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...more for optimists. On May 27, WSL Strategic Retail, a highly respected consulting firm, released its latest "How America Shops" survey. The company found that in 19 of the 32 spending categories it tracks, fewer consumers are cutting purchases now than they were a year ago. For example, last year 58% of the survey's respondents said they were cutting back on purchases of frozen food. Now only 34% said they were spending less on those items. Last year, 41% of consumers said they were cutting back on cereal. That figure has now dipped to 26%. (See pictures...

Author: /time Magazine | Title: Are Shoppers Fed Up with the Recession? | 6/1/2009 | See Source »

...trust and the German government will provide a bridging loan of $2.1 billion (€1.5 billion) to provide Opel with emergency funding and keep GM's European operations running. On top of that, the German government will give $4.3 billion (€3 billion) in loan guarantees. The Canadian firm would own 20% of the new group, Russia's biggest lender Sberbank would have a 35% stake, GM would keep a 35% stake in its European arm, and Opel workers would have 10%. (See pictures of the dangers of printing money in Germany...

Author: /time Magazine | Title: Merkel Saves Opel From GM's Fate | 6/1/2009 | See Source »

...markets collapsed late last year, Schiff, who runs the Connecticut-based brokerage firm Euro Pacific Capital, briefly got to bask in the glory of his spectacular call. He ran a victory lap of sorts on the cable news networks. A fan put together a 10-minute YouTube clip of his precrash predictions on CNBC and Fox News--complete with smirking and dead-wrong rebuttals from the likes of Arthur Laffer and Ben Stein--that has been watched more than 1.3 million times. ("What makes that clip so good is not so much me as everybody else," Schiff says. "People like...

Author: /time Magazine | Title: Why We Should Listen to Peter Schiff's Bad News | 6/1/2009 | See Source »

China, of course, has certain advantages when it comes to managing shifting economic winds. There's no peskily powerful Congress to worry about, for one thing; what the Chinese government wants in the way of policy, it gets. Christopher Wood, chief Asia strategist for the brokerage and investment firm CLSA, says the fact that China's economy is a hybrid of capitalism and a socialist command economy has given the government much greater flexibility to intervene. Beijing more or less ordered Chinese banks to increase lending in response to the global financial meltdown. Wood, a former journalist well known...

Author: /time Magazine | Title: China's New Deal: Modernizing the Middle Kingdom | 6/1/2009 | See Source »

...soft-spoken coach demonstrated a firm commitment to the achievements of his players both on and off the court, his advice began to resonate with them...

Author: By Kevin T. Chen, CRIMSON STAFF WRITER | Title: COACH OF THE YEAR RUNNER-UP: New Regime Boosts Harvard to Playoffs | 5/30/2009 | See Source »

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