Word: weakest
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...person who first said that a chain is only as strong as its weakest link has never lifted a V8 out of a Ford Mustang. But, the analogy works in most cases and now, as much as ever in the last year, it gets to be tested in the stock market...
...almost certain that some of the weakest nations in the world will be destroyed by the current economic calamity. It is astonishing that no one in the developed countries has had the courage to speak this truth. That would at least give those countries, likely not to survive, the knowledge that no help is coming. At least, then, they could desperately try find an alternative to outside...
...Cleveland Plain Dealer is in one of the economically weakest markets in the country. Its parent, Advance Publications, has already threatened to close its paper in Newark. Employees gave up enough in terms of concessions to keep the paper open. Advance, owned by the Newhouse family, is carrying the burden of its paper plus Condé Nast, its magazine group, which is losing advertising revenue. The Plain Dealer will be shut or go digital by the end of next year...
What's changed? The economy. Subprime loans were written to the weakest borrowers, so they stumbled first, especially since many were set-up with an interest-rate spike after two or three years. In January, nearly 40% of all subprime loans were either behind on payments or in foreclosure. Now, though, with companies cutting back work hours and unemployment hitting 7.6%, borrowers of all stripes are running into trouble. "Originally, the loan product was driving a lot of the delinquencies," says Steve Berg, managing director of loan-tracker LPS Applied Analytics. "Now you have widespread house-price deterioration and people...
...weakest part of the market has become gangrenous. Unless it is removed, this infection will continue to spread to the rest of the body. Housing prices have to get to the bottom as fast as possible in order for buyers to enter the market of their own accord. In a economically rational market, people can then have the opportunity to own homes that they can actually afford...