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...Leverage was the mother's milk of Wall Street - and of Main Street - for the past 20 years. Leverage meant debt, specifically the number of dollars you could borrow for every dollar of wealth you had. It meant borrowing other people's money to invest in something you wanted to invest in, or to buy something you wanted to buy. On Wall Street, debt funded investments in pretty much everything a financial firm could bet on, including the toxic mortgage-backed securities that led the way into this crisis. On Main Street, it meant borrowing to buy a house...
...short term, that may be a necessary price to pay to pump life into the economy, but the effects of deleveraging on Wall Street and Main Street still threaten the steepest recession in the U.S. since the early 1980s, when unemployment peaked at 10.8% in 1982. Here's why that's so, and how we can still emerge from this crisis a little bit wiser - and, eventually, a lot more solvent - for our trouble...
...Main Street's Pullback For millions of Americans, the prospect of living within their means is a meaner one by the day. And it has consequences that are already showing in the bankruptcies of retailers such as Linens 'n Things, Mervyns, Steve & Barry's, Shoe Pavilion, Goody's and Sharper Image and in the possibility of poor holiday sales. The overleveraged consumer is the biggest economic problem the country faces, because debt has been the rocket fuel that has propelled growth for most of the past decade. Two-thirds of the $14 trillion U.S. economy is driven by consumer spending...
...small kerfuffle. "Why is the poll dipping where we are now spending much more money on television ads? The other side must be making zillions of dirty phone calls under the radar. Quick, triple our nasty phone calls. And double up on the nasty!" This is the main reason campaigns go negative late in the game--when you see a demon lurking behind every shadow, it is only natural to haul out the big artillery and start blasting away...
Andasibe-Mantadia National Park, 100 sq. mi. (about 260 sq km) of protected forest in a nation that is now more than 90% deforested, is one of Madagascar's main draws. Local guides like Razafindrasolo lead walking tours through the old-growth forest, where energetic sifaka lemurs can be seen in the mornings dancing through the trees. This is one of the main reasons to go all the way to Madagascar--to see endangered species that exist nowhere else. The other reason is that your presence--or, more specifically, your wallet's presence--can help save the last remaining habitats...