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...from now, you start with how high it is today. If the economy isn't stable and the old relationships don't hold as well as they used to, then the models break down. In recent years, there have been great advances in economic modeling, says Stock, but forecasts haven't necessarily gotten much better since the economy itself has grown more complex...

Author: /time Magazine | Title: Why Are Economists So Bad at Forecasting? | 7/17/2009 | See Source »

...wears long coats too, doesn't she? She does wear a lot of long coats. It's summer now, so we haven't been seeing her in them, but certainly all through the fall she wore a lot of long coats, which made great sense. She really chooses unusual colors. She doesn't often go with the traditional spectrum: red, cobalt. She does not do that. She does chartreuse, she does teal. The red that she uses is a kind of tomato; it has an orange tint to it. I personally think that it takes an evolved sense of aesthetics...

Author: /time Magazine | Title: Michelle Obama's Fashion Statement | 7/16/2009 | See Source »

...Andrew Barber, Asia strategist for Research Edge, an equity-research firm based in New Haven, Conn., believes Beijing's National Bureau of Statistics "well understands that there are doubts in the markets about the reliability of China's data. But unlike a year ago, they are actively trying to take baby steps toward more transparency." Government statisticians recently announced that they would work with the Organization for Economic Cooperation and Development to improve data quality...

Author: /time Magazine | Title: China's Economic Recovery Gathers Steam | 7/16/2009 | See Source »

Sotomayor also spent much of the day defending her handling of the Ricci v. Destefano reverse-discrimination case, which the Supreme Court last month overturned, stating that she had simply followed existing precedent in joining the panel ruling that New Haven was right to deny white firemen promotions when enough minorities had not passed an employment test. She also sought to assure senators she'd remain open-minded on gun laws and pledged that she quite clearly understood that foreign laws are not applicable in the United States, even if she has an interest in studying them. Following a strategy...

Author: /time Magazine | Title: Sotomayor Keeps Her Cool on the Senate Hot Seat | 7/15/2009 | See Source »

...Washington Obama to Gays: I Haven't Forgotten You Amid complaints of campaign promises left unfulfilled, President Obama invited hundreds of gay and lesbian leaders to the White House on June 29 to assure them that their concerns remain a priority. Activists have voiced frustration that Obama has not overturned the military's "Don't ask, don't tell" policy or done more to repeal the Defense of Marriage Act. One participant said the event bought Obama more time, "but he'll have to deliver...

Author: /time Magazine | Title: The World | 7/13/2009 | See Source »

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