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...trillion dollars in mortgages is now bound up in mortgage-backed securities, up from zero two decades ago. All told, there's a huge speculative overlay on stocks, bonds, mortgages, corn, hogs, etc., owned by regular people in the real world, which the derivative people refer to as "the underlying." These abstract concoctions are floating over the real world of stocks, bonds, corn and hogs in the same way that the island of Laputa, that fanciful domain of theorizers and stargazers, floated over real towns and villages in Gulliver's Travels...

Author: /time Magazine | Title: Derivatives: How the Big Game Began | 4/11/1994 | See Source »

...time when the backdrop sphinx turns into a slot machine and dispenses oversized corn-on-the-cobs to Joseph's hungry brothers...

Author: By Erica L. Werner, | Title: The Windy Shitty | 4/7/1994 | See Source »

Agustin Lopez Santiz understands that all too well. He lives in the southern state of Chiapas, at the opposite end of the country from the shantytown where Colosio was shot. Santiz, 66, sits barefoot in the dust of Tuxaquilja, a village of 600 people, picking corn off a cob to feed his chickens. The earth is dry, rocky, infertile. Roads are ruts, and there are few public services. Looking down at the dirt, he says in a mixture of Spanish and Tzeltal, the local Indian tongue, "This is where we are from. We cannot leave...

Author: /time Magazine | Title: Days Of Trauma and Fear | 4/4/1994 | See Source »

Other house specialties include Currier's bamboo shoots, which grow only in the quad's northern climate. Kirkland gets jalapeno peppers; Leverett gets baby corn. Adams, Lowell and Quincy salad bars offer beets. Only Lowell offers lemon pepper vinaigrette...

Author: NO WRITER ATTRIBUTED | Title: Salad Days | 2/24/1994 | See Source »

...housed six women, 20 children, Melton and at least one other man. The love he refers to is familial: "I consider it to be a good idea for us all to be together in these times of struggling." He points to a pantry stocked with some 15 cans of corn, a couple of jars of spaghetti sauce, and pancake mix and syrup -- proof, he says, that no one here goes hungry. He regards as misplaced any sentiment questioning his sisters' child rearing: "They are young single mothers who adore their children," he vouches. On a typical day, he ticks...

Author: /time Magazine | Title: Calcutta, Illinois | 2/14/1994 | See Source »

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