“When an English speaker doesn’t understand a word of what someone says, he or she states that it’s ‘Greek to me’. When a Hebrew speaker encounters this difficulty, it ’sounds like Chinese’. I’ve been told the Korean equivalent is ’sounds like Hebrew’,” says Yuval Pinter (here on the excellent Languagelog).
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Does $65.5 trillion terrify anyone yet?
But "the worst is yet to come," according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American's standard of living is undergoing a "permanent change" - and not for the better as a result of: * An $8 trillion negative wealth effect from declining home values. * A $10 trillion negative wealth effect from weakened capital markets. * A $14 trillion consumer debt load amid "exploding unemployment", leading to "exploding bankruptcies." "The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car," Davidowitz says. "A lot of that is gone."
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the worldwide slowdown in that industry, which, in turn, has caused chemical production facilities around the world to close. Going forward, a number of factors will influence the availability of life-saving medicines and other critical commodities.
"We have limited resources," he says. "Everything we spend has to be financed and the interest paid. A dollar spent inefficiently is a dollar too much. Changes to entitlements tend to stick. A bridge can be built in the wrong place. These are long-term decisions that affect the budget baseline for years to come."
