Word: credited
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Dates: during 2000-2009
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...fact is that the world economy continues to be burdened by heavy baggage created during the boom times, problems that could take years to resolve. U.S. consumers are undergoing their own debt workout, one that might even worsen if joblessness continues to rise. Though defaults on credit cards in the U.S. fell in October, delinquencies, or late payments, rose - a sign that financial firms could expect more losses down the road. Japan, which experienced its fastest growth in two years in the third quarter, is dealing with the nasty problem of deflation, an indication that the economy is suffering from...
...increased pressure from the U.S. and European Union to allow the yuan to appreciate, though policymakers remain nervous about the negative effect that could have on its struggling export sector. China "is like watching a duck swim," says Giles Chance, author of the recently published book China and the Credit Crisis. "On the surface it seems fine, but underneath it's quite chaotic." (Read "How Wall Street's Bust Threatens Dubai's Boom...
Even some parts of Florida are now embracing that approach. Lee County, which includes Fort Myers, passed its own complete-streets resolution this month after the TFA study was released. And to its credit, Florida's Department of Transportation has ramped up sidewalk-construction campaigns, which Victor says have been most impressive in school zones. Florida's cash-strapped school districts have had to cut back on bus service for students in recent years, forcing more children to walk to school - and prodding state officials to discover how little access those kids have to safe crosswalks and sidewalks in many...
...also realize that part of what got us here was overspending, and that that overspending was fostered by a shopping culture that uses cheap goods to hook people on feeling like they're winning at something. As a country, we held nearly $1 trillion in credit-card debt this time last year-about the same as the value of all the goods and services produced in South Korea annually. We've bought so much stuff that we've struggled to find places to fit it all. The U.S. went from having 300 million square feet of self-storage space...
...retailers are digging in their heels, insisting they won't slash prices to 2008 levels. Last year, retailers had loaded up on goods for the holiday season but were then hit with the collapse of Lehman Brothers, upheaval in the credit markets and the AIG crisis, which sent tremors of fear far and wide. Consumer spending dried up, and shoppers abruptly disappeared. Retailers found themselves sitting on huge inventories of unsold goods, and many frantically started chopping prices to clear shelves...