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...drop on record, after March's $16.6 billion decline. Numbers from April show that people are now saving 5.7% of their disposable income, the highest rate in 14 years. Second, people are shirking their obligations. According to the Mortgage Bankers Association, one in eight U.S. mortgages is now in either delinquency or default. Banks are figuring that nearly 10% of the money they're owed from credit cards is money they'll never see. "People were consuming more than their income, and that gave a big boost to the U.S. economy," says Kevin Lansing, a senior economist at the Federal...

Author: /time Magazine | Title: A Drag on the Economic Rebound: Consumer Spending | 6/10/2009 | See Source »

...Autopsy reports and forensic investigations have confirmed that Aasiya and Nilofar, who was pregnant, were both raped, but authorities have not yet confirmed that either woman was murdered. A special police team has been assigned to the investigation. So far, no charges have been made, but chief minister of Indian-administered-Kashmir Omar Abdullah has said the government is committed to finding the perpetrators of the violent crime. "Nilofar and Aasiya were like my sisters and I, as brother, feel the pain of the tragedy that has befallen the victim family," Omar said. He pledged not to rest till...

Author: /time Magazine | Title: A Violent Crime Resurrects Kashmir's Call for Freedom | 6/10/2009 | See Source »

...with contenders. "The strongest field across the board I've seen, at least in the years we've been going to the IRAs," Harvard coach Harry Parker called it.Pacific-10 conference rivals Cal, Stanford, and Washington represented the heavyweight favorites, but defending champion Wisconsin was not to be forgotten either. And of course, the Ancient Eight, led by Harvard and Brown, intended to make its presence felt.The only team to enter all of the regatta’s events, the Crimson’s best showing came in the freshmen division, where its rookies proved undeterred by their cross-country...

Author: By Dennis J. Zheng, CRIMSON STAFF WRITER | Title: Freshmen Heavyweights Pace Crimson at IRAs | 6/9/2009 | See Source »

...mile-long reservoir in Glen Canyon National Recreation Area, spans the border of Utah and Arizona and offers fishing, beaches and dramatic views of the red rocks. The major activity here, of course, is boating. The Great Lake Powell Water Adventure gets you two nights' lodging for two (either at a hotel or an RV/campground), breakfast and full-day use of a 19-foot power boat to explore canyons and alcoves. Rates start at $515 for two nights, through October 31. If you'd prefer to leave the skippering to someone else, try the Rainbow Bridge Centennial Excursion, which includes...

Author: /time Magazine | Title: Quintessential Summer: 8 Outdoor Getaways | 6/9/2009 | See Source »

...recent opinion polls - would nonetheless fall six seats short of a majority in any general election with the genial Johnson as Labour's P.M. With Brown still at the helm, the Tories would romp home 74 seats to the good. More evidence of that nature - or defeat in either of the two tricky by-elections Labour faces in the coming months, following the resignation of a pair of its own MPs - could yet prompt dissenters to push for a new leader in the fall. With Brown, says Neil Stewart, once political secretary to former Labour leader Neil Kinnock, "that connection...

Author: /time Magazine | Title: Britain's Brown Keeps Job, But Problems Remain | 6/9/2009 | See Source »

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