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There is a small market in credit default swaps for U.S. debt. The fact that there is one at all should be troubling to the Treasury and the Fed. While the chances of American defaulting on any portion of its debt are small, if the recession drags on the odds...

Author: /time Magazine | Title: U.K. Debt Moves Sovereign Borrowing Issue Closer To U.S. | 5/21/2009 | See Source »

Klaus, an economist by training, is a highly divisive veteran of Czech post-communist politics who had served as finance minister and prime minister before becoming president in 2003. He was re-elected to the five-year office last year. The Czech president is no stranger to controversy. A dogged...

Author: /time Magazine | Title: Vaclav Klaus: The Man with the E.U.'s Fate in His Hands | 5/21/2009 | See Source »

The reason: demand is recovering, slightly, for some raw materials. In the case of oil, supplies have been reduced by OPEC cutbacks. And commodities traders are bidding up market prices in general on expectations that supply shortages will return with just a modest improvement in demand. That's because miners...

Author: /time Magazine | Title: Commodities Conundrum | 5/18/2009 | See Source »

How to win at the psychology of saving? A big part is understanding where the money goes. If you're part of a typical American household, 12% of your spending is on food. That's a big chunk, but smaller than the 18% that goes for transportation and the 34...

Author: /time Magazine | Title: Here's the Best Way to Save Even More | 5/18/2009 | See Source »

The coils of razor wire glint in the prairie sun like silver tumbleweeds, piled against the chain-link perimeter fence around the Two Rivers Detention Facility in Hardin, Mont. Two years ago, the town (pop. 3,600) celebrated the completion of this $27 million state-of-the-art private prison...

Author: /time Magazine | Title: The Montana Town That Wanted to Be Gitmo | 5/18/2009 | See Source »

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