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...Cheap and Deadly...

Author: /time Magazine | Title: The CIA's Silent War in Pakistan | 6/1/2009 | See Source »

...Predator's firepower is limited, but the Reaper can deliver laser-guided 500-lb. bombs like those commonly found on the F-16 jet, together with Hellfire missiles. And the hardware comes relatively cheap. The Reaper costs $10 million--chump change compared with manned fighter aircraft; the cutting-edge F-22 Raptor, for instance, costs nearly $350 million. The drones' relatively low cost is due mainly to the fact that they don't have a pilot--which may also contribute to the Pakistani leadership's tacit acceptance of the CIA campaign. "If we were sending F-16s into FATA--American...

Author: /time Magazine | Title: The CIA's Silent War in Pakistan | 6/1/2009 | See Source »

...Fueled by abundant and cheap gas and the availability of rubber-tire production, the U.S. vehicle market grew to a 16 million-unit-per-year business. This year that number will be under 10 million, which will cause nearly every auto company doing business in the U.S. to show red ink. (See the 50 worst cars of all time...

Author: /time Magazine | Title: GM Prepares for Bankruptcy | 5/27/2009 | See Source »

...seem to apply in Dubai, the most populous of the seven states that comprise the United Arab Emirates. Abu Dhabi, the seat of political power in the UAE, controls most of the country's oil resources. With less oil to tap, Dubai has used low taxes, easy money and cheap Asian labor to transform itself into one of the region's most dynamic economies. The city state developed a kind of signature swagger, expressed most gaudily in the gargantuan real estate projects - an indoor ski slope, man-made islands shaped like palm fronds, the world's tallest building - that have...

Author: /time Magazine | Title: Dubai's Sand Castles | 5/25/2009 | See Source »

Dubai's rise had been decades in the making, but the property market really exploded following a 2003 law change that made it easier for foreigners to own land. With credit cheap and readily available, no income tax, and many more sunshine hours than Britain or Russia, Dubai attracted a new wave of Europeans, who arrived with big hopes and little understanding of Muslim values. In one infamous culture clash, two Britons were imprisoned for having sex on a public beach and insulting police officers after a drunken Friday brunch...

Author: /time Magazine | Title: Dubai's Sand Castles | 5/25/2009 | See Source »

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