Dire times evoke pessimism in a world at risk
AP reporters detail a mood of fear and decay as levees fail, prices rise, and wars persist. Polls show record low confidence while disasters, both natural and man made, frame a restless public. Katrina’s aftereffects haunt New Orleans as global shortages ripple through food and energy costs.
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National mood shifts as crises echo historic eras
Analysis notes that price hikes, power outages, drought water warnings, a weak dollar, airline fees, a writers strike, and shifting media habits mirror past famines. Allan J. Lichtman argues the U S has endured stagflation and crises before, with renewed confidence following tough periods, though he cautions it may not recur.
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Allan J. Lichtman
United States
Iran
Last chance housing bill as Bush weighs veto
Washington lawmakers race a housing rescue accord seen as the last major effort before recess. The measure would let the FHA insure 300 billion dollars in new loans for refinancings while a new regulator would oversee Fannie Mae and Freddie Mac. Senate action looms after Treasury efforts to broker a deal.
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Freddie Mac
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Henry M. Paulson
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