Word: worldly
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...Australia is so way Down Under that what happens there often seems far removed from the rest of the world. Not this time. The Aussies' aggressive tightening is seen as the start of the global exit from the unprecedented liquidity governments have injected into their financial systems to avert an economic depression. (See pictures of the global financial crisis...
...potentially dangerous step. No one knows exactly how a withdrawal will affect the tentative global economic recovery - just as it is not clear, even now, whether interest-rate cuts and huge stimulus spending in the U.S. and elsewhere are resulting in sustainable economic growth. The world is in uncharted territory. Policymakers are acting on the fly, without much in the way of historical precedence to guide them...
...fiscal policies that were brought to bear against it have overturned all the verities about long-term investing. Exiting from those policies is not likely to reinstate them. How will equities, bonds, commodities, oil, gold, currencies and other investment vehicles fare in the post-crisis, post-stimulus-spending world? (See how Americans are spending...
...group of developed and developing economies that has taken over the G-8 industrialized countries as the decision maker in global economic affairs, agreed over the weekend to adopt a detailed timetable in order to coordinate the world's stimulus exit. The first steps are slated to be announced by the end of January next year. "If we put on the brakes too quickly we will weaken the economy and the financial system," warned U.S. Treasury Secretary Tim Geithner, "and the ultimate cost of the crisis will be greater." (See how to plan for retirement...
Burke's broadside at O'Malley was inspired by the Cardinal's decision to permit and preside over a funeral Mass for the late Senator Ted Kennedy. And it has set the Catholic world abuzz. Even more than protests over the University of Notre Dame's decision to invite President Barack Obama to speak, disputes over the Kennedy funeral have brought into the open an argument that has been roiling within American Catholicism. The debate nominally centers on the question of how to deal with politicians who support abortion rights. Burke and others who believe a Catholic's position...