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...joblessness situation is that grim, the price of homes is likely to be falling even more sharply than last year and more mortgages are headed under water. Default and foreclose rates are bound to jump higher. Consumer confidence, which is already remarkably bad, will be exacerbated by the number of people out of work and the lack of credit to buy even the most essential items...

Author: /time Magazine | Title: GDP Drop: Not As Bad As Feared, But Worse Is Ahead | 1/30/2009 | See Source »

...town in order to downsize the workforce at a factory. Despite what you might think, it is not a reality show but rather a wish-fulfillment fantasy for our economic times: good old-fashioned American ingenuity will certainly save the day. As a bonus, someone's frosty heart is bound to be thawed in the process by a strapping Minnesowt...

Author: /time Magazine | Title: New in Town, But Same Old Stories | 1/29/2009 | See Source »

Doty isn't immune to anxiety. In the coming weeks, he's set to take a one-week furlough himself. And many of the jobs at his plant are bound for Texas, a state with comparatively relaxed labor laws and weaker unions...

Author: /time Magazine | Title: Caterpillar Layoffs: How They're Playing in Peoria | 1/29/2009 | See Source »

...eight stories, which span the 1970s to the present, are bound by the character of K.K. Harouni, a distinguished landowner who becomes a sort of barometer for the state of the ruling class. In his prime, Harouni is a man of influence, commanding estates and legions of servants. At his death, the household is broken up, the house sold: "Gone, and they the servants would never find another berth like this one, the gravity of the house, the gentleness of the master, the vast damp rooms, the slow lugubrious pace, the order within disorder." That generational shift, the breakdown...

Author: /time Magazine | Title: Life on the Farm | 1/29/2009 | See Source »

...arrived at the boot camp, an 18-year-old boy was ready to leave after months of strenuous training. As part of the camp's tradition, he hugged every one of his fellow patients. "It's certainly an emotional moment for the kids, as they have bound together over the months," says Tao. "And to me, it's especially rewarding to see them step out of here with all the confidence that they deserve...

Author: /time Magazine | Title: Inside China's Fight Against Internet Addiction | 1/28/2009 | See Source »

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