Word: cases
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...debt. We've now mostly worked through the subprime mortgage mess that started this whole debacle, but lots more losses - from prime mortgages, credit cards, commercial real estate, you name it - are still to come. Morgan Stanley economist Richard Berner estimated on Tuesday that even in the most bullish case, banks and other lenders have only recognized about half the $1.7 trillion in loan losses they're likely to suffer over the course of the downturn. In Berner's "bear" case, losses will top $4 trillion...
...market works. Studies have shown that stocks do tend to generally move in same direction for a while, before swiftly shifting course. But technical analysis can lead to overly optimistic views of the stocks at a time when they have been rising rapidly. And that could be the case now. The recent rally has left the Standard & Poor's 500 with a price-to-earnings ratio, based on an estimate of 2009 profits, of 15, up from 11 at beginning of March. That means stocks are relatively cheap compared to an average of the past two decades of about...
...national health authorities. Flu is common among pigs but not much more deadly than it usually is among people. (The H5N1 bird flu virus, by comparison, destroys poultry populations.) That means that flu infections in swine herds can easily fall under the radar, as seems to have been the case with the new H1N1. Though there were sporadic reports of flu infections passing from pigs to people over the past few years, "we hadn't seen anything that tipped us off that this was something different," says Tom Burkgren, executive director of the American Association of Swine Veterinarians...
...case we had any doubts, the rapid spread of the H1N1 virus should convince us that biologically, we live in one world, sharing microbes between species and across borders. When it comes to crafting a global early-warning system equal to the challenges posed by new pathogens, we're only as strong as our weakest link, whether that's the lack of animal-disease surveillance in the U.S. or the less-than-ideal laboratory capacity in Mexico. "We have to break down the barriers between organizations and agencies," says Lubroth. "It's one world, one health...
Besser: That's been a question that has come up many times. The first definitive case of H1N1 was not diagnosed in Mexico, but in San Diego. So at the time that the outbreak was first diagnosed, it was already in the U.S. Our pandemic planning, overarching planning that was done largely around avian flu, had approached or looked at [an outbreak that] would originate off our shores. Then you could send in a team and attempt to contain it, if it were in a small area. Once it moved out of a small area, it's impossible to contain...