Word: defaulters
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...going to have an economic crisis, do the rest of the world a favor: signal your intentions well in advance. That's one lesson (there are others) from the default by Argentina on $132 billion of debt. So far, the markets have hardly blinked, and the reason is plain: this train wreck has been coming for two years, giving those foreign banks holding Argentine paper plenty of time to hedge their bets or make provisions against losses. The default, says Nariman Behravesh, chief global economist at DRI-WEFA, an economic consultancy in Massachusetts, was so well anticipated that "foreign investors...
...sheet lets you instantly enlarge and examine hundreds of pictures at a glance, the better to find the one you're hunting for. This works far better than the PC alternative, which would have you manually labeling each picture you archive ("Joe at the Beach") or accepting a meaningless default name, like A2393745. (Best feature of the new program: point-and-click together a 10-page photo album of your favorite pics, pay $30 and an online publisher will print and mail you your own hardcover book...
...closest thing this club has to stars is linebacker Brian Urlacher, 23, an NFL defensive rookie of the year last season; first-year running back Anthony Thomas, 23; and quarterback Jim Miller, 30. The soft-spoken Miller is a rookie of sorts, who got the starting job practically by default in his third year with the Bears. He has ridden the bench for so long--seven seasons with Chicago, Pittsburgh, Jacksonville and Atlanta--that his pants are pine scented. No one is mistaking these guys for Dick Butkus, Walter Payton and Jim McMahon, but they've still got game...
...leaders could rescue the once-prosperous South American country from economic collapse. After the new President, Eduardo Duhalde, declared that "Argentina is bankrupt," the new Economy Minister, Jorge Remes Lenicov, announced a plan to tackle the crisis precipitated by the country's four-year recession and its Dec. 20 default on $132 billion in foreign debt. Remes Lenicov devalued the peso by 40% and announced steep cuts in public services...
...scant 10 months away - and Daschle doesn't lack for ammunition. Congress' first order of business when it returns to work Monday will be to heed Treasury Secretary Paul O'Neill's plea and raise the current $5.95 trillion federal debt ceiling to $6.7 trillion, lest the U.S. government default on its paper, Argentina-style. And Friday morning Bush's own Labor Department gave Daschle a nice hook to work into his speech when it announces the unemployment numbers for December. (Up again, slightly, to 5.8 percent...