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...industrial, financial, and retail jobs destroyed over the last three quarters cannot be recouped in the dozen quarters that lie immediately ahead, if Phelps view, which is a remarkably dark vision of America's future, is right. This desperate image of the national economic life assumes that the innovative power of American business cannot build another huge sector the way that it did in the 1970s with the rise of the great technology companies like Microsoft (MSFT), Intel (INTC), and Cisco (CSCO), and twenty years later Google (GOOG) and the second reincarnation of Apple (AAPL), which was built on nothing...

Author: /time Magazine | Title: Despair and the Vision of the New Economy | 5/5/2009 | See Source »

...When she got to her feet, the knees of her pants were frayed and bits of gravel clung to the fabric, but she didn’t brush them clean or in any other way distract her focus from the figure kneeling on the opposite bank. The dark shape across the water grew elongated, also standing. They faced one another with the Feather River in between. In two or three more hours? they would kneel again and drink.”Among prose stylists, Denis Johnson has few living equals. His finest moments bristle with beauty and potential; words blossom...

Author: By Ryan J. Meehan, CRIMSON STAFF WRITER | Title: Johnson Does Noir | 5/5/2009 | See Source »

...Asia’s oldest conflicts in one of Asia’s oldest democracies seemingly comes to a dark, bloody conclusion, a number of questions about the war in Sri Lanka and the ideological banners under which it marched come to the forefront: What is the value of a democracy if the price is self-determination? What is the value of territorial control if the price is social cohesion? What is the value of a national political unity if the price is a national political identity? What is the value of power if the price is human life...

Author: By Raúl A. Carrillo | Title: The Means of the End | 5/5/2009 | See Source »

...among those whose religions have been broadly misunderstood. "Islam is this bogeyman," says Patheos contributor Jonathan A.C. Brown, a professor of Arabic and Islamic studies at the University of Washington, noting that people act as though "everyone has achieved some enlightenment, except for Muslims, who are stuck in the Dark Ages." For Muslims, he says, "to have a forum where their religion is going to be discussed seriously is important...

Author: /time Magazine | Title: What Do Religions Believe? A Website with Answers | 5/5/2009 | See Source »

...procedures, a good sign for the fledgling democracy born after 10 years of violence and political floundering. "He has taken the democratic high road of parliamentary practice," says Dixit, "This is a very good harbinger of the democratization process." This is the reason why the crisis, while definitely a dark cloud, has a very bright silver lining. "It will affect the peace process obviously, the integration [of former rebels into the army] also. The constitution-making process will be delayed, and the country's economic condition, already serious due to the global downturn, will worsen," says Nihar Nayak, Associate Fellow...

Author: /time Magazine | Title: Nepal's PM Resigns, in New Crisis for Maoists | 5/4/2009 | See Source »

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