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...Washington Savings Are Up, Unfortunately With no end in sight to job layoffs and the real estate meltdown, Americans have become more careful with their money, spending less and saving more. While good for individuals, such mass saving is disastrous for the economy--less shopping means fewer retail jobs; less home-buying means fewer construction jobs. According to the Commerce Department, the personal savings rate in 2008 was nearly three times as high...

Author: /time Magazine | Title: The World | 2/5/2009 | See Source »

...Zimbabwe Finally a Unity Government, But Huge Problems Remain After a nearly five-month impasse, opposition leader Morgan Tsvangirai (below) has agreed to serve as Prime Minister in a power-sharing arrangement with President Robert Mugabe. Although the political turmoil may be over, Zimbabwe faces a cholera epidemic, mass hunger and hyperinflation. The central bank has said it will permit the use of foreign currency and announced on Feb. 2 that it would chop 12 zeros off new notes, making an old trillion-dollar bill equal to one new Zimbabwean dollar...

Author: /time Magazine | Title: The World | 2/5/2009 | See Source »

...solvency, as well as $6 billion "to turn federal buildings into 'green' buildings," with the telling scare quotes deriding the idea of creating short-term jobs for retrofitters while reducing long-term federal energy costs and emissions. There has been a sensible push to add even more money for mass transit, which reduces energy use, increases the competitiveness of metropolitan areas and helps working families. Expanded unemployment benefits and food stamps will be excellent stimulus--and they're desperately needed right now. In general, most of the current proposals--though not all--aim to limit the new spending...

Author: /time Magazine | Title: How to Spend the Stimulus | 2/5/2009 | See Source »

...Club. The Man of the Year award was first presented in 1963, twelve years after the group established its Woman of the Year award. The Hasty Pudding will honor 2009 Woman of the Year Renee Zellweger in a celebration this afternoon. The festivities will commence with a parade down Mass. Ave., which will begin at the Inn at Harvard at 2:30 p.m. Following the parade, Hasty Pudding Theatricals President David J. Andersson ’09 and Vice President of the cast Thomas R. Compton ’09 will roast Zellweger at New College Theatre. The Hasty Pudding...

Author: By Lauren D. Kiel, CRIMSON STAFF WRITER | Title: Pudding Names Franco Man Of the Year | 2/5/2009 | See Source »

...with diesel pollution. If the fumes give you a headache, you can take a cab to the "golden ghetto" of Makati - the city's CBD of stockjobbers and starched luxury malls - and be haunted by the thought of Antonio Samson's slum-dwelling illegitimate son Pepe. He features in Mass, the book that ends José's impassioned saga. In the novel's closing pages, Pepe confronts plutocrat Juan Puneta at his Makati mansion. After hearing Puneta say "I love exploiting the poor," Pepe kills him in an act of class rage and flees this town of heartbreaking contrasts, convinced...

Author: /time Magazine | Title: Manila Through the Eyes of F. Sionil José | 2/5/2009 | See Source »

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