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...duties now that Michael has died. "Their grandmother Katherine and I should raise them," Joe said. "Yes, there's no one else who can do what we can do for them. We should keep them all together and make them happy. Feed them like they are supposed to be fed." (See pictures of Jackson's memorial service...

Author: /time Magazine | Title: Joe Jackson Makes Bid for Care of Michael's Kids | 7/11/2009 | See Source »

...monetary stimulus, do you mean the Fed needs to print more money? An increase in the money supply has historically always motivated people to spend and end a recession. And I don't know if there's any evidence that fiscal stimulus has the same effect on people's habits. All that Obama's fiscal stimulus bill has achieved is to put an enormous fiscal deficit on the Federal Government. (See pictures of the dangers of printing money...

Author: /time Magazine | Title: Advice from an Economist Who Saw 1929 | 7/9/2009 | See Source »

...Back in Hamburg, the traffic lights are flashing red, green and yellow again, fed by coal and gas plants. The incident on Saturday was strike two for Krümmel, which had reopened only last month following a two-year shutdown after a transformer caught fire in 2007. Officials at operator Vatenfall Europe say Krümmel will stay offline for "several months" until they figure out what caused the latest short circuit. Whether Germany will pull the plug on the nuclear plant for good is up to the voters in September...

Author: /time Magazine | Title: Nuclear-Power Debate Reignites in Germany | 7/9/2009 | See Source »

...other states, however, it's the extra volatility that comes from dependence on personal-income tax that is exacerbating the problem. Research by economists at the Chicago Fed show that by the late 1990s, the personal-income tax had emerged as the major source of state revenue - and that personal-income tax swings more wildly than other taxes, like sales tax. The typical state now gets 36% of its funding from personal-income tax, according to the Rockefeller Institute of Government. As unemployment continues to climb and investors offset their capital gains with losses, the effect is felt disproportionately...

Author: /time Magazine | Title: After California: Which States Are in the Most Peril? | 7/8/2009 | See Source »

...antidiscretion case has been made for years with regard to Federal Reserve monetary policy. Becker's Chicago teacher Milton Friedman thought that instead of tweaking interest rates, the Fed should just automatically increase the money supply 3% to 4% a year. Measuring the money supply in an era of financial innovation has turned out to be awfully hard, so in recent years believers in an automated Fed have turned to an equation concocted by Stanford economist John Taylor that takes in inflation, current economic growth and long-term-trend growth and churns out a suggested Fed interest-rate target. Taylor...

Author: /time Magazine | Title: Dumbing Down Regulation: The Quest For Simpler Rules | 7/6/2009 | See Source »

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