Business & Economy

Crisis of a lifetime

Economy | Fannie Mae and Freddie Mac rescue promises more instability to come and more government sponsorship of consumption
by Alex Tokarev
Posted 7/26/08, 12:00 am

Year-long meltdowns of the real estate market have unsurprisingly reached Fannie Mae and Freddie Mac, two companies associated with half (a mind-boggling $10 trillion) of America's mortgages. Multi-billionaire George Soros warns the world that we could be witnessing "the most serious financial crisis of our lifetime," which in his case includes the Great Depression.

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Richard Drew/AP

Driving a tank through the porcelain store

Economic growth | Is Washington intervention in a hurting economy needed?
by Alex Tokarev
Posted 2/09/08, 12:00 am

Headlines are applauding the Federal Reserve's drop in interest rates and the White House/congressional drive to send checks to most American families. But what's the long-term cost of short-term happiness?

Price stability is a necessary condition for any economy's sustainable, healthy, long-term growth. While volatility is natural on Wall Street, sharp and unpredictable price changes on Main Street lead to inefficiencies.

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Stressful leisure

Business | A Gallup poll last year found that 44 percent of Americans consider themselves to be workaholics
by Timothy Lamer
Posted 6/03/06, 12:00 am

It has become axiomatic that the United States is, in the words of CIO magazine, "a nation of stressed-out workaholics." A Gallup poll last year found that 44 percent of Americans consider themselves to be workaholics. Advertisers have cashed in on the idea, with commercials for one theme park featuring fictional undertakers who thank Americans for working themselves into early graves. The concept of the "overworked American" has long been a staple of political and cultural discussion in Western Europe also.

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