Word: annualized
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...mobility that the few who could afford them once proudly purchased with cash. The country's central bank estimates that the amount of personal loans held by Indians nearly doubled from 2005 to 2007, to $106 billion; the country's credit-card industry has been growing at an average annual rate of nearly 30%. "There was an environment that was building up irrational exuberance," says Alam Srinivas, author of The Indian Consumer. "No one thought that anything could go wrong. The party never seemed...
...comes the hangover as the middle class gets squeezed by soaring living costs - India's annual inflation rate is running at about 13% - and more expensive debt. Navtej Singh, a 48-year-old property agent in the northern state of Haryana, was horrified last month when the interest rate he pays on a $15,000 adjustable-rate home loan jumped from 9% to 12%. "There's no way I can [pay] that," he says. "I'll probably have to borrow from friends or relatives and curtail household expenses." Srinivas says a lot of people are in similar straits...
...developing world, and 1.7 million people died from it. More alarming is a growing subset of TB cases, estimated at half a million, that are resistant to more than one of the handful of anti-TB drugs. While they still make up only 5% of the total annual TB burden, these cases of multidrug-resistant and extensively drug-resistant TB are mushrooming, fueled by the surge in AIDS and by health-care systems that have ignored the threat of TB for too long...
...space beneath the ice with all those oil deposits. Gas is less profitable than oil and much harder to move to market. The majors could afford to wait until the economics of gas were more favorable before embarking on a multibillion-dollar pipeline project. But many Alaskans, accustomed to annual oil royalties, didn't want to wait on gas any longer. Nor did they want the Big Three to own the gas pipeline the way the majors owned the oil pipeline--or rig the tax bills they paid the state as the price of doing business there...
...with Election Day about a month away, the battle for Colorado is fiercer than the annual Buffaloes vs. Rams college-football showdown. Barack Obama recently passed through on his ninth visit, while John McCain has made 10 stops of his own. Sarah Palin swung through twice in just her first two weeks on the GOP ticket. And Coloradans can't turn on Dancing with the Stars without seeing the campaigns' dueling ads on energy and the economy...