As a child growing up on his family's farm in the 1980s, Jere Gettle didn't spend his evenings watching TV; instead, he read seed catalogs. To him, the endless varieties of seeds with exotic sounding names were full of possibility. He loved the idea of planting them in the ground, tending the crops that grew from them and preparing the harvested vegetables for a family meal.
Though most central bankers hate inflation, policies that promote inflation may boost the U.S. economy, some economists say.
Ken Rogoff, former chief economist at the International Monetary Fund, says the Federal Reserve's efforts to boost growth haven't worked and the central bank needs to be more forceful.
"They need to be willing, in fact actively pursue, letting inflation rise a bit more," says Rogoff, who is now a professor at Harvard. "That would encourage consumption. It would encourage investment. It would bring housing prices into line."
Pot dispensaries have flourished in California, one of 16 states where the use of medical marijuana is legal. But the federal government is now giving some of the state's pot shops 45 days to close down.
The state's four U.S. attorneys gave notice to at least 16 stores that they must close, or face criminal charges and the seizure of their property, according to the Associated Press.
News that a Florida legislator wants to bring back the banned activity of "dwarf tossing" has people shaking their heads, and wondering why in the world you would want to do something like that. Of course, they're also curious as to whether he'll succeed.
Fake products permeate nearly every corner of China's economy. Earlier this year, the trend seemed to reach a new low when phony Apple stores were exposed in southwestern China.
Each fall, the fakery even extends to the world of seafood and East China's Yangcheng Lake, which is just a short train ride from Shanghai. Yangcheng is home to what are reputed to be China's tastiest and most expensive hairy crabs.
The International Olympic Committee says it will fight a court's decision that overturns its rule barring athletes suspended for doping from the next Olympics. The rule, which applied to anyone suspended for more than six months, was challenged by U.S. sprinter LaShawn Merritt, with the support of the U.S. Olympic Committee.
In the late 1970s, recently out of Harvard Business School, Mitt Romney went to work for the Boston consulting firm Bain & Co. He was successful, but he says his dream was always to run his own business.
In 1984, he got the chance.
The firm's founder asked Romney to start an investment fund called Bain Capital. The company would put money into small or struggling businesses, help them grow, and then Bain would cash out.
The tech world is mourning Steve Jobs, who died Wednesday from complications of pancreatic cancer. Even as the tributes roll in, it's hard to avoid this nagging question: What will become of Apple without its charismatic co-founder?
Jobs rescued Apple from near bankruptcy and turned it into one of America's most important companies — and one of its biggest. Now, Apple is trying to keep the Jobs magic alive.
Old hands in Washington know it's never a good sign when the president of the United States has to make a statement like this one.
"I have complete confidence in Attorney General Holder, in how he handles his office," President Obama told reporters at a news conference Thursday. "He has been very aggressive in going after gun running and cash transactions that are going to these transnational drug cartels."
Originally published on Thu October 6, 2011 4:11 pm
With college sports conferences realigning themselves as if they were inspired by the Human Centipede horror films, another twist has emerged today, with Texas Christian University opting to leave the Big East — a conference it had not yet formally joined — in favor of the Big 12.
The move is sure to unsettle the Big East, which has already lost Syracuse and Pittsburgh to the Atlantic Coast Conference. There are also rumblings that the University of Connecticut is interested in leaving for the ACC, as well.