Word: bustedly
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...employees, almost one-fifth of its workforce. Commodity exports - soybeans, steel - are weak. The main stock market is down 25% since September. But Lula, a former shoe-shine boy who heads the leftist Workers Party (PT), has so far kept the good times from becoming a hellish bust. In Brazil, that's nothing short of miraculous...
...this for odds: If you have a house in Las Vegas, there's a 58% chance you owe more on your mortgage than the place is worth. Nevada, of course, is ground zero for the real estate bust - but it's hardly alone in having truckloads of "underwater" homeowners. As of December, 19.8% of mortgage holders nationwide had negative equity in their houses, according to a new report by loan-tracker First American CoreLogic. That tally, which takes into account both first and second mortgages, represents 8.3 million homeowners, 700,000 more than when the firm checked in September...
...Tuition costs could also explain why graduate schools, traditionally a refuge in tough economic times, have seen uneven application numbers this year. Lance Choy, director of the career development center at Stanford, notes that grad schools were a popular backup a few years ago during the dotcom bust, but applications are flat this year. "Who needs more debt when the job market is looking rather grim?" he says. (Read "Finding a Dream Job: A Little Chaos Theory Helps...
...After a bust-out 2007-08, that's not so bad. Last winter, skiers and snowboarders bought a record 60.5 million lift tickets. A 6% drop would translate to some 57 million tickets sold, a figure that would beat the 55.1 million total in 2006-07, a season when the economy was still frothy but the snow was lousy. Further, in the 30 years the National Ski Areas Association has tracked such data, the industry has sold more than 57 million tickets during just six seasons, each occurring in this decade. "At the end of the day, there...
...that as being likely, but the probability of that eventually happening is rising. Right now, we are facing a situation in which many countries now have banking systems that are too big to fail and also too big to be saved. If Ireland or Greece go bust, then there is already a commitment from the Germans and French to, one way or another, bail them out. But if you have to rescue on top of them Austria and Italy, Portugal and Spain, and Belgium and the Netherlands, then that is not going to be possible. I am still...