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...possible only if the U.S. drops its plans to expand its missile-defense shield into Eastern Europe. The U.S. argues that such defenses, including installations in Poland and the Czech Republic, are necessary to protect the West from a possible missile strike by Iran. The Russians don't buy that. The shield, it thinks, is designed to give the U.S. an edge against Russia. "We don't believe that any plans for [missile defense] have anything to do with the 'Iranian threat,'" Sergei Ryabkov, Russia's Deputy Foreign Minister, told TIME recently. "For us ... it relates directly...
With local economies flailing, communities across the U.S. are trying to drum up more action on Main Street. "Buy Local" campaigns are one way to go. But many towns--from Ojai, Calif., to Greensboro, N.C.--are considering going a step further and printing money that can only be spent locally...
...games on everything from Alzheimer's disease to driving skills - there is little existing evidence that gaming, which is widely dismissed as an elaborate form of mind rot, really holds any potential to slow the effects of aging. "I think it is silly for someone to run out and buy a game with the hope that it is going to help them age better. There is no proof that it is going to be effective," says Columbia University neuropsychologist Yaakov Stern, who specializes in cognition in older adults and is conducting a video-game study of his own. "We know...
...What if we took out all the traders who had nothing to do with the oil market? That would leave oil suppliers and oil hedgers: those trying to sell oil and those trying to buy oil, respectively. Suppliers benefit from higher prices and so would not be willing to sell. Hedgers, afraid of soaring prices, would buy oil futures, driving the price to unheard-of levels. Worse still, we would have to worry about the oil suppliers themselves getting in on the futures-price action. They can afford to take on huge risks in the oil-futures market because they...
...speculators affect the market in both directions, commercial participants tend to put upward pressure on prices. If airlines fully hedged themselves in the futures market, the price of oil would jump enormously. The futures market cannot support hedging for energy, let alone for other things; for example, investors might buy oil to hedge against losses in other investments, like stocks. With speculators out of the market, an airline's hedge would have an even bigger impact, further raising the global price...