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The 10 US states getting slammed by the European collapse

The Milken Institute published a report this week examining the effects of the euro crisis on individual US states based on which ones send the most exports to the EU as a share of their total exports and GDP.

IMF chief sees big boost to lending organization on the horizon

International Monetary Fund (IMF) head Christine Lagarde said Thursday that she expects the lending organization to get a large financial boost by donors to help stem the eurozone crisis.

Bernanke defends the role of the Fed in recovery

Ben Bernanke, Federal Reserve Chairman, defended his record during the economic crisis and highlighted the importance of regulating the economy to ensure stability in a speech.

Welcome to Bangkok: The fast-food makeover of Thailand's sex industry

Economic crisis, and changing consumer tastes, have altered a key part of Bangkok's booming sex industry.
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Thai bar girls dance at a go-go bar in Bangkok's red-light district of Patpong on December 3, 2008. (Christophe Archambault/AFP/Getty Images)

BANGKOK — Let me start by stressing it’s not a good idea to describe your profession as a “freelancer” in Thailand.

It doesn't matter if you're a writer, photographer or a graphic designer.

In Bangkok, freelancer is a term generally reserved for a prostitute who isn’t affiliated with a bar.

Using that same logic, “looking for freelancers” might get you more than you bargained for.

Unless, naturally, you are in Thailand for that kind of thing. That would be you and about a million other men.

After all, Bangkok hasn’t become the sex capital of the world because they make fantastic green curry. (And it truly is fantastic!)

It’s become the hot spot for sex tourism because of its liberal attitude toward “compensated dating.”

Yes, it is dating in a very broad sense of the word, but it isn’t just about the sex.

Being in Bangkok for the first time — and still full of preconceived stereotypes — I am consistently surprised how much of what happens in the sex scene here is hardly about sex.

It used to be that lonely men from the West traveled to Thailand for a few weeks at a time and hired a “freelancer” here, think companion, for their entire holiday.

This girl would become their “girlfriend” for a limited time and would get added benefits of being taken along on holidays and shopping trips, sometimes year after year.

While these sort of arrangements still happen, Bangkok’s sex scene has become largely the fast-food version of itself.

The competition is huge and the girls who work in bars must accrue a set number of customers each month or they get penalized.

Meanwhile, the economic crisis of the last few years has sent many of them to the street, trying their luck as “ street freelancers.”

But with the “Hangover Part II” crowd that tends to frequent Bangkok these days, it has become increasingly harder to find customers willing to pay for a whole night, let alone a week or month.

So freelancers have come up with new rules to cope with today’s fast-paced environment that their mothers‘ generation of companions hardly had to deal with.

Take, for example, the gruesome and competitive practice of “per session” pricing.

A British man I’ll call Jack learned this rule the hard way and he was quite surprised how the Thai sex operation works.

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Italians react to the news that Prime Minister Silvio Berlusconi will step down.

Europe: Some good economic news at the edges

Britain and Ireland show improved trade figures
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Jason Riddle, co-founder of 'Save Our Savers' lifts a giant papier mache piggy bank outside the Bank of England in London on October 6, 2011. The Bank of England agreed to inject $116 billion into the British economy on Oct. 6, 2011. (Adrian Dennis/AFP/Getty Images)

It's not all doom and gloom:

1. The UK's trade deficit has unexpectedly narrowed according to data released today. Figures for August showed the deficit was down to £7.8 ($12.8 billion). Economists had expected that figure to be £8.8.

The reason is partly a new method for computing the trade figures but also a rise in exports of fuel, food and drinks. (It can't be the beer that is selling so well overseas.  Presumably Scotch is being exported in large quantities to the continent. Despite the euro zone crisis, the single currency has gained value against the pound. So a bottle of whiskey is nowhere near as expensive as it was a few years ago.  I suppose people on the continent need a stiff drink to help them cope with the Greek situation and their overall economic slowdown.)

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