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Greece suddenly found itself with a solid, reliable currency. Its government and businesses could borrow at lower interest rates than before. The country boomed, with real GDP growth topping 3.8% for eight straight years. (During the same 2000-07 run, U.S. GDP growth never hit 3.7%; Germany didn't make it past 3.2%.) It seemed as though Greece had landed a one-way ticket to economic good times...
...economy as we face our own deficit issues. "It's only when the tide goes out that you learn who's been swimming naked," investor Warren Buffett has said. The U.S. has none of the currency difficulties of the PIGS. We do have a government deficit expected to hit 10.6% of GDP this year and a total federal debt that will cross 100% of GDP in 2012, according to White House projections. The rolling crisis of the past three years has been an embarrassing exercise in exposing the financially underclothed. It doesn't appear to be over...
...thyself with Humility to thy Industry! Well, that's one strain of American values. But there are other American ideas that reality TV taps into: That everybody should have a shot. That sometimes being real is better than being polite. That no matter where you started out, you can hit it big, get lucky and reinvent yourself. In her own way, Jwoww is as American a character as the nobody Jay Gatsby heading east and changing his name. (See TIME's 2000 cover about reality...
...auguries are mixed. The Percy Jackson books, written by Rick Riordan, a former high school teacher now based in Texas, became a word-of-mouth sensation after the first one hit shelves in 2005. Parents loved that they were based on Greek myths: Percy (played by Logan Lerman in the movie) is actually Perseus, a demigod son of Poseidon. He faces down remodeled versions of such perils as Medusa (in New Jersey), the land of the lotus eaters (in Vegas) and Ares, the god of war (a Hell's Angel). Olympus is on top of the Empire State Building. Hades...
McDonald's has doubtless benefited from the weak economy - its low-cost, seemingly healthy Snack Wraps (soft tortillas filled with chicken, lettuce and cheese) are perfectly positioned to feed a nation simultaneously worried about money and fat - but the company's boom actually began in 2006, before the recession hit. A major reason was the improvement in its menu. A glowing Feb. 2 Goldman Sachs analyst's report on McDonald's is typical of Wall Street sentiments. The report says McDonald's is "stepping up investment when peers cannot" and cites the "strong new product pipeline" as a key factor...