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...equivalency" between McCain's brand of lying and Obama's, with the former's ranging anywhere from the "annoying to the sleazy." And Klein could think of only one instance when Obama crossed the line (though never calling it a lie), whereas McCain has turned it into an art form. Absent from the list of Obama's "lies" is his declaration that McCain actually is O.K. with the war in Iraq continuing for 100 years if need be. That pronouncement far exceeds any exaggerations from the McCain camp. The media's love affair with Obama is well documented. Nevertheless, TIME...

Author: /time Magazine | Title: Inbox | 10/2/2008 | See Source »

...economies can provide is an ineradicable economic cycle. As John Maynard Keynes pointed out in the 1930s, the cause of the cycle is alternating moods of optimism and pessimism, and its motor is credit, which enables optimism to determine economic activity. However, when Keynes discussed it, the only significant form of credit was business credit, financing capital investment decisions. There has since been a massive growth of consumer credit, which amplified the business cycle and prolonged the recent upswing. In the U.S., consumer indebtedness is a massive 139% of disposable income, while in the U.K. it is even higher...

Author: /time Magazine | Title: Back to Reality | 10/1/2008 | See Source »

...world, must have two objectives. The first is speedy intervention to prevent a self-perpetuating downward spiral, which means protecting depositors at minimal long-term cost to the taxpayer. The second is to ensure so far as possible that future booms are less exaggerated. This has implications for the form of any rescue package, and for the system of financial oversight that is put in place...

Author: /time Magazine | Title: Back to Reality | 10/1/2008 | See Source »

...while the bailout bill was voted down in the House on Monday, many of the University’s economists predict it will eventually succeed in some form, whether or not they think it’s a good thing...

Author: By Maxwell L. Child, CRIMSON STAFF WRITER | Title: Professors’ Opinions Split on Bailout Plan | 9/30/2008 | See Source »

...came to understand that this was a fantasy. They broke away from Likud and created the centrist Kadima ("Onward") Party three years ago. Now, as Olmert hands the reins to Tzipi Livni and leaves office amid a corruption scandal, he's made a series of stunning departure statements that form a swan song of historical importance. Peace advocates, Israeli dreamers, Arab skeptics and U.S. mediators in a future McCain or Obama Administration should read his words carefully and take note...

Author: /time Magazine | Title: Olmert's Lame-Duck Epiphany About Palestinian Peace | 9/30/2008 | See Source »

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