Word: basic
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Dates: during 2000-2009
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...would all be rosy were it not for the 15 million to 18 million people--more than half the population--living in dire poverty, with 12.5 million of them unable to afford the most basic needs. These men and women, almost all subsistence or small-plot cash-crop farmers, have been structurally adjusted half to death. Though Adams points to progress--51% of Tanzanians now survive on $1 a day or less, down from 65% in the mid-1980s--his statistic makes Tanzanian analysts laugh bitterly, because it misses the fact that everything in a farmer's life costs more...
With Tanzania's debt from IMF, World Bank and other loans now at $6.4 billion, the government has been spending 40% of its annual revenue on interest payments--more than it spends on health and education combined. Even the poorest families are subjected to "cost sharing"--paying fees for basic health care and even elementary school. In response, 70% of the people consult faith healers (this in a country with an HIV epidemic), and school enrollment has fallen from 93% in 1993 to 66% today. "The data are very clear," says I.F. Shao, director of the Institute of Development Studies...
...June? Well, yes. To a degree anyway. And given discouraging news on inflation last Friday--the CPI has been rising at a 5.8% annual clip this year, the government reported--don't look for Greenspan to stop boosting rates soon. The ominous prospect of more rate increases, along with basic valuation questions, sent both the NASDAQ and the Dow average on another wild ride...
...prices. Consider: many days this year, the Dow has been up when the NASDAQ was down, and vice versa. In the past 30 days, a tech-only portfolio might easily have lost 30% to 50% of its value. Yet if that portfolio had included bank stocks, plus some basic industry and consumer-goods companies, it would have been a relatively stable collection of stocks overall...
...pampered pooches stay in a three-bedroom Bed and Biscuit Inn, complete with windows, kitchen and a family room with TV. There are five beds in each room, and, for an extra charge, a "Bed Buddy" from the staff will stay overnight with dogs accustomed to sleeping with humans. Basic boarding is $45 a day; with behavior and obedience classes, the weekly fee is $500. (Telephone...