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...falling, slamming into the disk at supersonic speeds and vaporizing to form a cloud containing five times the water in Earth's oceans. What the astronomers are convinced will happen next is that the water will re-freeze into ice particles and eventually form comets - which in turn will crash down onto whatever planets they find, forming oceans that the future scientists of these worlds will someday be scratching their heads over...

Author: /time Magazine | Title: Sleet Storm in Space | 8/30/2007 | See Source »

...because he has no clear idea himself. He probably suspects that many borrowers and lenders have been up to no good and richly deserve the bad things that are happening to them. And while he can manufacture cash, he knows that if he overdoes it, hyperinflation and a dollar crash could result...

Author: /time Magazine | Title: Ben Bernanke Walks the Line | 8/23/2007 | See Source »

...first big global liquidity crisis came a few years later, on the morning after the 1987 stock-market crash. Fearful banks stopped lending until new Fed Chairman Alan Greenspan restored confidence with reassuring words and piles of cash. Greenspan did the same when credit markets froze after the Russian government defaulted on its debts in 1998. But he was criticized afterward for being perhaps too generous and reassuring and for launching an era of overly easy money...

Author: /time Magazine | Title: Ben Bernanke Walks the Line | 8/23/2007 | See Source »

...biggest threat, though, is a crash in the property or stock market. When U.S. property and media tycoon Sam Zell visited India in April, he told local real estate executives that they were "on the brink of excess" and that the boom could end in a bust. Real estate stocks plunged as much as 50% in a general market sell-off last spring, while property prices have fallen 20% or so in some areas in the past six months. Both the government and the Reserve Bank of India are trying to cool the real estate sector without crashing...

Author: /time Magazine | Title: Building a Dream | 8/17/2007 | See Source »

Lyndon Johnson was obsessed with his own mortality. "He was always a little bit scared of death," Graham said, and thus wanted a preacher handy--like the time he talked Graham into flying to a convention with him because the weather was so bad, he thought the plane might crash. Having entered office in the shadow of the Kennedy assassination, Johnson was conscious of how a President's death can shatter a country. Long before his Administration collapsed and he announced that he would not seek a second term in 1968, Johnson privately told Graham what he was thinking...

Author: /time Magazine | Title: Billy Graham, Pastor In Chief | 8/9/2007 | See Source »

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