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Sudden illness may be what scares most people, but chronic conditions place the greatest strain on health care. Around 75% of the U.S.'s $2 trillion annual health-care expenditure goes toward ailments such as heart disease, asthma, diabetes and certain cancers, and the vast majority of that is spent when these conditions require hospitalization and emergency care. The problem is particularly acute in the U.S. public sector: over 20% of U.S. Medicare patients have five or more chronic illnesses...
Parkus concurred that the stress tests probably went too light on potential losses. He expects that a little over $1 trillion in commercial real estate loans will be up for refinancing in the next four years. Because of falling real estate prices and lower rental incomes, he said, as many as two-thirds of those loans may not be eligible for refinancing and could end in default...
...answer is roughly 1 in 1.56 trillion, and on May 23, Patricia Demauro, a New Jersey grandmother, beat those odds at Atlantic City's Borgata Hotel Casino and Spa. Demauro's 154-roll lucky streak, which lasted four hours and 18 minutes, broke the world records for the longest craps roll and the most successive dice rolls without "sevening out." According to Stanford University statistics professor Thomas Cover, the chances of that happening are smaller than getting struck by lightning (one in a million), being hit by an errant ball at a baseball game (one in 1.5 million) or winning...
...worth businessmen have been hit by the current global financial crisis. But there is no doubt that the macroeconomic picture is solid and healthy. Over the next five years Saudi Arabia has outlined a $400 billion spending program. In a decade or thereabouts, Saudi Arabia will become a $1 trillion economy and will be better placed than the rest in the region to capitalize on its knowledge and strengths. During the boom years, some critics said Saudi Arabia should become more like Dubai. Now the rest of the region might want to become a bit more like Saudi Arabia...
...presented, the Obama budget formula is a work of art, if the goal is to slyly practice the very sort of dissembling politics that Obama ran against. The middle class is promised both a trillion-dollar avalanche of appealing new spending and, in the President's words, a "tax cut - for 95% of working families." Call it the audacity of sophistry. If, as the President claims, his election was a mandate for a larger public sector, then would not the honest and responsible move be to ask everybody to pay at least a little bit more? Is a taxpayer making...