Word: havener
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...TIME: Do you think its possible we just haven't gone far enough into this recession to see its full ramifications...
...reason for the relative lack of panic so far is that Dubai real estate remains a financial haven for wealthy individuals from less stable countries like Iran and Pakistan. What's more, Dubai's property sector is dominated by a handful of companies--collectively dubbed Dubai Inc.--that are directly or indirectly owned and controlled by the government. Some argue that Dubai's authorities could thus avert a bubble burst by keeping finished projects off-line until conditions improve. Also, in the event of a systemic threat, Dubai can probably rely on superrich Abu Dhabi for a bailout...
...their biweekly newspaper, Spare Change News, may soon close. We must do what we can to save and preserve Spare Change as a forum for homeless concerns, and a voice “for those who had been voiceless.” In many ways, Harvard Square is a haven for the homeless. Harvard Square Homeless Shelter (HSHS), the only entirely student-run shelter in America, has provided beds, food, and social programs—including health services, jobs, and permanent housing—to homeless people for over 25 years. While this aid is admirable, Spare Change...
...social causes he had never cared much about and boasted of his support for the agenda of a President he had once famously loathed. McCain played down the risk he was running. "I've already been accused of changing," McCain told me at the start of his campaign. "I haven't. I'm the same. Everything will be the same...
SOUTH KOREA Drop in currency value since a year ago: 30% For South Koreans, the current economic meltdown has a sickening familiarity. During the 1997 Asian financial crisis, the South Korean won lost 52% of its value against the dollar. Things haven't gotten that bad yet in 2008, but there are still plenty of sudden bargains in the Land of Morning Calm, long an unjustly ignored travel destination. Bewildering Seoul boasts dramatic mountains, spicy street food and gorgeous royal palaces. Beyond the capital - where almost half the country lives - South Korea has arty port cities like Busan and cultural...