Word: augustness
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...stock market has dropped more than 70% in the past year, as the nation's business élite dumped stocks to repay the huge loans they took out to finance acquisitions in Russia and abroad. Capital is fleeing - investors have pulled about $190 billion out of Russia since August - and the ruble is under pressure...
...formal permission - from the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) - to call what the U.S. economy is experiencing a recession. Just a few days later, after the Labor Department announced that U.S. employers shed 533,000 jobs in November and 1.2 million since August, some were agitating to ditch the R word and replace it with the more ominous D one. "Shall we call it a depression now?" asked former Labor Secretary Robert Reich. "The threat of a widespread depression is now real and present," argued the University of Maryland's Peter Morici...
...start date (because that's when employment peaked), and it's very hard to find anybody willing to predict that the economy will resume growing by May. As for severity, though the first eight months of the recession were quite mild, the pace of job losses since August is beginning to rival that of the big 1970s and '80s recessions. So while President-elect Barack Obama and others who dub this the worst downturn since the Great Depression don't have definitive evidence just yet, they're not blowing smoke either. (See pictures of the stock market crash...
...estate prices over the past year has hardly helped the owners of these rental units. According to Patricia A. Whiting, a clinical instructor affiliated with the Legal Aid Bureau, foreclosure evictions have spiked over the past months, after a 90-day waiting-period law on all foreclosures expired in August...
...easy part. Somalia remains a painful symbol of the difficulties of humanitarian missions. According to the official history by U.S. Army Chief of Military History Brigadier General John Brown, “no such [humanitarian] operation has proven as costly or shocking, however, as that undertaken in Somalia from August 1992 to March 1994.” Although American troops had been greeted as liberators at first, “Operation RESTORE HOPE” turned sour very rapidly after local warlords, fearing loss of power, began targeting the foreign troops under anti-imperialistic slogans. When the public back home...