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...this new burst of demand rapidly pushed up prices and attracted speculators, generating a frenzy in India similar to the ones that engulfed the U.S. and European markets. An Indian auction house, Osian's, even began marketing a sort of mutual fund for fine art. Artists, too, developed unrealistic expectations. "Everyone wants to be Damian Hirst overnight," says Mumbai gallery owner Jai Bhandarkar...

Author: /time Magazine | Title: Buyers' Market | 6/22/2009 | See Source »

...stringent spending plans set by its Conservative predecessors. Even after that date, as Labour's Chancellor of the Exchequer, or Finance Minister - the office that best suited Brown - he held to his "golden rule," borrowing only to invest, and resisted raising the tax rate paid by top earners to fund Labour's social-justice and equality initiatives...

Author: /time Magazine | Title: Labour Pains: Gordon Brown is Running Out of Time | 6/22/2009 | See Source »

...Brussels TURNING POINT Conservative parties from France to the Netherlands celebrated victories in the four-day elections for the European Parliament. While not all conservative groups notched gains, some analysts called the broader trend part of a backlash over recent government spending to fund company bailouts and stimulus packages...

Author: /time Magazine | Title: The World | 6/22/2009 | See Source »

...decade ago. But the Obama Administration is changing all that, having directed $1.2 billion to pay for summer jobs for youths. Every state is now flush with stimulus dollars - ranging from about $3 million (in Wyoming, South Dakota and other low-population states) to $186 million (California) - to fund local job programs. Most states have started hiring, and many kids are already in their first weeks of work. The White House estimates that the stimulus money will create 125,000 jobs for low-income youths, though outside experts put the number at up to four times that...

Author: /time Magazine | Title: Stimulus Sparks a Summer Jobs' Comeback | 6/19/2009 | See Source »

...satisfied with just a three-month stint, he says. "Summer jobs only really pay off if we can tie them to more year-round work," says Sum. "To just have a one-summer program would be, in my mind, a massive misuse of the money. We should fund jobs this summer and next summer and have part-time work in the winter...

Author: /time Magazine | Title: Stimulus Sparks a Summer Jobs' Comeback | 6/19/2009 | See Source »

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