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...likely to be a while before we hit that new normal. Rosenberg points out that during the Great Depression, the worst of GDP contraction and stock-market losses had hit by the early 1930s. And yet the malaise carried on for the rest of the decade. Unemployment hung above 15%, and people didn't spend money. "Even people who had the means didn't go on buying sprees. That's not how they lived," says Rosenberg. We may now be in for some of the same...

Author: /time Magazine | Title: A Drag on the Economic Rebound: Consumer Spending | 6/10/2009 | See Source »

...Gautier spoke, she stood in front of a large wall of contraband streetwear. Lacoste, Adidas, Kappa, DKNY: all the labels and logos so prevalent on Sukhumvit as well as in the backpacker ghetto of Khaosan Road and in neon-drenched Patpong Market were on display. A Fred Perry shirt hung there, accusingly, in pink. "In countries like Vietnam and Cambodia, very often it's kids involved in the manufacturing," Gautier says. "People think, 'Oh, it's just a T shirt and it's no real harm,' but we try to explain where the money is going. What...

Author: /time Magazine | Title: Knock It Off: A Thai Museum for Counterfeit Goods | 6/8/2009 | See Source »

Dozens of flags hung from the walls of the Forum, each representing the home nation of at least one of this year’s Kennedy School graduates...

Author: By Sarah J. Howland, CRIMSON STAFF WRITER | Title: Sebelius Speaks to HKS | 6/3/2009 | See Source »

...nation's MPs was sparked in the offices of the Daily Telegraph and its sister title, the Sunday Telegraph, by a team sequestered from the main editorial operations. The air is frankly a bit smelly in their windowless bunker, but that's nothing compared to the stench that has hung over Westminster since the Telegraph began publishing leaked details of MPs' expenses claims 27 days...

Author: /time Magazine | Title: As More Ministers Resign in Britain, Can Brown Survive? | 6/3/2009 | See Source »

...Shari'a law that sharply restricts the rights of women, and it empowers clerical bodies like the Committee for the Promotion of Virtue and Prevention of Vice to police civil society. Days before Obama's visit, a man convicted of a double murder was beheaded by sword and then hung on a cross in a public square in downtown Riyadh...

Author: /time Magazine | Title: Obama and the Saudis: Cheek to Cheek, but a World Apart | 6/3/2009 | See Source »

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