Going For Broke - how ordinary families wind up bankrupt and why new legislation could be hurting those at risk
By Karen Springen
Newsweek Aug. 31, 2006 Last year, the number of personal bankruptcies ballooned to two million as people rushed to beat last deadline for a new law that made it harder and more expensive for consumers to declare themselves broke. The increase was followed by a slump, with the Administrative Office of the U.S. Courts reporting this week that personal bankruptcies for the year ending June 30 fell to 1.45 million-the lowest level in five years.
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MarketWatch
23/08/2006 Housing is in free fall, pulling the economy down with it, Roubini argues
The United States is headed for a recession that will be "much nastier, deeper and more protracted" than the 2001 recession, says Nouriel Roubini, president of Roubini Global Economics. Writing on his blog Wednesday, Roubini repeated his call that the U.S. would be in recession in 2007, arguing that the collapse of housing would bring down the rest of the economy. Read more. Roubini wrote after the National Association of Realtors reported Wednesday that sales of existing homes fell 4.1% in July, while inventories soared to a 13-year high and prices flattened out on a year-over-year basis. |
MSNBC
02/09/2006 KABUL, Afghanistan - Afghanistan's world-leading opium cultivation rose a "staggering" 60 percent this year, the U.N. anti-drugs chief announced Saturday in urging the government to crack down on big traffickers and remove corrupt officials and police.
The record crop yielded 6,100 tons of opium, or enough to make 610 tons of heroin - outstripping the demand of the world's heroin users by a third, according to U.N. figures. Officials warned that the illicit trade is undermining the Afghan government, which is under attack by Islamic militants that a U.S.-led offensive helped drive from power in late 2001 for harboring Osama bin Laden and al-Qaida bases. "The news is very bad. On the opium front today in some of the provinces of Afghanistan, we face a state of emergency," Antonio Maria Costa, chief of the U.N. Office on Drugs and Crime, said at a news conference. "In the southern provinces, the situation is out of control." Comment: Bad news for some, good news for the CIA and other assorted Western intelligence agencies who fund their black budgets via their global drug trade.
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