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...unsustainable. If at that point, central bankers were to remain obsessed with inflation, deeper and still more problematic cracks would open in the world economy. With investors reeling, the world carrying unprecedented levels of debt, and the U.S. sucking up virtually all of the world's excess savings to cover its own financial shortfall, this is not the time for a major monetary miscue. What is really troubling markets is not so much inflation, for the factors that might drive global prices higher continue to be overwhelmed by powerful underlying forces. Rather it is the fear that central banks...

Author: /time Magazine | Title: Go Easy on the Brakes | 5/21/2006 | See Source »

Sitting sentry in the center of town, the Marines are a ripe target for insurgent assaults. On April 24, mortars begin crashing down on the compound, and the shuddering impacts force the grunts to take cover in their rooftop bunkers. From an alley in the northeast, an insurgent fires a rocket-propelled grenade that slams a wall along the narrow mouth of a sandbagged gun pit. Shards of hot metal penetrate the opening, hitting Corporal Jonathan Wilson. Blood pours down his neck. "Corpsman up, corpsman up," he cries--asking for a medic to head to the roof. He runs downstairs...

Author: /time Magazine | Title: The Most Dangerous Place | 5/21/2006 | See Source »

...arrondisement. The Coen brothers crunch their black comedy into a black hole of cross-cultural misunderstandings. Buscemi, whose Coen-nections cover five features, from Miller's Crossing to The Big Lebowski, plays a tourist reading a guidebook in the Paris Metro. "Never make eye contact," the book advises. But it's too late; he has inadvertently done just that with a woman on the opposite platform. Her beau takes offense, and Buscemi finds himself the injured party in a bout of romantic gamesmanship. Nasty, natty...

Author: /time Magazine | Title: Cannes's First Really Good Movie | 5/18/2006 | See Source »

JANUARY 10, 2006 A report by the Faculty’s Resources Committee warned of possible deficits of $100 million by 2010, but outlined a financial plan that would cover those deficits. English chair James Engell asked whether administrators were certain of the Faculty’s financial health: “It’s very exhilarating to ski downhill, but one wants to be assured that the chairlift works...

Author: By Anton S. Troianovski, CRIMSON STAFF WRITER | Title: Timeline: Five Years of Faculty Meetings | 5/17/2006 | See Source »

...French officials let a minority of students and unionists decide the fate of legislation. Today people react to policy changes with sensational demonstrations, and politicians bow to the pressure for fear of losing in the next elections. Pauline Gastaldi Nice, France Thank you for your very friendly and optimistic cover reporting on the French government's efforts at reform in the face of citizen resistance. Unfortunately, we are very, very far from solving the problem of populist reaction against change. Bob Ledoux Le Cannet, France The Nile's Bounty Re "The waters of life" [May 1]: as a retired...

Author: /time Magazine | Title: Slow — But Steady — Change in France | 5/16/2006 | See Source »

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