Word: crunches
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...region's financial markets, banks became nervous about parting with funds, credit tightened, and stock markets plunged. South Korea has been looking particularly vulnerable to further turmoil. With some $80 billion of its banks' foreign debt maturing by mid-2009, investors worried the country could face a credit crunch that would restrict lending throughout the economy. Those fears have punished Korean stocks and the country's currency. The won plummeted nearly 10% on Oct. 16, its biggest one-day drop since the 1997 Asian financial crisis. Standard & Poor's last week also put seven South Korean banks on negative credit...
...month of Kartika marks Diwali, the Indian festival of lights, when Hindus across the country worship the goddess of wealth, Lakshmi. But divinities know full well the laws that govern finance, and Lakshmi may now be a little tight-fisted about circulating her riches amid the ongoing global credit crunch...
...since July, sending Middle East stocks tumbling and rendering regional investors increasingly cautious. Likewise, a global recession is likely to tighten the belts of the international investors and holiday makers that Dubai relies on for its real estate and tourism developments. Even before the global crunch, banks in the United Arab Emirates (UAE) were being hit this year by an outrunning stampede of billions of UAE dirhams - so-called hot money that one report valued at $55 billion - led by speculators giving up on hopes that the country would de-peg its currency from the U.S. dollar...
...doom and gloom, however. The UAE government has funneled $33 billion into the country's banking system to calm the nerves of depositors and investors, promising coverage to foreign as well as local institutions. If the credit crunch shakes out speculators, known as "flippers," from Dubai's real estate market, that could help stabilize wildly inflationary conditions. "I am not necessarily thinking we are in a crash scenario," EFG-Hermes managing director Hashem Montasser tells TIME. "There is still genuine demand. Economies here are still growing. Overall, the economic situation is still very sound. We will see a deceleration...
...shows Kanye attempting to sleep on that white couch, and the elapsed four minutes feel like 30. So what’s the hidden message here? Is Ye planning his own misogynistic murder spree? Maybe making some broader social commentary involving the late 80s recession and the current credit crunch? The erratic nature of the video might relate to Bateman’s weakening grip on reality in “American Psycho.” After watching “Love Lockdown” a few times, I couldn’t help but wonder if Kanye hadn?...