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...walk, he lumbers, and the closest thing to a smile he'll offer is a small grin--a smirk, really. I got one for noticing the GRIZZLY BEAR CROSSING sign on his wall, near a swollen bookcase burdened with such cheery titles as Blown to Bits, Cleaning Up the Mess and Debt Shock. No question: Biggs, chief global strategist at Morgan Stanley Dean Witter, is Wall Street's ranking pessimist. As such, being right--as he has been lately--is a mixed blessing. It means things suck. So it would be unseemly to gloat. Yet Biggs could, even should, given...

Author: /time Magazine | Title: In The Bear Cave | 3/26/2001 | See Source »

...dramatic shift from coal to natural gas for electric power generation and significantly higher electricity prices," Bush wrote in his March 13 letter to Chuck Hagel informing Congress of his change in policy. A few days later, Christie Whitman (whose own wishful thinking had probably gotten Bush into the mess in the first place) finally climbed on board, telling the National Press Club the country was "in the midst of a national energy crisis - this is a long way from being over...

Author: /time Magazine | Title: Is Bush Using a Phony 'Energy Crisis' for Cover on the Environment? | 3/22/2001 | See Source »

...Napster prevailed, we could have avoided this wretched mess. With the illicit but compelling market power of its 50 million users, Napster might have muscled agreements with the other record labels similar to its Bertelsmann pact. Still tiny relative to the rest of the recording industry, Napster would slowly but surely have been transformed into a profitable way to distribute music while benefiting artists, labels, consumers and Napster itself. All this would have been possible, if only the law had worked just a little bit slower. Yet thanks to our speedy and efficient legal system, it's now highly doubtful...

Author: By Alex F. Rubalcava, | Title: When Laws Work Too Well | 3/19/2001 | See Source »

...improvements to roads and higher education may be in jeopardy. In response, several Democratic lawmakers have begun to talk about a tax increase. But few of their colleagues want to go that route. (Read their lips: No new taxes.) So while they look for another way out of the mess, Republicans are arguing that the hubbub is merely a dirt devil whipped up by Bush's enemies in Washington. They point out that Texas will have nearly $1 billion in emergency funds on which to draw. And a spokesman in Bush's White House insists that "Texas...

Author: /time Magazine | Title: Beyond The Beltway: When Tax Cuts Hit Texas | 3/12/2001 | See Source »

...mess, all right. The profitable things don't work, while the unprofitable things still do, except no one wants to make them now, and those who use them waste them. Consider electricity. While half the U.S. was earning paper millions dreaming up Tom Swift gizmos, the business of generating raw megawatts was neglected, turning a former commodity into a luxury. Now, in parts of California, the electricity doesn't work either. This...

Author: /time Magazine | Title: Recession For Dummies | 3/5/2001 | See Source »

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