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Middle-development countries achieved a slightly lower growth rate, 1.9% a year, but seven out of 34 countries experienced outright declines in living standards.
ECONOMIST: By invitation
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In addition, the sharp deceleration in home prices since 2005, including outright declines in some markets, left many of these more-recent borrowers with little or no home equity.
NPR: Transcript: Bernanke on Mortgages, Foreclosures
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Because of the decline in housing demand, the pace of house-price appreciation has slowed markedly, with some markets experiencing outright price declines.
NPR: Bernanke: U.S. Growth 'Moderate' as Inflation Rises
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But, as the number of smokers inexorably declines, disapproval has turned into intolerance, persuasion into outright bullying.
ECONOMIST: Rout of the new evil empire