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Also weighing on the dollar: investor concerns that to balance a budget deficit expected to swell this fiscal year to $1.85 trillion - equal to 13% of the country's GDP, a level not seen since World War II - the Federal Reserve could simply resort to printing more money, further flooding the markets with dollars. While the central bank said on June 24 that it had no plans to expand its purchase of government or mortgage bonds beyond the $1.2 trillion earmarked for the purpose in March, not everyone is convinced. "There is always the nagging concern that if this...

Author: /time Magazine | Title: Outlook for U.S. Dollar Darkens | 7/2/2009 | See Source »

These days, airplanes actually have two black boxes, the voice recorder and the flight data recorder. They can withstand temperatures up to 2,000°F and impact forces up to 100 Gs. (A G is equal to the force of the earth's gravity.) They track pilots' conversations, engine noises, air-traffic-control commands, fuel levels, landing-gear extension and retraction and dozens of other clicks and pops that might offer insights about a plane's final moments. The boxes are made out of quarter-inch-thick panels of stainless steel. And in case you're wondering, an entire...

Author: /time Magazine | Title: Black Boxes | 7/2/2009 | See Source »

...resting place is barely a tombstone. His plot is lined with a low marble border, and a large laurel bush dominates the space inside. Underneath, partially covered by ivy strands, is a small, marble plaque bearing the simple demarcation: “Ezra Pound.” In equal distance on the other side of the plot lies the plaque commemorating Olga Rudge, Pound’s long-term lover and intellectual companion. Passersby would not find the spot unless they knew that it simply had to be there, according to the map that underlines the “anyone...

Author: By Emmeline D. Francis | Title: The Art of Contrast | 7/1/2009 | See Source »

...higher than the White House had projected in January. While that might under normal circumstances make any stimulus more popular, voters have been spooked by the enormous deficits Washington is running up as it tries to right the economy. In 2009 alone, the U.S. government will take on debt equal to about 13% of its economic output, and by 2016 the U.S. debt is projected to top 70% of GDP, twice the 2000 level. Poll after poll has shown a steady erosion of confidence in the stimulus measure; one survey found that 45% of voters believe it should be abandoned...

Author: /time Magazine | Title: What Happened to the Stimulus? | 7/1/2009 | See Source »

...Apparently she is kind to children, dogs and the little people on the set. Onscreen, Bullock personifies the wholesome, working-class common sense of the ideal friend or girlfriend. From her first hits, Speed and While You Were Sleeping, she knew how to get laughs and produce tears with equal, unforced agility. And with Julia Roberts' four-year break from starring roles (until this spring's Duplicity), Bullock is the one enduring star actress of her age. All this stokes a rooting interest in film folk and audiences alike. They just wish she were in better movies...

Author: /time Magazine | Title: Sandra Bullock Should Have Said No to The Proposal | 6/29/2009 | See Source »

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