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There are 160 countries on the United Nations' annual development index, a measure of comparative economic and political progress: 32 of the lowest 40 are in Africa. Between 1960 and 1989, Africa's share of the world's gross national product dropped from 1.9% to 1.2%. Since 1980, sub-Saharan Africa's external debt has tripled to about $174 billion...
...dollar was stumbling, the Japanese stock market was practically falling on its face. The Nikkei Index dropped to 14,309, its lowest level since 1986, forcing the government to take action. The Finance Ministry announced new rules to discourage banks from dumping shares, which brought at least a temporary recovery. But critics said long-promised government spending programs are needed to make the recovery permanent...
...paradise is in trouble. "Forever, or so it seems," says sociologist Mark Baldassare, who has studied Orange County for 10 years, "this place was on the steepest of upward curves. But today, with every index down, the people who thought they were immune to recessions, the Republican white collar workers, have been caught. Bush will likely carry the county again, but if he doesn't get a 300,000-vote plurality here, there's no way he'll take California." And that, says Representative Robert Dornan, one of the county's five Congressmen, "is iffy at best, unless there...
...they're not that stuck. We tried the other formula not so many years ago -- a Democratic President and a Democratic Congress -- and out we came with a misery index, unemployment and inflation, the highest it's been in modern times. That formula has been tried. The other one has not been tried, and I would like to see that...
Shattuck said Harvard administrators budgeted for a union pay increase "substantially above the rate of inflation," which he said is about 2.8 percent a year, measured by the consumer price index in the Boston area. He said Harvard and the union have agreed not to discuss specific wage proposals with the press...