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New July 2013

Detroit: Sell the Family Jewels

While the city’s dealing with billions of dollars in debt, there’s no reason the Institute of Arts—housing artworks valued between $452 million and $866 million—shouldn’t be sold.

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Detroit Is Ruled Eligible for Bankruptcy

Judge Steven W. Rhodes’s decision allows the city to search for a way to pay off some of its debts and restore services to tolerable levels under court supervision.

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Economic Expansion Slows Down in Japan

Economic growth in the second quarter fell short of the previous three months’ figure and of analysts’ expectations, possibly threatening plans for shrinking the nation’s soaring debt.

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One Last Derrida Attack

French philosopher Jean-Pierre Faye is trying to stir things up again with a pamphlet against Derrida’s debt to Heidegger.

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Detroit Seeks Bankruptcy, Facing Debts of $18 Billion

The city, the cradle of America’s automobile industry and once the nation’s fourth-most populous, is the largest American city ever to take such a course.

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Perdasdefogu Journal: Celebrating the Elderly With a Nervous Eye on Italy’s Future

With older people in the Mediterranean living longer and longer lives, experts warn that Europe’s debt crisis is exacerbating a growing demographic crisis.

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A.P.C.’s Kanye West Collection Sold Fast; Max Azria Faces Insurmountable Debt

and Alexander Wang gives away free clothes.

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Bill Clinton, Sex Scandal Pioneer

Every politician who’s bitten his lip and asked for a second chance after getting caught with his pants down owes a debt to Clinton, writes Russ Schriefer.

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Call for Exco members to declare their liabilities

<!– google_ad_section_start –> The rapid departure from the Executive Council of Barry Cheung Chun-yuen threw up more questions than answers about how the troubled policymaking body operates. After he quit last month amid police investigations into his failed Hong Kong Mercantile Exchange (HKMEx), many were left wondering if Exco’s rules on declarations of interest by members should be extended beyond assets to cover liabilities. <!– google_ad_section_end –>

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Means-test degree fees, says charity

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University tuition fees in England should be means-tested to allow poorer students to pay less, an education charity has urged.

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Lens Blog: Angelos Tzortzinis’s Photos of Growing Desperation in Greece

In Greece, the perils of a drawn-out debt crisis are imprinted on its younger population — whose unemployment numbers are soaring — who turn to selling their bodies for money and to a dangerous, cheap new street drug for escape.

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A Vulnerable Age: Pension Loans Drive Retirees Into More Debt

Pension advances, federal and state authorities say, are carefully disguised loans that carry interest rates that are often many times higher than those on credit cards.

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We’re Worried About the Wrong Debt Crisis

The Washington Post's Zachary Goldfarb writes that the real debt crisis hurting America is that of underwater mortgages putting a drag on American growth:

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Student Loan Rate Set to Rise, Despite Lack of Support

On Tuesday, student advocacy groups are releasing an issue brief charging that the government should not profit from loans, while more and more students bear a crushing debt burden.

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What the Eurozone Crisis is all About

Anders Aslund at the Peterson Institute is one of the world's leading experts on the collapse of the planned Soviet economy. If there is anybody who understands why socialism must fail, it is he. So please listen when he explains that the Eurozone crisis is a financial crisis, not a crisis of too much welfare, too much public spending, or too much debt:

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The Crazy Way Models Get Paid

Getting paid with clothes instead of cash has sunk many girls deep into debt, reports Misty White Sidell.

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Congress Ready to Start Work on Budget

The work holds little promise of resolving the federal debt or partisan divide, but it will look more like regular business and less like a crisis.

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The University of Debt

A new report released by the New York Federal Reserve reveals total student loan debt is approaching $1 trillion. This figure amounts to a 70% increase in both the number and size of loans per student in the past 8 years.

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CPPCC local delegate Lam Shu-chit sued

<!– google_ad_section_start –> A local delegate to the nation’s top advisory body has been drawn into a 700 million yuan (HK$870 million) legal challenge by his former business partner. Businessman Hsu Ming-chi yesterday filed a writ of summons to the High Court against seven defendants, including Lam Shu-chit, a local delegate to the Chinese People’s Political Consultative Conference. Lam has been hotly tipped to be promoted to the CPPCC standing committee in next month’s annual session. <!– google_ad_section_end –>

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Morocco extradites Chinese suspect in UK killing of Chinese family

<!– google_ad_section_start –> A Chinese businessman appeared in a British court yesterday charged with the killing of a Chinese family after being extradited from Morocco.Du Anxiang, 54, appeared at Northampton Magistrates Court a day after being flown from Casablanca to London. <!– google_ad_section_end –>

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America, Inc. at it’s Finest

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Bren-Books.com, Modern first editions and collectible fiction<

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Chocolate Artisan Truffles by Just Chocolate

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Burberry
New July 2013