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...Except the markets aren't taking it that way. On Monday, stock exchanges around the world swooned, from east to west, as investors, spooked by more fallout from the subprime crisis and credit crunch, failed to be reassured that a $145 billion stimulus package rolled out by the Bush Administration would do much to keep the U.S. economy afloat. The main index in Hong Kong dropped 5.5%, its biggest percentage loss since Sept. 11, 2001. India's benchmark shed 7.4%. In Europe, Britain fell 5.5%, France 6.8%, and Germany 7.2%. Brazilian stocks dropped 6.6% and Canada's main index lost...

Author: /time Magazine | Title: Why the US Economy Still Matters | 1/22/2008 | See Source »

...East Dawning in Shanghai and the opening of a Taco Bell in Monterrey last fall. Yum's iconoclastic CEO, David Novak, likens it to how Ray Kroc of McDonald's brought hamburgers to America. "I asked, What's the hamburger in China?" he says. "Obviously, it's Chinese food." Except Kroc was an American selling American food to Americans. Is this brilliant, or is Novak half-Kroc...

Author: /time Magazine | Title: Kentucky Fried Rice | 1/17/2008 | See Source »

...time to start stocking up on conversation material. In 2009, millions of lights will go out across America, marking the dawn of a new era: an era without analog television. As static flickers across sets from California to Cambridge, families who haven’t spoken for years except during commercial breaks will be forced to turn to one another and catch up. I imagine that the first exclamation out of some people’s mouths will be: “Thank heavens for my liberal education!” Then I imagine the sound of millions of televisions...

Author: By Alexandra A. Petri | Title: Don’t Block the Box | 1/17/2008 | See Source »

...Carnival Destiny (what does that even mean?) for a voyage around the southern Caribbean, stopping in exotic locations like Domenica, Antigua, and St. Maarten. If you’re really feeling badass, hit up the sweet “Millionaire’s Club Casino.” Except if you really were a millionaire, you wouldn’t be on a Caribbean cruise. Isle of Man: If you like cold, rainy weather, you’ll no doubt enjoy Cambridge, MA. Yet there’s something decidedly refreshing about shelling out major cash to experience the dreariness...

Author: By Mark A. Pacult, CRIMSON STAFF WRITER | Title: Get Your Groove Back For Under $500 | 1/17/2008 | See Source »

...Last but not least: back in 1986, I was one of those Soviet citizens who worked for the U.S Embassy in Moscow, and were ordered out overnight by the Soviet government to retaliate their having over 50 Soviet diplomats expelled from the U.S. The techniques were much the same, except the cops didn't harass us at home. It was a masterly Cold War stroke, as withdrawing Soviet support staff totally paralyzed the U.S. embassy for months. However, it was one of the very last such strokes, as the Cold War was dying rather than it being a sign...

Author: /time Magazine | Title: UK-Russian Tension Growing | 1/17/2008 | See Source »

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