In Brief

By Eric Roston

DEBT AGAIN The government last week reported that the July savings rate fell to a record low: -0.2% of disposable income. That means we're continuing to spend more than we make, a disturbing trend to economists but a boost to debt-counseling organizations like Myvesta.org named for the Roman goddess of the hearth. Also reachable by the less classical name savemyass.com

FLATLINERS In investing, you can't even count on death. With age-adjusted death rates slipping in the past few years, the stocks of funeral homes and cemeteries are looking terminal. Death-care stocks like Service Corp. International and the struggling Loewen Group boomed through the mid-'90s as the industry consolidated and the population aged--seemingly offering a guaranteed market. But debt soared with acquisition costs just as the number of funerals was falling, a tragic combination.

WHAT COLLAPSE? The Russian economy might not seem the safest bet--and it isn't. But for those with strong stomachs and extra cash, emerging-market debt funds brought a return on their rubles. Despite the '94 Mexican crisis, '97 Asian collapse, '98 Russian default and '99 Brazilian crash, these funds have returned more than 9.5% annually since 1994. Not great, but as emerging economies stabilize, their prospects for better-than-average returns improve.

--By Eric Roston