Word: stockings
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...Ahmad Mustapha, a 48-year-old banker, boarded a bus in Kuala Lumpur with his wife and two children to visit his parents, all he could think about was what might happen to him and to his country when he returned to work. After Wall Street's U.S. stock swoon on Sept. 29 and Washington's inability to pass the $700 billion package to rescue the U.S. financial system, Mustapha is waking up to the potential dangers the region faces from a collapsing American economy. "The U.S. is such a giant and we are so intimately connected with...
...worst-case scenario: a repeat of the Asian crisis of a decade ago, when regional economies and governments were convulsed by devastating recession. That prospect still seems remote. Growth in Asia has remained relatively robust in 2008 and financial sectors sound. But Asian stock markets, most of which have plummeted by 30% or more this year, are signaling harder times ahead. Falling export growth and tighter credit are already beginning to pinch. Merrill Lynch expects GDP growth in Asia (excluding Japan) of 7.7% this year, the slowest pace since 2003. Next year could be worse if the U.S. enters...
...ordinary folk watch their personal wealth evaporate. In China, the property sector accounts for 10% of national employment. Analysts believe that Beijing cannot afford a major collapse in the property market and will step in to aid developers and home buyers. Beijing already lent a hand to the faltering stock market in September by waiving taxes on some stock transactions to stimulate trading and ordering state agencies to buy up shares...
...took out an adjustable-rate loan two years ago to buy an investment property near Bangalore, but his monthly payments have jumped because of tighter credit and rising interest rates. He has abandoned plans to get an M.B.A. because student loans are now too costly. The couple's stock portfolio has lost more than half its value since markets began melting down. "I feel scared, actually," Rege says of his crumbling finances. "You're sure for right now. But if things don't stabilize, then what...
...Remarkably, Fingleton, a raconteur of Irish stock, found fault not only with Bradman the man but with Bradman the cricketer - quite a feat considering The Don's record, which marks him as easily the best ever. Fingleton claimed that in a lead-up match to the Bodyline series of 1932-33, Bradman, suspecting he was to be the target of short-pitched bowling from England's fast men, beseeched the rookie Fingleton to shelter him when the pair were batting together. "These blighters are after me," Bradman is alleged to have said. "They intend to bowl at my head. Will...