Word: april
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Americans relied less on borrowed money in April than they did in March-a sign that the pullback on debt-fueled spending continued into the spring. New data from the Federal Reserve shows that outstanding consumer credit which includes credit cards, auto loans and tuition financing, but not mortgages, fell by $15.7 billion to $2.52 trillion, an annualized drop of 7.4%. That marks the second-largest dollar drop on record, following March's $16.6 billion decline...
Americans are spending less; no surprise there. Figures out this week from the Commerce Department's Bureau of Economic Analysis show that in April overall consumer spending was down 0.1% from the month before. People are now saving 5.7% of their disposable income, the most since 1995 and a cosmic increase from the zero-savings days of just a few years...
...full-sized, full-featured notebook computers - albeit with higher prices. At Computex, Taiwan-based Acer is showing off its $499 Aspire One 751h netbook, which features an 11.6-in. screen and a standard-sized keyboard. Campbell Kan, Acer's VP of Mobile Computing, says the device, which debuted in April, is selling particularly well in Europe, where telecommunications companies are selling the Aspire One for one euro to customers who sign two-year contracts for 3G service. "We can't deliver enough to meet demand," Kan says. (See 3 netbooks worth owning...
...shift hasn't happened. At the end of May, just over 7% of the nation's workforce was employed in the financial-services business, unchanged from December 2007, when the downturn started. In all, the government said the economy lost 345,000 jobs in May - a significant improvement from April, when employment fell by just over 500,000. The banking and insurance businesses, though, accounted for only about 5% of May's losses, or 19,500 jobs...
...world into a better place, where people will stop waging war - every war is absurd and meaningless; where people will stop hating one another; where people will hate the otherness of the other rather than respect it. But the world hasn't learned. When I was liberated in 1945, April 11, by the American army, somehow many of us were convinced that at least one lesson will have been learned - that never again will there be war; that hatred is not an option, that racism is stupid; and the will to conquer other people's minds or territories or aspirations...