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...global financial system. "We all need to be a lot more alarmed" by the trade spat, says Michael Pettis, professor of finance at Peking University. "Rising anger makes it more difficult to cooperate." At a crucial moment for the economy, that's something the world can ill afford...
Owing to budget crises, many states are now having trouble affording to keep so many people locked up. Some states are cutting incarceration expenses by consolidating prisons; some are trying to slash prison-food and health-care costs. But real savings come only when you reduce prison populations, and so some states - including California, Colorado and Kentucky - have begun releasing inmates early. "The pressure in state legislatures all over the country is to bring down the populations, because we just can't afford the level of punishment that we've had the last 20 years," says Joan Petersilia, a criminologist...
...recent call for a "more equal" relationship with Washington raised concerns that the DPJ might tinker with sensitive issues like the relocation of American military bases in Japan, affecting the two nations' longstanding security pact. But DPJ leaders, who have little experience in international diplomacy, know they can't afford to upset the alliance, the cornerstone of Japanese foreign policy...
...related but deeper fear is that Iran has the means to make life exceedingly unpleasant for Pakistan should it side with Tehran's enemies. Already struggling with a militant campaign that has ravaged the northwest and the tribal areas and terrorized major cities, Pakistan, analysts say, can ill-afford a revival of sectarian violence that plagued the country during the 1980s, when Saudi-backed Sunni militant groups clashed with Iranian-backed Shi'ite ones as part of a regional proxy war. Says Ayesha Siddiqa, an independent security analyst: "It isn't just Iraq, Lebanon and Afghanistan where Iran can create...
...berhip Confederacy in Los Angeles?where customers sip Gimme Coffee that the owners imported from Brooklyn because they miss New York?the economic crunch has only made the selection more special. "Instead of skimping by selling guys T shirts and jeans because that's what they can afford, we sell what excites people," says Ilaria Urbinati, a celebrity stylist, who buys for the store with partner Danny Masterson, an actor...