(unemploymentality.com)
"Worst Is Yet to Come:" Americans' Standard of Living Permanently Changed
Aaron Task (2/17/09)
Aaron Task (2/17/09)
There's no question the American consumer is hurting in the face of a burst housing bubble, financial market meltdown and rising unemployment.
But "the worst is yet to come," according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American's standard of living is undergoing a "permanent change" - and not for the better as a result of:
- An $8 trillion negative wealth effect from declining home values.
- A $10 trillion negative wealth effect from weakened capital markets.
- A $14 trillion consumer debt load amid "exploding unemployment", leading to "exploding bankruptcies."
"The average American used to be able to borrow to buy a home, send their kids to a good school [and] buy a car," Davidowitz says. "A lot of that is gone." More>>
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Instructor Renu Kansal leads students in practicing Bollywood dance steps in south Denver on 2/17/09. Drawn to the lavish dance numbers in films from India, or just bored with their gym workouts, people are flocking to Bollywood-style classes that mix traditional Indian folk dances with hip-hop moves. And the U.S. exercise industry is taking notice (AP/David Zalubowski).
DENVER – Drawn to the lavish dance numbers in films from India, or just bored with their gym workouts, people are flocking to Bollywood-style dance classes that mix traditional Indian folk dances with hip-hop moves. And the U.S. exercise industry is taking notice.
Long enjoyed by young people of Indian descent, and common in big cities on the coasts, Bollywood-style classes are popping up in regions of the country where Indian cinema is new and there aren't as many people of Indian descent.
Fans of Bollywood — an informal term for Hindi-language films, often romantic musicals — want formal instruction in the style marked by foot-stomping dance numbers that put folk moves and hip swings to pop beats. More>>
Unemploymentality: Fun Survival Tips
B.A. Stuart
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