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...these figures are probably gross underestimates. In Indonesia, the world's largest supplier, the industry is bigger than Malaysia's and Thailand's combined. Hong Kong, a major consumer, imported nests worth $276 million last year, up from $204 million in 2006, according to the Hong Kong Trade Development Council. (See pictures of how Indonesia is complicating efforts to control the outbreaks of avian...

Author: /time Magazine | Title: Bird Bonanza | 7/20/2009 | See Source »

...George Stephanopoulos asked Vice President Joe Biden if the stimulus package was too small or if the White House simply didn't have a handle on the seriousness of our economic ills. When an interviewer posed a similar question on National Public Radio, the chair of the President's Council of Economic Advisers, Christina Romer, replied, "It's important to realize that none of us has a crystal ball...

Author: /time Magazine | Title: Why Are Economists So Bad at Forecasting? | 7/17/2009 | See Source »

...becomes a blurry fan-shaped region, underscoring that as time marches forward, the variable being forecast falls into an ever broader range of possibilities. "The more you think in terms of distribution of outcomes, the better," says Gregory Mankiw, a Harvard economist who chaired President George W. Bush's Council of Economic Advisers. "You're always keeping in mind the inherent uncertainty." The Bank of England is a big user of the fan chart when its economists talk about inflation forecasts. Plenty of U.S. agencies, like the Social Security Administration, use them...

Author: /time Magazine | Title: Why Are Economists So Bad at Forecasting? | 7/17/2009 | See Source »

...Though perhaps not the clarion call that the rank and file may have been hoping for, the notes of compromise struck by Rafsanjani made sense within the context of a power struggle at the apex of the Islamic Republic, according to Trita Parsi, president of the National Iranian American Council. "The phase we're in now is one where the different sides are trying to determine the rules by which they'll continue their political conflict," he says. "Remember, these guys are all in the same boat to some extent, all invested in the regime's survival. And if they...

Author: /time Magazine | Title: In Iran, the Opposition Delivers a Sermon | 7/17/2009 | See Source »

...activists, including those from Memorial, in Moscow. "Such a heinous crime sends a chilling signal to Russian civil society and the international community, and illustrates the tragic deterioration of security and the rule of law in the North Caucasus over the last several months," said White House National Security Council spokesman Mike Hammer in a statement. (See pictures of Obama in Russia...

Author: /time Magazine | Title: Killings of Russia's Human-Rights Activists Continue | 7/16/2009 | See Source »

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