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...taxed rather than being a tax on the federal and state governments. The news will be particularly bleak if the economy sheds more than 500,000 jobs in any of these months. A plunge of that magnitude in every month could push unemployment to double digits with only eight months of the year gone. (Find out 10 things to do with your money...

Author: /time Magazine | Title: Summer 2009: The Long Wait for Evidence of a Recovery | 5/26/2009 | See Source »

...easing of tensions has come about in part because Ma, a Harvard Law School graduate and former Taipei mayor, is a far more palatable politician to Beijing than his more confrontational predecessor, Chen Shui-bian. China's leaders ultimately want the island and the mainland to reunite. During his eight years as President, Chen irked Beijing by flirting with ways of making Taiwan more formally independent, such as scheduling a referendum on applying for U.N. membership under the name Taiwan. Ma, on the other hand, has promised not to declare Taiwan an independent state, a position that has made...

Author: /time Magazine | Title: Building Bridges to China | 5/25/2009 | See Source »

...Dubai, hit the nightclub scene, bought a Porsche convertible, and then fled home after a week on the job, leaving about $115,000 in debt. "What were [they] thinking, loaning ?80,000 to a 24-year-old with no stable job who'd been in the country just eight weeks?" asks Mohamed. "When things are good, no one wants to open their eyes." He recently bumped into his former employee in Edinburgh. "He said 'I don't know you and you don't know me,' " says Mohamed. "What happens in Dubai stays in Dubai...

Author: /time Magazine | Title: Dubai's Sand Castles | 5/25/2009 | See Source »

...turns out he's in good company. More than 5 million unmarried couples cohabit in the U.S., nearly eight times the number in 1970, and a record-breaking 40% of babies born in 2007 had unmarried parents (that's up 25% from 2002). Sure, there are plenty of baby-daddies in the Levi Johnston vein, i.e., young and accidental. But nonmarital births have increased the most among women ages 25 to 39, doubling since 1980, thanks in part to a small but growing demographic a sociologist has dubbed committed unmarrieds (CUs). These are the happily unwed - think Brad and Angelina...

Author: /time Magazine | Title: All but the Ring: Why Some Couples Don't Wed | 5/25/2009 | See Source »

...Bush Administration at first took a confrontational approach with the DPRK. Bush's hard-line stance, the critics believe, prompted Pyongyang to kick-start nuclear-weapon production. Intelligence analysts in Washington and Seoul believe that North Korea increased its total arsenal from one or two nukes to seven or eight during Bush's time in office...

Author: /time Magazine | Title: North Korean Nuke Test: What Good Is Diplomacy? | 5/25/2009 | See Source »

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