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Scientists are pretty sure by now that an asteroid or comet ended the 135 million-year reign of the dinosaurs. A huge chunk of space debris slammed into the earth 65 million years ago, blasting a pall of dust into the air. With the sun blocked, temperatures plunged and light-starved plants at the bottom of the food chain died. Bad news for the dinos, good news for the rodent-like beasts that suddenly had breathing room to begin evolving into...

Author: /time Magazine | Title: Silver Lining | 5/27/2002 | See Source »

...International donors will be expected to come up with hundreds of millions of dollars to rebuild Palestinian infrastructure, and the administration wants to ensure that the money is spent on its intended purpose. The days of Israel paying a substantial chunk of the tax revenue earmarked for the PA into personal discretionary accounts controlled by Arafat are, no doubt, over. It may well be that the guiding principle of Arab and Western funding to the PA from now on will be to keep Arafat's hands as far as possible from the treasury. Even though that would weaken Arafat...

Author: /time Magazine | Title: Who Wants to Reform the Palestinian Authority? | 5/9/2002 | See Source »

...points a year. From this, the scholars draw a startling conclusion: putting all your money in stocks is a bad idea. Why? First, most previous research showed stocks beating bonds and cash by a much wider 6 1/2 to 8 1/2 points a year. Second, a big chunk of the rise in stock returns came from the democratization of investing, starting in the 1970s. With mutual funds offering instant diversification, stocks suddenly became safer. "That can't happen again," says Dimson...

Author: /time Magazine | Title: New Cause for Caution on Stocks | 5/6/2002 | See Source »

...Alex Garland's backpack bible The Beach, don't get excited?this adventure pales in comparison. Not only does Aitkenhead attempt the same jaded been-there, done-that tone as the Gen X bestseller, she even names one of her chapters after Garland's novel and sets a large chunk of her story in the same Gulf of Thailand locale...

Author: /time Magazine | Title: Been There, Done That | 5/6/2002 | See Source »

...rooting for the Revenuers. Anyone who underreports income on a large scale is passing the buck to the rest of us. As a salaried worker, I'm not really part of the "voluntary" tax system. Uncle Sam grabs a chunk of every paycheck. Come April, I just try to get some of it back...

Author: /time Magazine | Title: The Perils of Tax Havens | 4/15/2002 | See Source »

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