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...recent Wednesday afternoon, Montserrat Vila sat in her Barcelona apartment, waiting for the bullfighters to appear. They were not coming to show off some cape work in her living room. In fact, they were not real bullfighters at all. Rather, the three men, dressed like matadors in garish tight pants and embroidered jackets, were coming to collect a debt...

Author: /time Magazine | Title: Spain's Costumed Debt Collectors: Final Notice? | 4/9/2009 | See Source »

Problems at Home If there is one region in South Africa on which the ANC might have focused its efforts to build democracy and progress, it is the Eastern Cape around East London. Drive out of the city and after an hour you descend into a steep, forested canyon along whose floor snakes the River Kei, the old boundary between white-run South Africa and the rolling prairies which apartheid authorities designated the black "homeland" of Transkei, meaning "across the Kei." During apartheid, the Transkei was a place of destitution: thousands of mud-walled, grass-roofed huts where people lived...

Author: /time Magazine | Title: Why South Africa's Over the Rainbow | 4/9/2009 | See Source »

Which makes it all the stranger that the ANC has done so little to improve the region. Today much of the Eastern Cape is still typified by mud-walled, grass-roofed huts without running water, where boys ride horses, girls carry babies on their backs and families subsist on cattle, sheep, goats, chickens and maize. A new power grid has reached most homes - but supply is erratic. Most roads remain unpaved. In Mthatha, 74% of the population earns less than $150 a month and 43% are unemployed, according to a June 2008 report by the South African Medical Journal...

Author: /time Magazine | Title: Why South Africa's Over the Rainbow | 4/9/2009 | See Source »

This is how empires rise and fall, pulling our fortunes along with them. Start with virgin territory: back in 1957, the Rosen brothers of Baltimore flew over Cape Coral, Fla., in a plane, liked what they saw, paid $678,000 for the farmland and started dredging 400 miles (640 km) of canals, which is more than Venice can claim. It was a peaceful place for old people - Cape Coma, folks called it, until about five years ago, when the gold rush began. College kids were waiting tables to buy condos and flip them; speculators got into bidding wars on unbuilt...

Author: /time Magazine | Title: The Hope in America's Foreclosure Capital | 4/2/2009 | See Source »

Marc Joseph grew up here, the Realtor son of a Realtor dad. He watched the market go mad and had his revelation: now is the moment to get back in - and stake your claim. At 41, he did not expect to be driving around Cape Coral in an old church bus that he bought off Craigslist, painted dollar green and emblazoned with the motto "ForeclosureToursRUs.com." But most people had no idea how to buy a house from a bank, and many were too scared to try, so he decided to lead tours of the new economic frontier...

Author: /time Magazine | Title: The Hope in America's Foreclosure Capital | 4/2/2009 | See Source »

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