Back in 1978 Californians passed Proposition 13, which halved property taxes and constrained their growth.
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The long term after effects of the financial crisis (scarce and expensive capital, increased regulation and constrained economic growth) continue to impact the financial services business model.
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The stock completely broke down after hours, as the second-biggest shipping company by market capitalization blamed constrained revenue growth in its FedEx Express group for the shortfall.
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Thus, when you are investing in stocks, a company selling at fair value may still generate plenty of return for you, but those returns will be constrained by earnings growth.
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With Heathrow's growth constrained, direct routes across the North Sea and links via other European hubs - Amsterdam, Paris, Frankfurt and so on - Scotland's inbound tourism and outbound business could do with new options.
But, to date, money growth has been constrained by large excess reserves, which the Fed pays interest on.
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"But regional growth should not be constrained by water concerns, " he said.
This is even more important when fiscal policy is also severely constrained by Europe's stability and growth pact.
While household spending has picked up recently, it remains constrained by high unemployment, modest income growth, lower housing wealth and tight credit.
The FOMC notes that household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth and tight credit.
In its statement the Fed said the economic recovery has slowed again since its last meeting in August, noting that consumer spending remains constrained by high unemployment, modest income growth, lower home prices, and still tight credit.
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Oil prices could peak in the near term as high prices put a check on demand growth and supply continues to be constrained.
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At the same time, global growth also appears to have entered a constrained patch as excessive debt levels weigh on the US, Europe and Japan.
Second, fiscal policy in the euro area is constrained by the European Union's stability and growth pact, which limits budget deficits, while wages and prices are less flexible than in America.
But as the United States transitions to a carbon-constrained economy, new industries would develop, consequently spawning jobs and sustaining growth while also improving air and water.
"China's growth should continue to outpace other leading economies, cushioning the slowdown, but exports will still be constrained by weak demand in Europe, " it added.
Install 100 million phones and the network becomes a powerful tool for economic growth, as people gain the ability to instantly exchange ideas and engage in transactions that previously were constrained by the laws of time and space.
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