Word: sourfulness
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...truth probably lies in a mix of these factors, plus one more: the steep rise in the number of Americans in prison. As local, state and federal governments face an era of diminished resources, they will need a better understanding of how and why crime rates tumbled. A sour economy need not mean a return to lawless streets, but continued success in fighting crime will require more brains, especially in those neighborhoods where violence is still rampant and public safety is a tattered dream...
...option ARMs won't be as jarring to real estate because the system is numb to the pain. When problems first arose in subprime, homeowners and financiers alike were caught off guard. But since those early days of the real estate crisis, all sorts of loans have gone sour in large numbers, including plain-vanilla 30-year fixed rates. "Option ARMs don't have the monopoly on poor performance," says Amherst senior managing director Laurie Goodman. "It permeates the market." When the resets come, we'll feel it - but it won't be anything we haven't felt before...
...early 1990s. That too was an era of deep divisions and wildly swinging opinion polls: Obama's recent roller-coaster ride is nothing compared with the 50-point plunge in George H.W. Bush's ratings as he approached his re-election campaign. Then, as now, the culprit was a sour economy, but the voice of indignation came not from TV ranters but from a Dallas billionaire. H. Ross Perot catalyzed an anti-incumbent, back-to-basics, pox-on-Washington movement that is the spiritual ancestor of today's Tea Parties - right down to the hand-painted placards and the occasional...
...economic crisis are beginning to bite. The country slipped into recession last year and is now facing its worst economic contraction since 1987 - the last time Greece was forced to implement austerity measures following a previous round of government overspending. And across the country, the mood has started to sour: shops are closing and restaurants are half-empty. Many Greeks even say they'll cut back on going out to cafés - a pastime so central to the culture that it's akin to Americans saying they would give up television. More ominously, though...
...year and a half leading up to the financial crisis and since, according to a TIME analysis of Securities Exchange Commission filings and bankruptcy-court documents. That's nearly double the $18 billion in common equity the firm had in late 2006, just before mortgage bonds started going sour in the beginning stages of the financial crisis; it was more than enough to wipe the firm...