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...1980s, after banking laws were relaxed, Japan went on a credit binge that made the modern U.S. look prudent. The stock market took off into the stratosphere, and property prices got so out of control that it was said the land on which the Imperial Palace sat in the center of Tokyo was worth more than the whole of California. Then the bubble burst, banks found that their balance sheets were full of bad loans, and Japan entered a lost decade of stagnant economic growth. Nearly 20 years after its peak in December 1989, when the Nikkei index nearly...

Author: /time Magazine | Title: The Lessons From Japan | 3/12/2009 | See Source »

...education is not interrupted. Case in point: Since September, when second-grader Ty'jhanae Walker moved with her family to a shelter across town from her school, the 7-year-old has ridden a bus an hour each way so she can keep going to Ramsey International Fine Arts Center. Her mother Denise Powe wants her to stick with the K-8 school - which currently has at least 24 other students classified as highly mobile - because she doesn't want Ty'jhanae to fall behind. "Different schools learn at different paces, so I'm really pushing for her to stay...

Author: /time Magazine | Title: Keeping Homeless Kids in School | 3/12/2009 | See Source »

...Wikipedia cannot be held to the same standard as scholarly journals and books. “Since the information on Wikipedia is constantly evolving, it is certainly not always accurate and I continue to caution students against using it,” said Jane Rosenzweig, director of the Writing Center. Hees said that Wikipedia has developed many strategies to ensure quality control, and that the Web site is looking to implement a new feature that would inform visitors which articles had been checked in order to resolve some of the site’s reliability problems...

Author: By Margherita Pignatelli, CRIMSON STAFF WRITER | Title: Wiki Articles To Take Book Form | 3/11/2009 | See Source »

...center of the country's restaurant scene is Sjávarkjallarinn (Seafood Cellar). Housed in the capital Reykjavík's oldest underground storeroom, which served as a stable in the late 18th century, the restaurant is known for its fusion of Asian flavors (think kaffir lime, star anise and yuzu) with fresh Icelandic fish, served within hours of being caught. The menu changes twice a month and recently included enticing entrées like a blue lingcod seasoned with red ginger, wasabi and shiso (a minty herb), and crispy salmon with soybeans, saffron and parsley. Other dishes, like...

Author: /time Magazine | Title: Reykjavík's Best Cellar | 3/11/2009 | See Source »

...questions about the alleged cover-up, while party leader Mariano Rajoy went so far as to suggest that a key piece of physical evidence - a backpack loaded with explosives - may have been planted in order to lend credence to the Islamist theory. These doubts were fanned by the center-right newspaper El Mundo, and Catholic radio station COPE into a full-fledged conspiracy campaign. Yet even after the country's national court found absolutely no connection between ETA and the Madrid attacks, Rajoy said that his party would "continue to support" any further investigation. The Socialists, in turn, responded...

Author: /time Magazine | Title: Five Years After the Madrid Bombings | 3/11/2009 | See Source »

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