Word: digits
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...seasoned luxury-goods executives what excites them most about the future of the category, and they will undoubtedly launch into a lengthy discourse on emerging markets. For some, China holds the most promise, with its double-digit yearly growth and the expectation that it will surpass the U.S. in luxury-goods consumption by 2015. For others, India's youthquake and its established cultural affinity for luxury mean there is enormous potential for growth. Then there's Russia, where newly minted millionaires pay top dollar for everything from Breguet watches to Bell helicopters. In this, the first installment of a four...
...main reason for the boom's doom was that in the nation's San Diegos, double-digit annual price increases put most homes out of the reach of middle-income buyers. The mortgage industry and its funders on Wall Street responded with laxer lending standards and creative loans (no downpayment, teaser rate, interest only, etc.) that really made sense for borrowers only if prices kept going up and they could sell at a profit or refinance. When prices stopped rising last year, the edifice began to crumble...
Although the generals have been adept at political repression, their record on economic management is abysmal. In 1987 a former regime leader demonetized Burma's currency, wiping out the savings of millions, and introduced new bank notes that were divisible by the number 9 simply because he considered the digit auspicious. Things haven't gotten much better since then--even though Burma is blessed with lucrative natural resources like natural gas and timber. Obsessed with its own survival, the junta spends 40% of the nation's annual budget on the 450,000-strong army while 90% of the population lives...
...population lives near or below the poverty line, even though Burma is blessed with lucrative resources like natural gas and timber. The country's generals are hardly known for their financial savvy: one former regime chief denominated bank notes by the number nine simply because he considered the digit auspicious. Obsessed with its survival, the junta has dramatically expanded the military; 40% of the nation's annual budget is believed to be spent on the 450,000-strong army. Inflation is running at more than 30%. Last month's fuel hike led to a tripling of bus fares on some...
...foreclosures skyrocket, a growing number of investors are becoming enamored with the idea of buying up distressed properties, doing a little rehab, and then putting the homes back on the market to turn a tidy, double-digit profit. "We call them wannabe investors," says Rob Munn, who has been buying and selling foreclosures for eight years in Tennessee and Florida. "They watch Flip This House, and think, 'I can do that...