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Booming
Starting Out ‘Us Against the World,’ but Still Together
When they first met, he thought she was white and she thought he was black, and they were both wrong. But 45 years later, they know they’ve gotten a lot right.
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Your Money
A Guessing Game on Taxes Owed
With the next estimated tax payment around the corner, here are some tips to avoid overpaying your taxes.
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Opinion
The New Nuclear Craze
Fears of climate change are no reason to revive a doomed energy source.
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Opinion
The Next Hurricane, and the Next...
Seeing Sandy as a sign of calamities that await, a presidential task force wants federal money directed to preparing for the worst.
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World
Nuclear Operator Raises Alarm on Crisis
Tepco, the operator, said there were more than 200,000 tons of radioactive water in makeshift tanks vulnerable to leaks, adding to a long list of mishaps.
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Business Day
Wain Kellum of Vocalocity on Winning Over Employees
The chief of an Internet-based phone service says human beings want to be part of something bigger than themselves.
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Technology
To Build a Better Lego Robot
Lego updated its Mindstorms robotics platform with a kit that includes features like Bluetooth compatibility and a remote control app.
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Opinion
The Unending Struggle to Find Affordable Child Care
Readers respond to an article about how even middle-class families are daunted by day care costs.
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Opinion
From the Fire Hose: Obama's Bus Stop in Gas Country, Al Gore's 'Category 6,' an Unplugging Climate Blogger
A roundup of developments on the fracking fight, Arctic ice, and the perils of climate overstatement.
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Sports
Study Revealing Doping in Track Strikes Hurdle
The World Anti-Doping Agency prevented researchers from publishing a study that indicated many track and field athletes were doping.
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Business Day
At a Fed Conference, Views Differ Sharply on Stimulus’s Effect
At the annual meeting in Jackson Hole, Wyo., global policy makers expressed concern over the Federal Reserve’s stimulus campaign and the possible consequences when it ends.The Macroeconomics of Sisyphus
Simon Wren-Lewis is deeply annoyed at the IMF,
and understandably so. How can you publish a paper about fiscal
adjustment that explicitly takes no account of monetary policy, and
claim that it has any relevance to current problems?
In general, trying to do policy-relevant macroeconomics these past 5 years has felt like the curse of Sisyphus: you labor mightily to get some simple but essential point across, you think that maybe, finally, you’re getting through. Then along comes some famous economist or report from an influential agency that rolls the level of the discussion right back down to the bottom.
The central fact of macro policy in these times isn’t subtle:
In normal times, the central bank can offset fiscal contraction by
cutting interest rates. Since late 2008, however, the interest rates the
Fed can control have been limited by the zero lower bound. This means
that there is no offset to the negative effects of fiscal consolidation —
which means that this is not the time to be doing such consolidation,
which should wait until we emerge from this condition. We’re in a St.
Augustine economy: Grant me chastity and continence, but not yet.
This isn’t complicated, and it isn’t new — it’s what we’ve been saying for almost 5 years. There are arguments one can make on the other side, although the two main ones — expansionary austerity and the supposed existence of a red line on debt at 90 percent of GDP — have imploded. Still, I guess a paper offering a new argument for front-loaded austerity might be worth reading.
But to put out a paper in 2013 that simply ignores the whole issue bespeaks a level of, well, denseness that leaves one breathless."
In general, trying to do policy-relevant macroeconomics these past 5 years has felt like the curse of Sisyphus: you labor mightily to get some simple but essential point across, you think that maybe, finally, you’re getting through. Then along comes some famous economist or report from an influential agency that rolls the level of the discussion right back down to the bottom.
The central fact of macro policy in these times isn’t subtle:
This isn’t complicated, and it isn’t new — it’s what we’ve been saying for almost 5 years. There are arguments one can make on the other side, although the two main ones — expansionary austerity and the supposed existence of a red line on debt at 90 percent of GDP — have imploded. Still, I guess a paper offering a new argument for front-loaded austerity might be worth reading.
But to put out a paper in 2013 that simply ignores the whole issue bespeaks a level of, well, denseness that leaves one breathless."
Stimulus will continue until the interest rate goes up.
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Business Day
New Rules Would Cut Silica Dust Exposure
The proposal to limit crystalline silica, which causes the irreversible respiratory disease silicosis, would strengthen exposure limits adopted four decades ago.
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Health
Life, Interrupted: A Test of Faith
It had never occurred to me that, with all of the progress that has been made in cancer research, none of the standard treatments would work for me. That’s when I learned about something called a clinical trial.
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Autos
Go East Old Man: Off The Reservation
In the penultimate installation of his tiny motorcycle travel tale, Dexter Ford crosses through Indian country.
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Opinion
A Treaty on Wages
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World
Remembering Iraq on an Indian Reservation
Nathan S. Webster asks why Lance Marottek, 25, returned to the Fort Peck Indian Reservation in northwestern Montana after five years in the Army.
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Business Day
Airline Presses Court to Back Restructuring Plan
American Airlines and its creditors’ committee urged a bankruptcy judge to approve the airline’s restructuring plan despite an antitrust challenge from the Justice Department.
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World
Thai Officials Play Down Effects of Oil Spill
In Thailand's third-largest oil spill, the government was quick to try to declare the affected areas safe for tourists, with one official going as far to swim in one of the worst-contaminated areas.
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Health
At the Chiropractor, Well-Adjusted Pets
Chiropractic is gaining popularity among pet owners, as a way to treat animals suffering from arthritis, sprains, joint pain and other ailments.
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More Details About the Georgia School Gunman's Siege
No one was killed or injured in the armed invasion of the school in Decatur, Ga., but the gunman, Michael Brandon Hill, held one or two school employees captive in an office, then opened fire about half a dozen times at the police before surrendering.
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Opinion
The New Nuclear Craze
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Opinion
The Next Hurricane, and the Next
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U.S.
U.S. Is Suing in Texas Cases Over Voting by Minorities
The Justice Department said it would become a co-plaintiff in a case against a Texas redistricting plan, and would sue the state over a law requiring voters to show photo identification.
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N.Y. / Region
Out of Enclaves, a Pressure to Accommodate Traditions
The rise in the population and the influence of ultra-Orthodox Jews in New York has provoked repeated conflicts with the city over revered practices.
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Business Day
A Closely Watched Gauge Suggests Stronger Growth
Solid gains last month in an index from the Conference Board suggested that economic growth was picking up after a weak start.
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U.S.
Median Income Rises, but Is Still 6% Below Level at Start of Recession in ’07
A study issued on Wednesday suggests why many Americans remain glum even though the economy is growing and unemployment has declined.
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N.Y. / Region
Trailing in Polls, Stringer Woos Black Voters
Scott M. Stringer’s opponent in the primary for comptroller, Eliot Spitzer, is viewed as the front-runner primarily because of strong support among black voters.
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Business Day
Airline Presses Court to Back Restructuring Plan
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N.Y. / Region
Trailing in Polls, Stringer Woos Black Voters
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N.Y. / Region
A Troubled Teenager at Odds With Life in the Bronx
Shaaliver Douse had two gun-related arrests before being killed by an officer. Family and friends said he was not a hardened criminal but an impressionable youth.
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U.S.
Pennsylvania: Mistaken Identity at Funeral
A Philadelphia woman has turned up alive nearly two weeks after her family held a funeral and burial for her.
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