Until Mr Greenspan raises interest rates, China's monetary authorities will find it difficult to do so.
If the Fed raises interest rates consistently throughout this year, that would be negative for Asia but that is not so probable.
Volatility is likely to increase when the Fed raises interest rates again, or if the stockmarket plunges as the corporate-bond market has.
In essence the perception is that before the Fed raises interest rates it will first end and probably begin to unwind its asset purchases.
Will another conundrum keep US interest rates low even if the Federal Reserve raises short-term interest rates?
Because a credit squeeze raises market interest rates, it will slow the economy down.
It also raises serious questions about conflicts of interest, as judges have approved cy pres donations to charities they may have connections to, and plaintiff lawyers may have an incentive to steer money to groups that can deliver them favors, such as prestigious universities they just might want their children to attend.
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Theme parks and heel-kicking shows of the Las Vegas variety are unlikely to interest them, and the notion that they should bring their families raises chuckles.
It will use the money it raises to offer mortgage products where borrowers do not pay interest in return for handing over a slice of their equity to the firm.
The fraud case against Goldman Sachs raises new questions about how well bankers manage the conflicts of interest that inevitably crop up.
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The contest raises thousands of pounds for charity every year and has attracted interest from around the world, even inspiring a similar event in China.
But it raises the question of why, because he's thinking about interest rates and inflation.
Such investments, borrowed at near-zero interest rates, need not increase debt ratios if their contribution to economic growth raises tax collections.
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"The one-page agreement that the Academy of Motion Picture Arts and Sciences enters into with the recipients of Oscar awards raises enough tricky questions of property and contract law to pique the interest of property and contract scholars, " says Richard A. Epstein, a law professor at the University of Chicago.
Bloomberg raises that possibility this morning in a highly speculative piece, suggesting that Jive could draw takeover interest from SAP or Oracle, among others.
That raises the high-stakes question of how to tax the proceeds from the sale of a partnership interest in one of these firms.
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And that, he says, raises the possibility that down the road the Internal Revenue Service might come calling for the tax, plus interest, plus penalties.
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