Word: riche
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Dates: during 1980-1989
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...Some tenants gain, but only those who can afford to purchase a $100,000 unit. Those who can't will have a harder time finding an apartment, as owners who want to sell their rent-controlled units at a high price will have increased incentives to rent to the rich. The situation would largely revert to the ominous pre-1979 trends...
...billion. "I hate bodyguards," she apologizes, as she escorts a visitor into the elegance of her Louis XVI salon in a duplex apartment on the uppermost floors. "I hired them only after some people tried to kidnap my teenage grandson two years ago." The physical risks of being rich keep rising in Argentina, as they do in any of the debt-strapped, inflation-ridden countries of Latin America. But the rich keep getting richer...
Every country has its rich and poor, but in Latin America the gap between them is especially vast and is growing worse. The richest 20% of families enjoy a more extravagant life-style than that of the upper class in such industrialized countries as the U.S. and Japan. On the other side is an enormous group, 60% to 80% of the population, whose situation is approaching the despair of sub-Saharan Africa or Bangladesh. Of Argentina's 32 million citizens, close to 10 million are below the poverty line (a family income of less than $100 a month...
...triggered inflation and stagnation in the 1980s, most Latin American families began sliding rapidly into hardship. This year Mexico's annual inflation rate is running at 17% (down from 52% last year), Argentina's, 3,500% (up from 388%) and Brazil's, 1,600% (up from 934%). Perversely, the rich have helped perpetuate the economic malaise by such tactics as sending their money to safe havens abroad and dodging taxes that could help ease domestic deficits...
...rich have special problems procuring crack. They often have to make their buys in unfamiliar (and unsavory) neighborhoods, where they are prey to all kinds of rip-offs. Street crack is contaminated with an astonishing variety of chemicals, from amphetamines and meat tenderizers to pesticides. To make sure they are not being poisoned, some users are going back to a process popular years ago. They buy cocaine and convert it into a purer form of crack at home. This dangerous process, called free-basing, involves combining cocaine with baking soda and cooking the mixture. The latest trend among well...