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...contracting significantly" in the fourth quarter, as San Francisco Fed president Janet Yellen recently put it, an issue that was practically unthinkable three months ago is now, for the Fed, front and center: the possibility of the U.S. entering a phase of deflation, or protracted declines in the general price level. In its statement accompanying the most recent interest-rate cut, the Fed said, "In light of the declines in the prices of energy and other commodities and weaker prospects for economic activity, [the Fed] expects inflation to moderate...

Author: /time Magazine | Title: The Rising Threat of Deflation | 11/6/2008 | See Source »

...Perhaps most importantly, Obama’s victory will engender Hope in aspiring new leaders around the world—the Hope of better individuals. This goes beyond the politics of identity and into the general politics of life. Obama’s multicultural heritage is not the only symbol of possibility. Along with it comes his way of leadership, reflected in the way his campaign was conducted. The Obama team tapped into the American psyche and conveyed a multicultural, unifying, and somehow still unique personal narrative. Regardless of who Barack was before the election, he became a storybook...

Author: By Raúl A. Carrillo | Title: Obama for Mankind | 11/6/2008 | See Source »

...gotten ten town halls out of Obama, it would have come close to that. McCain's ideal would have been flying around on an airplane with Barack Obama, debating in town halls and having dinner with him afterwards. That would have been his ideal for the general election, but we can't write the rules ourselves. This is the way they are. You guys enforce them. And Obama played by them masterfully, absolutely masterfully. A disciplined, focused campaign...

Author: /time Magazine | Title: Exit Interview with Top McCain Aide Mark Salter | 11/5/2008 | See Source »

...most outspoken and active figures in the fight against drug cartels. He narrowly escaped assassination in January, when federal police arrested in a Mexico City house five hitmen who had allegedly been contracted to kill him. He had held a series of top positions in the federal Attorney General's office but stepped down in August, citing personal reasons...

Author: /time Magazine | Title: Plane Crash Kills Mexico's Deputy Leader | 11/5/2008 | See Source »

...fire rattled the truce, it may have been ritual bloodletting. Neither Hamas nor Israel wants the cease-fire to end yet. The Israeli Defense Minister Ehud Barak wants to prolong it because his Labor Party, according to polls, stands to lose more legislative seats in this February's general elections, and a prolonged, bloody assault on Gaza - which would probably fail to crush Hamas - could further jeopardize his chances. (See pictures of 60 years of Israel...

Author: /time Magazine | Title: Will Israel-Hamas Clash Threaten the Truce? | 11/5/2008 | See Source »

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