Word: stimulus
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Social norms help explain the attraction of opt-out 401(k)s as well: it's not just that we're too lazy to check a box but also that we assume the default is the accepted thing to do. Obama's push to weatherize millions of homes - another stimulus bonanza - will require new norms. In Oregon, a countywide program to upgrade windows and insulation at almost no cost to homeowners got a tepid response. But after an intense mobilization campaign - through citizen councils, churches and Girl Scouts who went door-to-door asking residents why they hadn't weatherized...
...President Obama and British Prime Minister Gordon Brown—fresh off his humiliating trip to Latin America—tussled with Sarkozy and German Chancellor Angela Merkel on the priorities of immediate stimulus versus regulation, Paramount Leader Hu Jintao quietly positioned China as the champion of the entire, unrepresented developing world. Meanwhile, President Lula da Silva of Brazil—the planet’s most popular politician, with an 80% approval rating—explicitly blamed the irrationality of white, blue-eyed beasts of prey for the financial crisis...
...annual revenues approaching $14 billion. A 10% pot tax would yield $1.4 billion in California alone. And that's probably a fraction of the revenues that would be available - and of the economic impact, with thousands of new jobs in agriculture, packaging, marketing and advertising. A veritable marijuana economic-stimulus package! (Read "Is Pot Good...
...what extent has the outcome of today's meeting of 19 leading economies and the European Union already been agreed? That's the $2 trillion question. The sum is the proposed level of fiscal stimulus by G-20 nations identified in an early leaked draft of the final communiqué expected later today. But amid squabbling in the run-up to the meeting, with France and Germany especially vocal in their objections to making specific commitments, the figure has been recast as the collated estimate of measures already planned as the world tries to stave off a prolonged downturn...
With the fiscal stimulus issue neatly sidelined, the crucial sticking points are around how to remedy the structural and regulatory problems that led to the crisis. Merkel and Sarkozy expressed fears at their joint appearance that there will be insufficient commitment to regulating the financial markets and to clamping down on tax havens. A list of such havens could be published at the summit "or in a couple of days," said Sarkozy yesterday, but further delay would be unacceptable. British officials say they support publication of such a list. The point of disagreement is on timing, but there's optimism...