovering...