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...fell only to 3%. "This is unlike anything we've seen in the postwar period," says economist Stephen Roach at Morgan Stanley. Recessions that spring from manic business overbuilding, such as this one, were more common before World War II and proved then to be far more difficult to correct, lasting on average about twice as long as recessions caused by Fed rate hikes, Roach notes...

Author: /time Magazine | Title: Stumped By The Slump | 12/31/2001 | See Source »

Even if those who abuse women believe their actions follow Islamic teaching, their thinking is not necessarily correct. The sins of Muslims must never be confused with Islamic doctrine. Furthermore, quoting from the Koran without context does readers a disservice. It is akin to quoting this verse from the Bible: "Neither was the man created for the woman; but the woman for the man" (I Corinthians 11: 9) and concluding that Christianity is a sexist religion seeking to oppress women. Is this fair? No. Islam should be accorded the same courtesy. HESHAM A. HASSABALLA Villa Park...

Author: /time Magazine | Title: Letters: Dec. 24, 2001 | 12/24/2001 | See Source »

...What's wrong with being politically correct...

Author: /time Magazine | Title: Bill Maher | 12/24/2001 | See Source »

...passed over despite a fresh waxing and skimpy bikini Losers CARLY FIORINA HP CEO in trouble as Hewletts and Packards oppose Compaq merger. Undoubtedly both of them once owned Presarios MARTHA STEWART Ms. Do-It-Right gets in copyright trouble over her show's theme song. What's the correct etiquette for totally screwing someone over? COURTNEY LOVE Cobain's widow sued by surviving Nirvana members. Apparently, the tiff involves her plan to market Kurt-ables chocolate biscuits...

Author: /time Magazine | Title: Starting Time | 12/24/2001 | See Source »

While the staff is correct to note that Russia is not an enemy, it is also not so strong an ally that it should be given an influential role in the United States’ most powerful military alliance. Even if Russia does not receive any veto power over NATO, the need to consult Russia and smooth over any active opposition will necessarily constrain the alliance’s actions...

Author: By Stephen E. Sachs, STEPHEN E. SACHS | Title: Dissent: Russia Unreliable as Military Partner | 12/13/2001 | See Source »

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