Word: rosee
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...case of households, debt rose from about 50% of GDP in 1980 to a peak of 100% in 2006. In other words, households now owe as much as the entire U.S. economy can produce in a year. Much of the increase in debt was used to invest in real estate. The result was a bubble; at its peak, average U.S. house prices were rising at 20% a year. Then - as bubbles always do - it burst. The S&P Case-Shiller index of house prices in 20 cities has been falling since February 2007. And the decline is accelerating. In June...
...India's middle class of about 90 million people, some 20-30 million have taken on more debt than they can handle, he estimates. Rising rates of loan defaults appear to back up the claim. For example, nonperforming assets at ICICI Bank, India's largest private lender, rose to 1.8% of total assets in the quarter ending in June, compared with 1.35% a year earlier...
...Masters, who before his election last year had been one of the city's most visible community leaders, said parents of children who dropped their pants were among the most avid supporters of the ban. City spokeswoman Rose Anne Brown admits she wasn't among them. Legislating morality doesn't make sense, she said, though she acknowledges the law could work and wishes she "had a dollar for every time we made Torrey [her youngest son, now 25] pull his pants up when he was growing...
...crackdown on sagging not only has strained relations between young black men and law enforcement but it could also have a significant economic impact on inner-city residents struggling financially, says Tricia Rose, a professor at Brown University's Department of Africana Studies and the author of the forthcoming book The Hip Hop Wars: What We Talk About When We Talk About Hip Hop - And Why It Matters. The average median household income in Riviera Beach is about $10,000 lower than that in the rest of the country, and the city's per capita violent-crime rate is higher...
...Rose sees a class dimension to the crackdown; most cities that have pondered or passed saggy-pants laws are led by black politicians. "A lot of this is [about] class and the anxiety that this young black population ... is going to stigmatize the black middle class," Rose argues. And, she adds, young people will continue to adopt dress codes that get a rise out of adults and that reflect class alienation...