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...Cherish Old Allies (and Cultivate New Ones) It's no small matter that China, and not the U.S., is now Japan's largest trading partner. If overleveraged America really is destined to be mired in a postconsumerist funk for the foreseeable future, Japan needs to redouble its efforts to strengthen trade and diplomatic ties with its neighbors - not only to counteract China's growing influence in Asia, but also to grab a greater share of fast-growing Asian markets. "Japan can benefit from high Asian growth rates even with low domestic demand," says JPMorgan's Kanno. Closer relationships with Asian...

Author: /time Magazine | Title: A Sea Change in Japanese Politics | 9/14/2009 | See Source »

...Dick Cheney's more memorable lines. "Deficits don't matter," he told Treasury Secretary Paul O'Neill in 2002. Later, after O'Neill made the conversation public, Cheney elaborated that he meant this "in a political context," not an economic one. But for most of Cheney's time as Vice President, the claim held up pretty well in both contexts. Over O'Neill's objections - he'd be gone soon anyway - the Bush Administration and Congress abandoned a bipartisan commitment to fiscal prudence that had held sway since the early 1990s and went back to running chronic deficits. The result...

Author: /time Magazine | Title: America and Its Deficits: Are We Broke Yet? | 9/14/2009 | See Source »

...spent $3.7 trillion and taken in $2.1 trillion. Even by the more forgiving yardstick of percentage of gross domestic product, the shortfall is, at 11.2%, the biggest since World War II. It will be smaller next year but still huge by historical standards. At some point this starts to matter, right...

Author: /time Magazine | Title: America and Its Deficits: Are We Broke Yet? | 9/14/2009 | See Source »

...counter the Terriers’ 16-shot second half, and came away with key non-conference victory early in the season. But for Grimm, this matchup was no more important than any other the Crimson has played. “Winning is always important, it doesn’t matter who the opponent is,” Grimm said. “Beating [BU] will give us some national recognition, but really it’s about winning every single game.” —Staff writer Alexandra J. Mihalek can be reached at amihalek@fas.harvard.edu...

Author: By Alexandra J. Mihalek, CRIMSON STAFF WRITER | Title: Defense Denies Cross-Town Terriers in Crimson’s 1-0 Victory in Redemption Match | 9/13/2009 | See Source »

...should projected savings not materialize. Current projections, however, suggest that reform would cost $900 billion over the next 10 years, and Obama’s speech did not delve into the specifics of how exactly he intended to pay for it. The president must clear up ambiguities on this matter in the near future if he is to command wider support. Overall, Obama made his vision clear, defended his principles, and gave hope to a brighter future in the world of health care. We hope that representatives of both parties work together in order to find the proper cure...

Author: By The Crimson Staff | Title: Obamacare | 9/13/2009 | See Source »

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