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...never get any equity from their residences. They are probably better off to rent under the circumstances and move back into the housing market when it begins to recover. Some owners have been burned so badly that they may rent for life. That in and of itself will keep demand for home purchases low. (See pictures of the housing crisis...

Author: /time Magazine | Title: Housing Is Not Just Bad, It's Getting Worse | 5/27/2009 | See Source »

...creditors have rejected a program that would have swapped most of the auto company's debt for equity, effectively driving the firm into Chapter 11. The century that began with the mass production of the Model T in 1909 and ended with the worst collapse of domestic vehicle demand in history is over. It was a 100-year period when Detroit was considered the seat of global manufacturing prowess, a period when the Big Three were among the largest, and often the most profitable, companies in the world...

Author: /time Magazine | Title: GM Prepares for Bankruptcy | 5/27/2009 | See Source »

...they usually rule the day. Speculators still seem prepared to trade crude above $60 on most days. A fair number of analysts see oil moving to $70 or $75 by Labor Day. The cost of a barrel of crude will move up if there is strong evidence that the demand in China is growing. Ironically if there are signs of a sharply improving economic picture in the U.S., oil could move up more than most traders expect. (See pictures...

Author: /time Magazine | Title: Summer 2009: The Long Wait for Evidence of a Recovery | 5/26/2009 | See Source »

...Civilian demand for GPS products surged in 2000, when the military ended its practice of intentionally fuzzing the satellite's signals for security purposes. Overnight, navigation devices became 10 times more accurate and swiftly became standard equipment in a slew of industries, from commercial fishing to freight-hauling. Consumers have also rushed in as the size and price of GPS receivers have dropped; they're growing increasingly common in phones, wristwatches and even dog collars. Adventure seekers use GPS for a game called geocaching, a kind of satellite-based treasure hunt that currently boasts more than 800,000 active "caches...

Author: /time Magazine | Title: GPS | 5/26/2009 | See Source »

...capture Democratic success at the ballot box in 2012. But it has nothing to do with the best parts of his presidential campaign. It seems the first of those postponed "unpleasant decisions" Obama cited in his Inaugural speech is the one to make the political sacrifices his promises demand...

Author: /time Magazine | Title: The Sacrifice Gap | 5/25/2009 | See Source »

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