Word: calderon
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...company in retail - the country's second largest industry, employing some 25 million Americans - those are about the most depressing words you can hear. And millions of Americans are now on the same page. Consider Maria Calderon, a single mother of two in Greenacres, Fla., who works for the Palm Beach County public defender's office. Two months ago, she lost a second, part-time job that had helped pay the bills. She soon surrendered to the gods of credit-card debt. She visited a West Palm Beach credit-counseling service to deal with some $20,000 in unpaid bills...
...great risk, as consumers like Calderon cut their spending, is that bad economic news begets more bad news. Bernanke recently called this the "adverse-reaction loop": as consumers spend less, the economy weakens more, unemployment rises, mortgage foreclosures increase, putting more pressure on the financial system, and on the downward spiral goes. Capital Economics' Ashworth acknowledges that the "scenario is out there. It can't be totally dismissed. This deleveraging process could get very, very scary...
...Home to President Felipe Calderon, Michoacan state is used by cartels to harvest and traffic narcotics, including marijuana and opium. In recent years, the region has spawned a particularly brutal gang known as "La Familia," who once threw five severed human heads onto the dance floor of a disco. When Calderon took office in December 2006, the bespectacled lawyer began a national crackdown against organized crime, starting the campaign in Michoacan, where he sent soldiers into mountains to burn crops and seize safe houses. And the cartels have responded with a violent counteroffensive, killing more than 500 police, soldiers, judges...
...Addressing independence day celebrations on Tuesday, Calderon called for national unity against the cartels, and said he would not retreat from his offensive. "It was a miserable attack against defenseless people, celebrating our national fiesta with peace and pride. When they try and sow fear for their own ambitions, it is not one person or group who suffers the consequences but all Mexicans," he said from Mexico's towering Independence monument. "We need unity. We need to all rally round the government to stop these criminals...
...destruction of Spain, the 2006 World Champions, was more like a throwback game: a throwback to the days of the Dream Team, when the US seemed to play a different class of hoops than its competitors. Spain has NBA star Pau Gasol, slick point guard Jose Calderon, and an established style of success in international ball. Yet tonight they got obliterated, wilting against the absolutely withering defense the US team has brought to Beijing...