Word: borrowers
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...most impressive evidence of a slowdown in the economy is the weakness in retail sales," says Lacy Hunt, chief economist for HSBC Securities. "Retailers are terribly overstocked despite the massive discounting." That is partly because rising interest rates have been making it more costly for already overburdened consumers to borrow and spend. Americans took out a hefty $120 billion in new loans last year, increasing consumer debt to a record $891 billion. Much of that buildup came from low- and middle-income borrowers, whose earnings have shown little or no growth after adjusting for inflation...
...paranoid critic thinks so. Adair's translation is an astounding Anglicization of Francophonic mania, a daunting triumph of will pushing its way through imposing roadblocks to a magical country, an absurdist nirvana, of humor, pathos and loss. Go forth to your local bookstall or library, pay $24 for or borrow a copy of A Void, and savor it slowly. But stay wary and vigilant, and mind your ps and qs, to say nothing at all about your ... Aaiioouugh...
...eliminating it, students would need to borrow more in order to cover the loss of the interest subsidy," she says. "The longer you stay in school, the more costly it becomes...
...Nishinomiya, where damage was appalling. In Kobe, Kunii had to cover neighborhoods on foot, masking her mouth from smoke and fumes that burned the throat. One night she took shelter on the concrete floor of a school when the temperature was below freezing. Finally she was able to borrow a bicycle. The owner's stipulation: it must eventually be passed on to another needy person. When she left for Tokyo, Kunii bequeathed it to an arriving German correspondent, wishing she had been that lucky early...
...Citron. So conservative after hours that he preferred to keep his own money in bank accounts, Citron was nonetheless known throughout California as a high-rolling wizard when it came to public money. In 1979 Citron helped change a state law to allow counties to - borrow vast amounts through arrangements called reverse repurchase agreements. Such deals permit treasurers to take out what amount to short-term loans from firms like Merrill Lynch and invest the proceeds in longer-term bonds that pay more interest. In pursuit of this strategy, Citron added a boggling $12.5 billion of borrowed bonds...