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...should just automatically increase the money supply 3% to 4% a year. Measuring the money supply in an era of financial innovation has turned out to be awfully hard, so in recent years believers in an automated Fed have turned to an equation concocted by Stanford economist John Taylor that takes in inflation, current economic growth and long-term-trend growth and churns out a suggested Fed interest-rate target. Taylor and some other conservatives have said that if the Fed had followed his rule in the early 2000s, all would be well today. There's no way of knowing...

Author: /time Magazine | Title: Dumbing Down Regulation: The Quest For Simpler Rules | 7/6/2009 | See Source »

...become rich and famous in the depression '30s, a fellow could make movies, play baseball or rob banks. John Dillinger chose Way 3, and for a while he enjoyed the celebrity of a Clark Gable or a Lou Gehrig. Newspapers breathlessly limned his exploits as he made sizable withdrawals from vaults throughout the Midwest, using his machine gun as collateral. But killing cops puts a man at greater risk than hitting a homer or kissing the girl. Dillinger stirred the hunter's blood in J. Edgar Hoover, the young director of the FBI, and Hoover's most resourceful agent, Melvin...

Author: /time Magazine | Title: Kill Dill: Depp's Dillinger Disappoints | 7/6/2009 | See Source »

...movie tips its veneration of Dillinger in an early heist scene when, as he vaults over a bank partition, the camera goes briefly into slo-mo; it's like Leni Riefenstahl filming the Olympics of bank-robbing. Depp's John is nice to the ladies, especially the Franco-Native American Billie Frechette (Marion Cotillard), and quick with the quips - as in his one brief face-to-face with Purvis (Christian Bale): "What keeps you up nights, Mr. Dillinger?" "Coffee...

Author: /time Magazine | Title: Kill Dill: Depp's Dillinger Disappoints | 7/6/2009 | See Source »

...Using a mattress, a coin meter and a clip-on vibrating device, in 1958 inventor John Houghtaling, 92, created his most famous product: the Magic Fingers Vibrating Bed. Billed as a sleep aid, the machine was a staple of U.S. motels in the 1960s...

Author: /time Magazine | Title: Milestones | 7/6/2009 | See Source »

...this new orientation within psychiatry. I wanted to offer a couple of clarifications: You state that those who met our criteria for risk of psychosis were 30 times as likely to develop the illness as those in the general population. Something got lost in translation in my interview with John Cloud; in fact, our research shows that such a person is more than 400 times as likely to develop psychosis. Also, the necessary critical mass of controlled, randomized clinical-trial treatment data has yet to be gathered, so it is premature to conclude that "it works." We still have...

Author: /time Magazine | Title: Inbox | 7/6/2009 | See Source »

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