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...Iranian budget deficits have soared and inflation is now a hefty 25% a year, according to Cliff Kupchan of risk consultancy Eurasia Group in Washington. Government officials are "digging a deeper hole, spending money they do not have," Kupchan says. Last November, 60 Iranian economists sent Ahmadinejad a letter warning him that his policies threatened economic ruin. "We have nothing because Mr. Ahmadinejad has spent it all," says Leylaz, who did not sign the letter, though he is a fierce critic of the President. "Mr. Ahmadinejad's economic policy has an absolute lack of financial discipline. His priority is making...

Author: /time Magazine | Title: Oil's Sinking Fortunes | 1/8/2009 | See Source »

...budget crisis; one of his solutions is a sizable tax on booze. "At a time we should be investing for our unmet needs and stimulating the economy, we're going in the other direction," says California state treasurer Bill Lockyer, a Democrat. "Every day, we go deeper in the hole...

Author: /time Magazine | Title: The Great California Fiscal Earthquake | 1/8/2009 | See Source »

Winter swimming has been popular in Scandinavia and Russia for years, but the most intense thing I've heard is this guy in Antarctica who jumped into a hole in the ice. I can't believe that. Hats off to him. We also got an e-mail two years ago from some of our troops in Iraq who did a New Year's Day plunge in Saddam's pool. I think that's pretty great...

Author: /time Magazine | Title: Coney Island's Human Polar Bear | 1/1/2009 | See Source »

...Israelis to be nice there, tell [the Palestinians] to be nice there. And I say Gaza is a nightmare, and it's a stain on my conscience. And I'm very troubled by the attitude of Israelis against Israeli Arabs. It's a shame. It's a black hole in my democracy. But I say sometimes that I'm too close to the reality; I don't have the perspective; I don't have the bigger picture. But if enough of my kids and enough of my youth will go to volunteer, be it in Darfur or be it Rwanda...

Author: /time Magazine | Title: Can the Jewish People Survive Without an Enemy? | 1/1/2009 | See Source »

Egypt, of course, shares Abbas' hostility toward Hamas, originally a creation of the banned but widely popular Egyptian Muslim Brotherhood. Earlier this year, Hamas created a crisis for the Egyptian regime by blowing a hole in the wall at Rafah, allowing Palestinians to pour into Egypt to buy up basic supplies. Embarrassed and facing domestic and Arab pressure, President Hosni Mubarak left the breach open for the best part of a week before sealing it and renewing Egypt's insistence that it would open the border crossing only to Abbas' men. Now, in the midst of a new political firestorm...

Author: /time Magazine | Title: Israel Versus Hamas: How to Shape a Cease-Fire | 12/31/2008 | See Source »

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